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.
Revenue cycle management unifies the business and clinical sides of healthcare by coupling administrative data such as a patient's name, insurance provider and other personal information and the treatment a patient receives. Communicating with health insurance companies is a significant piece of RCM. When a patient schedules an appointment, the physician office or hospital staff typically checks the patient's reported insurance coverage prior to the visit.