Reference no: EM132281190
The financial services activities associated with the delivery of health care were simple during the period of time when a pure analog-based working environment existed. The increasing digitization of the delivery process has resulted in a much more complex model involving an ever-expanding list of forms, fields, values, and EDI-related complexities.
To prepare for this Application, read the following chapter of your course text Health Information: Management of a Strategic Resource:
Chapter 18, "Revenue Cycle and Financial Management"
You can also watch the supplemental video, "Information System Applications Fundamentals."
For this assignment:
Describe the fundamental financial mechanics involved in the delivery of health care services. Include events such as medical claim form generation, form submission via a clearinghouse, and the accounts receivable component.
Represent these financial mechanic relationships in a graphic format.
Construct a 1- to 2-page document that details the relationship between accounts payable and accounts receivable and outlines strategies to optimize cash flow and efficiency.