Executive Solution Overview
## Overview Much of what happens in healthcare is about understanding the expectations of the many departments and personnel within the organization. Reimbursement drives the financial operations of healthcare organizations; each department affects the reimbursement process regarding timelines and t…
Assignment Prompt & Instructions
## Overview
Much of what happens in healthcare is about understanding the expectations of the many departments and personnel within the organization. Reimbursement drives the financial operations of healthcare organizations; each department affects the reimbursement process regarding timelines and the amount of money put into and taken out of the system. However, if departments do not follow the guidelines put into place or do not capture the necessary information, it can be detrimental to the reimbursement system.
An important role for patient financial services (PFS) personnel is to monitor the reimbursement process, analyze the reimbursement process, and suggest changes to help maximize the reimbursement. One way to make this process more efficient is by ensuring that the various departments and personnel are exposed to the necessary knowledge.
In Milestone Two, you will begin thinking about reimbursement in terms of billing and marketing. Reimbursement is a complex process with several stakeholders; this milestone allows you to begin thinking about the key players, including third-party billing, data collection, staff management, and ensuring compliance. Marketing and communication also plays a vital role in reimbursement; this milestone offers a chance to begin analyzing effective strategies and their impact.
## Prompt
Using the provided template in the Guidelines for Submission, submit your draft of Sections III and IV of the final project. Specifically, the following **critical elements** must be addressed:
1. **Billing and Reimbursement**
– Analyze how **third-party policies** would be used when developing billing guidelines for patient financial services (PFS) personnel and administration when determining the payer mix for maximum reimbursement. How do third-party policies impact the payer mix for maximum reimbursement?
– Organize the **key areas of review** in order of importance for timeliness and maximization of reimbursement from third-party payers. Explain your rationale on the order.
– Describe a way to **structure** your follow-up staff in terms of effectiveness. How can you ensure that this structure will be effective?
– Develop a **plan** for periodic review of procedures to ensure compliance. Include explicit steps for this plan and the feasibility of enacting this plan within this organization.
2. **Marketing and Reimbursement**
1. Explain how new managed care **contracts** impact reimbursement for the healthcare organization. Support your explanation with concrete evidence or research.
2. Discuss the resources needed to ensure billing and coding **compliance** with regulations.
3. Evaluate strategies to ensure stakeholders involved in the reimbursement process adhere to **ethical standards**
## What to Submit
Your draft must be submitted as a 3- to 5-page Microsoft Word document using the provided [template](https://learn.snhu.edu/content/enforced/2021975-HCM-345-16019.202581-1/Course%20Documents/HCM%20345%20Milestone%20Two%20Template.docx?isCourseFile=true&ou=2021975). Sources should be cited in APA format.