Understanding revenue, the reimbursement process, and data collection in the rev
ID: 246785 • Letter: U
Question
Understanding revenue, the reimbursement process, and data collection in the revenue cycle is crucial to supporting the financial foundation of an organization. Take a moment and reflect on what you have learned over the past ten weeks and how it applies to your future role in the healthcare industry.Instructions:
How do you think you will utilize the aspects of the course “Reimbursement Methodologies” in your career in health information or health care? Provide an example.
This Discussion Board is provided here so you may add your thoughts and reflections on your course as well as your thoughts for the future. Understanding revenue, the reimbursement process, and data collection in the revenue cycle is crucial to supporting the financial foundation of an organization. Take a moment and reflect on what you have learned over the past ten weeks and how it applies to your future role in the healthcare industry.
Instructions:
How do you think you will utilize the aspects of the course “Reimbursement Methodologies” in your career in health information or health care? Provide an example.
This Discussion Board is provided here so you may add your thoughts and reflections on your course as well as your thoughts for the future. Understanding revenue, the reimbursement process, and data collection in the revenue cycle is crucial to supporting the financial foundation of an organization. Take a moment and reflect on what you have learned over the past ten weeks and how it applies to your future role in the healthcare industry.
Instructions:
How do you think you will utilize the aspects of the course “Reimbursement Methodologies” in your career in health information or health care? Provide an example.
This Discussion Board is provided here so you may add your thoughts and reflections on your course as well as your thoughts for the future.
Explanation / Answer
1.Health care system is always supported by an insurance system.it is composed of a wide variety of insurers of all types. The older method of billing for the number of patients seen is fastly replacing .Reimbursement Methodologies helps in supporting accurate billing through coding,claims management and bill reconcilation and help in comparing the differences in characteristics and conventions between ICD-9 and ICD-10.It enables to select drug manually using the drug expert.it will also help in differentiating between Medicare Part A,B,C and D.A brief knowledge on clinical coding will enhance your understanding of the reimbursement process.The codes are periodiclly revised.There are many specific reimbursement methods today.One of the key reforms is a shift from fee-for-service model to a prospective payment model and it include bundled payments.The new method aim to move from volume based to value based for better outcomes. So i can effectively use this Reimbursement methodologies in my practice.It is a belief that the extent and natureof product reimbursement is a contributing factor in the development of potential investors of health care technologies such as drugs ,vaccines and medical devices.For Eg Reimbursement strategies and policies directly impact the amount spent on these new technologies and so it is important to understand their impact on both the allocation of scarce national resources and the incentives that developers and investors have to invest in innovation.
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