Introduction
The focal point of this paper is to write a review of the article on healthcare Coding Connections in Revenue Cycle Management by Ruth Cummins, RHIA, CCS, and Julie Waddell published in American Health Information Management Association or Journal of AHIMA in 2005. Revenue problems lead to a specified problem to the possibility of revenue costs. Revenue costs are the dollar amount of value lost in the market value of the organization, or the health status of the patient, because of revenue problems. However, there is no easy way out where it would be possible to avoid or minimized the health care setting to maintain revenue, but more importantly, protect the health status of patients. This is because the problem interference between the basic two parties, the hospital, and the patients are virtually unavoidable in the context of financial implementations.
Problems
The article looks into the parameters of coding connections and the problems related to registering patient details and database maintenance. It can be stated that the recording of information in monetary terms is also a vital system to keep updated in the terms of financial accounting procedures. The recording of information in monetary terms enables the organization operating under this measure to keep the most intricate record of accomplishment of the liquid transaction thereby enabling them to be aware of the liquid assets and liability at any stage of the financial equation.
Be it MRN or HIM, the fundamental problem lies in the fact that the system of maintenance requires better formulation to avoid losses. Full disclosure is vital to the success of an organization because it enables an organization to be cleared in the eyes of the authority and thereby it can operate more smoothly. Besides full disclosure is vital to the success of an organization it enables the organization to operate with more clarity in financial terms and principles. In this context, it would be relevant to add that another concept that is at risk of being ramified is the aspect of goodwill. This is an important aspect and patients rely entirely on it. This factor can negate the parameters of finance and other variables. Though the authors failed to mention this it can be stated that this element could have induced more intricate reading.
Conclusion
It is true and it should be recognized that it is difficult for investors to consistently “beat the market” and earn returns over that required given the level of risk taken for the simple reason that the financial market is volatile and can alter course at the slightest stimuli. Even in the case of nondirect influence the financial market can yield extreme profit or incur an unfathomable loss. Therefore it is certain that the volatility of the financial market is extremely unpredictable and it is safe not to indulge in it too much. The reasons behind this are widespread as it is not possible to calculate all the possible variables that determine the fluctuation of the market. This industry is capricious and unstable due to this abundance of variables or determining factors and hardly anyone is well equipped enough to sustain long-term profitability. Therefore for obvious reasons, it can be said that it is difficult for investors to consistently “beat the market” and earn returns over that required given the level of risk taken.
References
Cummins, Ruth, and Julie Waddell; (2005); “Coding Connections in Revenue Cycle Management.” Journal of AHIMA 76, no.7.