The Bridge in Bridgehampton, N.Y., charged a whopping $750,000 to join, according to a 2007 Wall Street Journal article. Another Hamptons club, Sebonack Golf Club, billed new members for $650,000 when it opened in 2006, Bloomberg reported.
Hence, the revenue cycle actually consists of two major subsystems (assuming sales on credit basis): 1  the sales order processing system and. 2  the account receivable system.
Managing revenue cycle means improving compliance as much as it means ensuring complete and accurate billing processes and A/R follow up procedures. Compliance is the responsibility of all staff, especially those with clinical and financial responsibilities. In todayâs Medicare environment â and it is not much different if a providerâs primary payer is insurance or the patient â mere automation is insufficient. Quality Revenue Cycle Management (RCM) processes are required today more than ever.