Assess the needs of an organization using problem-solving and critical thinking techniques and develop a process for managing the revenue cycle in a healthcare facility.

Anywhere Hospitals CFO for the past 20 years, Jim Smith, just retired. He worked for the hospital for 40 years and was greatly respected by his staff. The hospital governing board has hired a new CFO, Todd White.

Jim Smith utilized the silo approach to revenue cycle management during his tenure. He relied on his key management personnel to contact upper management of other departments in the hospital to discuss issues and to resolve problems and vice versa.

Todd White, however, had implemented an integrated revenue cycle team at his former hospital three years ago and strongly believed in the power of teamwork. His previous team had gained numerous efficiencies and improved accounts receivable by millions. When Todd started at Anywhere Hospital, he planned on implementing a similar revenue cycle team.

As with any change, Todd was met with much resistance. But after speaking with many of his managers in patient accounts and finance he realized that the employees did not know how to effectively work in teams. The previous CFO had not asked them to do so in several years.

Project Deliverables:

a. Describe the silo and integrated approach to revenue cycle management. Indicate which approach you believe is most effective and explain your position. Support your response with relevant and appropriate information from your studies.

b. What are some creative ways that Todd can help Anywhere Hospital understand the importance of an integrated revenue cycle team?

c. Give a brief description of the components of the revenue cycle.

d. Identify and list the key departments that should be involved in an integrated revenue cycle management team.

e. Explain goals and objectives a revenue cycle team might consider to implement processes for revenue cycle management and reporting.

f. Develop a plan to review the charge master annually.

NB: it will help to have a reference

Thanks