Milestone One: The Revenue Cyclesouthern New Hampshire Unive

Milestone One: The Revenue CycleSouthern New Hampshire University HCM 345 – Healthcare Reimbursement 08:56:52 GMT -05:00Reimbursement and The Revenue CycleMost of a health care organization's revenue comes from services provided to a patient. It is important that all financial data is tracked as well as accurate, timely, and documented, So the charges to the various payers is supported by the necessary data (Harrington, K., 2021). If a health care facility does not receive payments, they could lose money which can contribute to “bad debt.” There will also be no room for growth as an organization will have a challenging time investing in other business Opportunities. An organization may also spend more time and money dealing with collections. Ultimately, the organization may pay more than they are receiving (Continuum, 2023).The revenue cycle can either be a three-tired or four-tiered approach. The three-tiered approach is the most effective method and is divided into 3 categories.: Front-end, middle, andback-end processes. 08:56:52 GMT -05:00The first step in the revenue cycle is pre-registration. This is where the healthcare organization captures patient demographics, insurance information, and eligibility. After the information is 100% accurate, the patient is registered, and all necessary information is collected