In this module, you learned how to monitor key performance indicators (KPIs) and boost revenue-cycle management in healthcare organizations. You also explored how data analytics can be leveraged to maintain a robust revenue cycle.
In this assignment, you will determine how KPIs support the strategic planning and financial performance of the revenue cycle.
This assignment will help you apply revenue-cycle principles to data analytics and evaluate the significance of KPIs in strategic planning and financial performance. From a healthcare management perspective, this assignment will help you explain the role of technology in managing the revenue cycle. This will help you prepare for sections 2 (Strategic Planning), 4A (Improvement Processes), and 5 (Revenue-Cycle Process) in the course project.
Directions
Create a short paper on how KPIs support the strategic planning and financial performance of the revenue cycle.
If you need writing support, access the Online Writing Center through the Academic Support module of your course.
Specifically, you must address the following rubric criteria:
- Key Performance Indicators: Explain the significance of at least six general key performance indicators (KPIs) from anywhere in the revenue cycle. Consider the following questions to guide your response:
- Why are these KPIs significant?
- How do these KPIs impact patient experience?
- Strategic Planning: Explain how the KPIs you selected support strategic planning. Consider the following questions to guide your response:
- What could be some examples of strategic decisions that these KPIs impact?
- How would the KPIs guide the organizations to develop price transparency tools for patients?
- Data Analysis: Describe how you can identify opportunities for improving cash flow from an organization’s financial data. Consider the following questions to guide your response:
- How would you capture the data required for the analysis?
- How would you restructure the revenue cycle workflows to accommodate opportunities to improve the cash flow?
- Leveraging Technology: Explain how you can leverage technology to support opportunities for improving cash flow. Consider the following questions to guide your response:
- Which workflows in the revenue cycle would best accommodate technological changes?
- What types of technological innovations should be considered for an improved performance of revenue-cycle operations?
All the claims in your deliverable should be evidence based. Your citations should be from your independent search for evidence (not from the textbook or module resources) of credible sources and be current within the last five years. You are required to cite a minimum of two sources, at least one of which should be separate from your own research. Refer to the IHP 630 Library Guide located in the Start Here section of the course for additional support.
What to Submit
Submit your short paper as a 3- to 4-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Add a title page. Sources should be cited according to APA style.
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