The Healthcare Financial Management Association (HFMA) has identified a number of key revenue cycle performance measures.
Revenue Cycle Performance Benchmarks
The Healthcare Financial Management Association (HFMA) has identified a number of key revenue cycle performance measures. Several of the measures are listed below. Choose three of the following performance measures/benchmarks identified by the HFMA. Based on your readings, indicate how improvement in the benchmark enhances revenue cycle performance (for example, improved cash flow, improved turnaround on billing, or increased collections). More than one benefit might be applicable to each benchmark. Your post should demonstrate how improvements in these metrics relate to the overall goals of the revenue cycle. (Reference earlier chapter readings and Lesson Content regarding revenue cycle performance improvement considerations.)
Decreased days in accounts receivable
Coder productivity
Reduction of encounters that are Discharged, No Final Bill (DNFB)
Decrease in Wrong Medical Record Number Assignments
Decreased turnaround on discharge deficiency analysis (missing documentation)
Implementation of point-of-service collections
Decreased rejections or denials
You can do this in either a written narrative, data table or a power point format. Organize your information so that it is reader friendly and makes the information clear.
Example:
Performance Measurement
Specify How Improvement Enhances Revenue Cycle Performance
Impact on Overall Revenue Cycle Goals
HIM/Record Management (NOTE-choose 3 measurements from the above list. Do not use this measurement in your post-example only)
-Accuracy of records supports optimization of revenue
-Access to records supports timely billing
Data Quality
Reduction in denials
Improved revenue turnaround
If you use external sources to help you formulate your discussion post, be sure to include citations for those sources.
In your follow-up post, reply to at least one other student. Comment on the benchmarks that the student selected and indicate what you have learned from his or her analysis of the performance metrics.
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