Revenue cycle management (RCM) is important to the operations of a healthcare practice. We learn that the RCM process begins even before a patient has been seen by the doctor. The RCM has three components: front-end process, middle process and back-end process. (1) pick one component (front, middle or back) of the RCM process. Then, (2) explain the component and provide an example of the selected component.
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Revenue cycle management (RCM) is important to the operations of a healthcare practice. We learn that the RCM process begins even before a patient has been seen by the doctor. The RCM has three components: front-end process, middle process and back-end process. (1) pick one component (front, middle or back) of the RCM process. Then, (2) explain the component and provide an example of the selected component.
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- The revenue cycle is a method of defining and maintaining the processes used for the completion of an accounting process for recording revenue generated from services or products provided by the company, which include the accounting process of tracking and recording transaction from the beginning, normally which starts from receiving an order from the customer or entering in agreement with the customer, delivering an order to customer and end with getting payment from the customer. The figure on the next page describes the different business activities of four departments, including (1) Sales Department, (2) Accounting Department, (3) Warehouse/Shipping, and (4) Mailroom. Required: Based on the below figure, discuss the uncontrolled risks associated with the system as currently configured? And describe the controls that need to be implemented into the system to mitigate the risks in the given scenario.Demand Planning and Operations are an official Image of the Logistics. a. False B. TrueIn order to produce 1000 units of X in a week units X is scheduled weekly for Operation B (due to 5% scrap ratio) units X is scheduled weekly for Operation A (due to 2% scrap ratio) Based on your answer in part a, find the number of machines required to produce 1000 units of X per week. The total time required to perform Operation B = minutes per week The total time required to perform Operation A = minutes per week H= Available Time in a week = minutes /week Thus FA = . FB = . Since both of the operations A and B are performed on the same machine machines are required
- Operations Management You are conducting a retrospective analysis for an Order-Up-To system with delivery lead time of 4 weeks (thus, the unsold inventory at the end of a week is carried over to the next week). The beginning inventory in week 4 is 200 units, and you have in-transit orders (yet to be delivered) placed in week 1, 2, and 3 of the amounts 120, 110, 100, respectively. If you set an order-up-to level of 650 units, then the order quantity in week 4 is 0 units (no order) 90 units 120 units 130 units 450 units none of the abovePleasant Stay Medical Inc. wishes to determine its product costs. Pleasant Stay offers a variety of medical procedures (operations) that are considered its “products.” The overhead has been separated into three major activities. The annual estimated activity costs and activity bases follow: Activity Budgeted Activity Cost Activity Base Scheduling and admitting $432,000 Number of patients Housekeeping 4,212,000 Number of patient days Nursing 5,376,000 Weighted care unit Total costs $10,020,000 Total “patient days” are determined by multiplying the number of patients by the average length of stay in the hospital. A weighted care unit (wcu) is a measure of nursing effort used to care for patients. There were 192,000 weighted care units estimated for the year. In addition, Pleasant Stay estimated 6,000 patients and 27,000 patient days for the year. (The average patient is expected to have a…Pleasant Stay Medical Inc. wishes to determine its product costs. Pleasant Stay offers a variety of medical procedures (operations) that are considered its “products.” The overhead has been separated into three major activities. The annual estimated activity costs and activity bases follow: Activity Budgeted Activity Cost Activity Base Scheduling and admitting $432,000 Number of patients Housekeeping 4,212,000 Number of patient days Nursing 5,376,000 Weighted care unit Total costs $10,020,000 Total “patient days” are determined by multiplying the number of patients by the average length of stay in the hospital. A weighted care unit (wcu) is a measure of nursing effort used to care for patients. There were 192,000 weighted care units estimated for the year. In addition, Pleasant Stay estimated 6,000 patients and 27,000 patient days for the year. (The average patient is expected to have a a little more than a…
- Berger Mortgage Co. provides the following data on its loan application processing activities for the month of February: Move time 18 hours Wait time 63 hours Process time 230 hours Storage time 15 hours Inspection time 22 hours Compute the cycle efficiency for February: FOR THIS QUESTION, WOULD STORAGE TIME BE INCLUDED IN THE SUM FOR THROUGHPUT TIME? ALSO COULD YOU EXPLAIN HOW TO GET THE THROUGHPUT TIME. THANKSFrom a customer service employee's perspective, what is the most important? Why? Now consider the customer's perspective, what is the most important? Why? Keep in mind, the customer may not be aware of the root, only the outcomeThe Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.What are the equivalent units of production for the conversion costs during the period? 17,100. 14,500. 15,100. 16,500.
- Matching demand with capacity is the focus of __________ management.At The Fresh Connection, the supply chain manager, has just chosen to change all of the stock levels for finished goods. This is in an attempt to improve service levels to customers. He has set a new safety stock and production interval for all finished products. As the operations manager, it is your task to find out how much space you need in your finished goods warehouse. In an effort to simplify the system, the supply chain manager has set the safety stocks for all 6 finished goods to 3 weeks and the production interval of all finished goods to 1 weeks (or 5 days). The production interval is the time between production runs of a given product. At The Fresh Connection, you measure stocks in terms of weeks of demand. Currently you can store 600 units of 1 liter cartons on a pallet and 1440 units of 0.3 liter PET bottles on a pallet. Your average weekly demand for all the products combined, in 1 liter cartons is 155000. This means that the sum of all one liter products that flow…How are operational scheduling and supply chain sustainability related? The issue is whether or not the company can make use of both.