Customer care and optimizing the opportunities for revenue growth is the concern of revenue cycle management. Insurance companies, service providers, and clients need to coordinate to have successful transactions. The health care industries usually practice this set-up wherein payments, billing, and service provision undergo such management procedures. Thus, the dedication to properly manage through effective coordination amongst all parties involved is key to having a smooth-running operation. Moreover, having all the necessary documents below is crucial to spare the system from lapses and losses.
10+ Revenue Cycle Management Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
1. Appointment Schedule
Plot the much-needed appointment amid the busy times with this template. There is nothing like a reminder about availing a service or settling a bill. Grab this editable template now! You can add your personalized content using either Google Docs, Google Sheets, MS Excel, MS Word, Numbers, and Pages. Download this file now and get started with the cycle’s process!
2. Billing Statement
If your clients have a trust agreement contract between an insurance company, then have this bill ready. Usually, immediate deductions to the client’s account are the easy way, and you’d better inform your clients about it. Serve them up with this printable statement, which is ready in A4 and US Letter sizes. Download this template now, and keep the transparency intact!
3. Strategic Plan Process
You need to have a neat layout of your revenue cycle management. Make sure that all parties concerned know about the plan that they are availing with the help of this template. You can edit either using Google Docs, Pages, or MS Word. Plus, printing is no hassle since the file is available in A4 and US Letter sizes. Download now and present your neat plans to companies and your clients!
4. Payment Agreement Contract
Seal the preferred payment scheme with this contract document. Use this template as the perfect startup for your agreements. This template comes with a ready-made layout to serve as your guide as you edit. Plus, this template is compatible with Pages, Google Docs, and MS Word. Click the download button now and begin the negotiations for a done deal!
5. Payment Schedule
What better way to keep the earnings coming and filling your income statements with this schedule document? The cycle needs a table to plot out the payment scheme. All you have to do is input the details either using Google Docs, Google Sheets, MS Excel, MS Word, Pages, or Numbers. Download this file now and start plotting out the dates for sure payment!
6. Payment Receipt
Dish out the receipts to secure a solid transaction with your clients. Use this customizable template and edit using either MS Word, Pages, Numbers, MS Excel, Google Docs, or Google Sheets. Printing this document is easy as this file is available in A4 and US Letter sizes. Grab this template now and always seal the purchase with receipts!
7. Receipt Sample
Even though this document is simple and basic, authentic accounting will be a big problem without it. Make sure you authenticate transactions with a receipt. Have a presentable layout and a perfect match for your medical billings with this template. This file is compatible with MS Word and Pages. Click the download button now and get those receipts ready!
8. Management Audit Checklist
The management cycle needs reviewing from time to time, whether it is about the delivery of the service and payment schemes. Remember that customer satisfaction and ease of business are the goals. Thus, do an audit of the whole process with this template. Printing this as a report is easy as this document is available in A4 and US Letter sizes.
9. Installment Payment Acknowledgement
Partial payments are acceptable when it is in a decent amount. Thus, send an acknowledgment to your clients as a transaction proof. Use this template as a fitting startup for your document. You can edit this file either in MS Word or Pages. Download this document now!
10. Revenue Cycle Management in Healthcare
Review the basics of revenue management with this document. This file serves as the perfect guide to managing the cycle. Thus, click the download button and take the time to study!
11. Revenue Cycle Management Best Practices
There are many management styles, and learning from the best is always helpful. Download this file now and start getting useful ideas. Get this one now and prepare taking down notes.
6 Stepson How to Do Revenue Cycle Management
Healthcare systems usually execute revenue cycle management. Giving service in advance is typical in the medical industry because life is a crucial concern; thus, payments often come after the services. And being a business and a social service institution, you need to have the appropriate mechanism for managing your revenues. That is why you need to follow the steps below to optimize your process. Do this for both the patient’s and your establishment’s advantage.
Step 1: Open Up for Registration
A revenue cycle incorporates a payment cycle, as well. Thus, you need your clients to register in your sign up sheets for them to avail of the services. Tracking payments without a complete registry is a hassle and can even end up with severe losses. That is why you need to have a record of your clients so that managing the payment schemes will be more comfortable.
Step 2: Schedule Appointments
A simple schedule and a simple calendar are what your clients need to pay on time. Moreover, it is also for your advantage to keep up with the timely collections. However, do not forget that appointment schedules also include service provision.
Step 3: Keep in Touch with Insurance Companies
Healthcare providers such as hospitals, dental clinics, pharmacies, and medical laboratories always have insurance companies as partners. Keep the relations healthy with constant updates so that these insurance companies will not delay the payments.
Step 4: Dish Out the Bills and Receipts
Part of the process is to authenticate the transactions using bills and receipts. Make sure your clients are also on time with their payments with a bill payment schedule. Moreover, make it easy for all parties concerned by issuing receipts as proof. Preparing all of these will make accounting easier and assures you that your revenues are intact.
Step 5: Do Regular Accounting
Always do a constant check of the whole process with an accounting balance sheet. You must be aware of the failed collection of payments and even overpayments. The objective is to be fair to your clients and as well as gaining healthy revenues.
Step 6: Review the Process
You can execute this step while in the process or upon completion of one cycle. You need to have a status report so that you can easily view the flow. Plus, checking on the practice gives room for possible improvements and solutions for lapses. Thus, coming from this initiative, you can create a strategic plan for better management of the cycle.