HCAD 640 UMDC The Health Care Revenue Cycle Discussion Responses

Peer 1: The health care industry focus on reducing costs and improving quality is pushing for innovative ways to provide services and conduct business. Becker and Ellison (2019) published 8 hospital revenue cycle trends in 2019 which discussed the push for price transparency. Trend 1) is that hospitals moved to a more consumer-centric approach to revenue cycle management in efforts to lower cost for consumers. 2)Hospitals are required to publish a list of their standard charges per CMS, 3) hospitals are jumping ahead of the mandate to publish price transparency and are investing in tools to provide accurate price and adjustments to patients, 4) consumer-friendly transparency to receive payment ahead of time, 5) outsource revenue cycle, 6) Increased revenue cycle , 7) implementation of hospital independent physician practices, 8) alignment of hospital and physician IT, included EHR and revenue cycle management.