Revenue Cycle

The revenue cycle for a medical practice is the process of collecting reimbursement for a provided service. Some of the common steps are:

  1. Development of a “retail” fee schedule and a financial policy (payment practices.)
  2. Negotiating and signing payer contracts to accept specific fee schedules for services.
  3. Providing services to patients and collecting patient-responsibility portions at the time of service.
  4. Posting charges for services rendered and billing payers (filing claims.)
  5. Receiving payments from payers; appealing payments when not compliant with contracts.
  6. Sending statements to patients for any remaining portions due.
  7. Writing balances off the accounts receivable or sending patients to collection agencies/reporting agencies (credit bureaus) or pursuing legal action if patient payments are not made.

Bringing you the latest healthcare news!

The Manage My Practice Blog keeps our readers up to date with the latest healthcare news, trends and analysis.

Recent Posts

Back to the the Blog!
Back to the the Blog!

Where have I been? Ten years after I started my consulting business and started blogging, in 2018 I stopped blogging when I took a very interesting interim position at the University of Washington...

read more

Get in touch

Phone: (919) 370 0504