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.
For anything that is not covered by insurance, healthcare organizations must notify and collect payments from the patient. The goal of healthcare revenue cycle management is to develop a process that helps organizations get paid the full amount for services as quickly as possible. However, healthcare revenue cycle management is unique because bills and claims are usually processed over a long period of time.