Revenue CycleThe revenue cycle is known as the process by which healthcare providers receive reimbursement for the care they provide. Obtaining revenue is necessary for the efficient operation of any healthcare facility. The revenue cycle consists of all stages involved in patient care, starting from welcoming the patient, meeting their needs, and receiving payments for the services provided (Gillikin). Factors Contributing to Revenue Cycle Complexity There are several factors that contribute to revenue cycle complexity. the revenue cycle. Frequent changes in payer contracts, legislative mandates and managed care are just a few examples of why the healthcare revenue cycle is so complex. Furthermore, problems that arise at the stages of the revenue cycle further complicate the entire process. For example, efficiently addressing revenue cycle phases is extremely difficult when it is managed by poorly trained staff. Additionally, if a healthcare provider does not have the proper information system in place to track patient records and billing, receiving reimbursement can become difficult. Additionally, one of the major factors that delay payments is denial by insurance companies. The reason for refusal includes incorrect coding, certain sequence of treatment and medical necessity or even delay in submitting claims. Finally, inefficient correspondence with patients can not only hinder the revenue cycle process but also result in many patient complaints (Wolper, 2004). The Six Phases of the Revenue Cycle The six phases of the revenue cycle are providing service, documenting service, determining fees, preparing claim/invoice, submitting claim, and receiving payment. The first step is to provide the......center of the card......0. CMS-1500 is the basic form set by the Center for Medicare and Medicaid Services and is used by most outpatient clinics. CMS-1450 is the form used by hospitals to request reimbursement for hospital visits. While CMS-1500 is used for patients under Medicare Part B, CMS-1450 is used for patients insured under Medicare Part A. Some of the charges that need to be claimed using CMS 1500 are outpatient surgeries performed in a certified ambulatory surgery center, all hospital clinics, and hospital primary care offices. Additionally, some of the charges that must be claimed in the CMS-1450 are emergency room visits, ancillary department visits, outpatient services such as infusion therapy or observation, any services rendered during a hospital visit, and any pathology provided regardless of patient presence (Ferenc, 2013).