Revenue Cycle Management and Reimbursement

Phase 5 – Revenue Cycle Management and ReimbursementReading Task: Green: Chapters 5, 9Task Type: Discussion Board   Deliverable Length: 200–300 wordsPoints Possible: 40   Due Date: 3/18/2015 11:59:59 PM  CT [removed]Primary Discussion Response is due by Wednesday (11:59:59pm Central), Peer Responses are due by Sunday (11:59:59pm Central).Part 1There are many reimbursement methods that are utilized to reimburse physicians and facilities for the services and procedures that they provide to patients. A physician and the facility must keep track of the services and procedures that they are providing to the patients to bill out and receive the appropriate reimbursement. The chargemaster or charge description master (CDM) is the billing process that is used in all health care facilities, and it is updated yearly.Focus your discussion on the following questions:What are the consequences of not utilizing current codes and charges? Discuss how using last year’s CDM will affect the current year’s bottom line.Will this create a positive or negative result for the health care facility? Explain your answer.How can facilities ensure that the current CDM is used?Part 2Summative Discussion BoardReview and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least 3 paragraphs on the following:What were the most compelling topics learned in this course?How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?What approaches could have yielded additional valuable information?The main post should include at least 1 reference to research sources, and all sources should be cited using APA format.