Institute: ONC | Component: 1 | Unit: 5 | Lecture: a | Slide: 14
Institute:Office of National Coordinator (ONC) Workforce Training Curriculum
Component:Introduction to Health Care and Public Health in the U.S.
Unit:Financing Health Care - Part 2
Lecture:The Revenue Cycle of Various Health Care Enterprises
Slide content:Importance of Charge Capture Ensures proper reimbursement for services provided Permits reevaluation of episode of care reimbursement arrangements 14
Slide notes:Charge capture is essential to ensure the health care organization or provider properly bills and receives reimbursement for the health care services provided. This becomes all the more important in whats called episode of care reimbursement. Briefly, in episode of care reimbursement, a provider receives a single fee, no matter the services and the costs of providing the services. Since the cost of providing services may exceed the revenue received using this reimbursement method, providers must collect an accurate representation of the cost of providing the service using charge capture. In other words, providers must evaluate if they have taken on too much risk or cost in providing care in this reimbursement methodology. By tracking charges, the provider may terminate or renegotiate the contract for reimbursement in the event that costs exceed revenue. Episode of care reimbursement will be discussed at length later in this lecture. 14