Introduction
The book Medical Insurance: A Revenue Cycle Process Approach (pdf download) is an interesting book that circles around the complex world of healthcare billing. However, the writer of this book elaborates each step in an accurate manner including arranging appointment to hold insurance claims. On the other side, the readers can learn the process of insurance and its overall rules in an accurate manner.
What is Medical Insurance?
The term Medical Insurance is also known as Health Insurance. Basically, it is a type of a coverage which assist pay for Medical Expenses received by individuals whenever they need a healthcare service. On the other hand, Medical Insurance gives us a financial protection by covering some or all of the coast connected with medical treatment, medication and preventive care.
| Book | Medical Insurance: A Revenue Cycle Process Approach PDF Download |
| Publisher | McGraw Hill |
| Author | Joanne valerius |
| Publication Date | 2020 |
| Pages | 90 |
| Genre | Medical Insurance |
| Language | Engliah |
| Size | 8.9 MB |
Summary/Plot
The book called Medical Insurance: A Revenue Cycle Process Approach elaborates the whole steps needed to manage medical insurance claims. Moreover, this guide book defines the 10 important steps, so the readers can easily understand about the overall process of insurance. On the other hand, this guide also assists the medical staff track the flow of money. So, the medical staff can also learn different rules and guidelines regarding each insurance plan from this guide.
Revenue Cycle Process
The Revenue Cycle Process is a more like a path way for the healthcare facilitators. However, the author defines the overall steps which are needed to make money effectively. It defines the whole process including the appointment of patient to getting paid for services provided. Moreover, the writer states that each step of this process is much more important for sustaining the healthcare businesses financially stable.
Patient Records and Registration
As we aware that in hospitals, initially patient makes their appointments and give over all details. So, these information’s are needed to the healthcare management to further proceeding the insurance process of patients. The author of this book also advice that we must give an accurate information to the management which can prevent us from all possible mistakes and make the billing process even more smooth.
Insurance Conformation and Permission
Before the treatment process the management ensure the insurance card of patient. Moreover, this step makes sure that the administration of healthcare follows the defined rules of insurance company. It also reduces the risk of contradict claims and income loss.
Coding and Documentation
In the Medical Field using accurate codes and caring the records is quite important. Additionally, the healthcare administration uses several special codes and these codes assist with an accurate billing and dealing with different insurance claims. These codes assist the doctors and other staff to get paid correctly and keeping a good record.
Claim Relent
After the discharge of patient, the doctor and management writing down what happened. Then, the insurance department of hospital request to the insurance company to get paid. However, the insurance company makes the payment on instilment basis. Additionally, the insurance department of hospitals uses specific software’s for calming and dealing the insurance.
Claims Adjudication
When the insurance company gets the request from different hospitals, they pay on the basis of patient’s insurance plan. On the other hand, the insurance company closely look, if the treatment was necessary, if the codes are right and the hospital management follow the defined rules of insurance.
Remittance Posting
The accounts staff of insurance company also makes sure that the payment goes into the right account of the hospital. Moreover, the both of parties clear all mistakes and discrepancies just to ensure the payment process in an accurate manner. Furthermore, the writer of this book also says that keeping all records of patients and payments in an accurate manner is really important for both the hospital management and the patients.
Patient Billing and Collections
Even after insurance, patients might still owe some money. This could be for things like copays (a fixed payment for a visit) or treatments not covered by insurance. To keep the clinic running well, it’s important to bill patients accurately and collect payments on time. Being upfront about costs and offering flexible ways to pay can make things easier for everyone – patients can plan their payments, and the clinic gets paid quicker.
Follow-up and contradiction Management
As we know that the insurance companies make the payment step by step. On this way, the insurance section of hospital needs follow-up to ensure the dues in time.
Reporting and Examination
Regular Reporting and Examination gives us insights into the revenue cycle and area for improvement. However, it assists us to know about how long it takes to get paid, how often requests are denied, and how much money we collect. Moreover, these practices can also help us to find different ways to work faster and smarter.
Types of Insurance
- Health Insurance
- Business Insurance
- Disability Insurance
- Travel Insurance
- Life Insurance
- Auto Insurance
- Homeowners/Renters Insuranc
Writing Style
Joanne valerius ways of writhing in his book Medical Insurance: A Revenue Cycle Process Approach is descriptive and engaging that can persuade a huge number of readers worldwide. The author defines the overall aspect and features of this book in a simple but detailed way, so all kind or readers can easily access and approach it.
Moreover, the writer encourages the audiences to think critically and allow them to draw their own views about the future of this book. He uses simple words and language to balance the pace and tone of plot-lines. The author also avoids complicated vocabularies and extra jargon,s, aimed to convey his core messages and ideas in an easy manner.
Significant Receptions
The book Medical Insurance: A Revenue Cycle Process Approach has recieved generally positive receptions from its readers and critics alike upon its publication. Moreover, it was venerated for its engaging writing style, descriptive plot-lines and advanced concepts and rules regarding insurance. On the other hand, several well-known media publicatiions including The Washington Post had showered their positive feedbacks for this book. Furthermore, this book had recieved 4.8 out of 5 stars from Amazon and Goodreads.
What are the Key Features of this book?
Medical Insurance: A Revenue Cycle Process Approach has the following Key Features.
Easy Instructions
The author elaborates all concepts and rules in an easy manner so all kind of readers can easily access and understand.
Helpful Tips
It gives us various helpful advices and tips that we can use them in our daily lives to make things easier.
Focus on Revenue
This teaches you how to bill your clients effectively and collect payments quickly, so you make the most money from your work and keep your finances healthy.
Smart Working
The writer gives several ideas and advises about how to avail different financial tasks on a simple and smarter way by saving the time.
Good Care of patients
This guide makes sure the better care of patients. Additionally, it also makes sure how to collect the revenue other dues of patients.
Benefits of Medical Insurance
Medical Insurance has the following benefits.
Economic Protection
Insurance provides us a financial protection in case of unpredicted events such as property damage, accidents and other illnesses. Moreover, the insurance companies are committed to pay all financial loses associated with these unpredicted events.
Personal Satisfaction
As we know that several insurance companies offer different plans such as Health, Education, Marriage and Business insurance policies. Additionally, most of the people get benefits from these plans. These plans can reduce anxiety and stress about potential risks. So, it allows that we can focus on our daily activities without worrying about the financial implications.
Easily Access to Medical Help
The individuals can get a better treatment in any hospital without paying a lot of money. The insurance companies pay for every thing such as doctors visit, getting medicine, bed charges and other crucial medical tests. So, people can get a better treatment and care what they need.
Staying Safe
Insurance can reduce worries about financial risks if something unexpected. On the other side, we must get an insurance for our life and properties that can keep us safe from different unexpected situations in our lives.
Final Thoughts
The book Medical Insurance: A Revenue Cycle Process Approach is more like a friendly book that assist us about how the process of insurance proceeds and what are the importance of insurance. Moreover, the writer elaborates over all aspects and features of this book in an accurate manner which can attract a huge number of readers worldwide. I recommend this book to all of them who love to read insurance books.
FAQs
What is the revenue cycle approach?
The revenue cycle approach is a financial process about how healthcare places manage the flow of money. However, the medical staff uses specific software’s to ensure everything from the appointment of patient to final bill paying.
What are the 10 steps in the revenue cycle?
The followings are the 10 steps of the revenue cycle:
- New Patient Onboarding and Coverage Benefits
- Encounter, Coding and Charge Capture
- Claim validation and processing
- Check claim status
- Payment Advice
- Contradiction and Appeals
- Payment processing
- Statement of Charges
- Continuation of care
- Payments
What is the last step in the revenue cycle?
The last step in the revenue cycle is patient billing collections.
What is AR in medical billing?
AR stands for accounts receivable.
What is AR caller in medical billing?
An AR caller, or Accounts Receivable caller, is someone who contacts insurance companies, patients, or others to sort out unpaid or denied medical claim.
What is AR Caller full form?
The full form of AR caller is Accounts Receivable Caller.