A Certified Revenue Cycle Executive (CRCE) is a managerial professional who works in the financial side of the health care system. Revenue cycle professionals are responsible to supervise patient registrations, billing procedures and collection processes.
Why Revenue Cycling Matters
Revenue cycling is a term specific to the health care industry. It refers to the financial administration processes that capture, collect and manage patient revenues. Revenue cycle management (RCM) oversees the entire financial life of a patient’s account from creation to claims to payment. The revenue cycle process begins with patient admission, continues to discharge, and concludes with final receipts paid. However, sometimes collections become the final stage of the process. Overall, the sensitive and critical nature of the data demands ethical behavior and accurate collection of patient information. Revenue cycle professionals must protect patient confidentiality while also properly coding services and collecting owed money
A Certified Revenue Cycle Executive
The American Association of Health Care Administrative Management (AAHAM) is the only accrediting organization that offers exclusive certification exams for revenue cycle professionals. The exam is designed for senior or executive health care leaders who work in the revenue cycle profession. The purpose of the exam is to help these professionals improve their strategic management of revenue cycle processes. However, the exam contains the highest level of difficulty of all the AAHAM’s revenue cycle certifications.
CRCE Exam Basics
The AAHAM actually offers two distinct types of certifications for executives. The first concentrates on revenue cycles within traditional institutions, such as hospitals, and the second concentrates on revenue cycle within alternative settings, such as physician offices. The CRCE exam rigorously tests the candidates’ knowledge of health care revenue cycle management. The exam itself is an eight hour online exam that includes a variety of question types.
CRCE Exam Content
The CRCE exam comes in two formats: one for professionals who work in large health care institutions and one for professionals who are employed in small offices. However, both exams share three identical topics: billing, credit or collections and revenue cycle management. However, the institution exam asks detailed questions about patient access and the professional exam asks questions about front desk management.
What are the Benefits of Passing the CRCE Exam?
Health care financial administrators who pass the CRCE exam demonstrate to their patients, employees and the government that they are educated and competent. The CRCE exam distinguishes the holder as being a leader and source of knowledge in the revenue cycle industry. The CRCE certification confirms the holders’ professional proficiency and dedication to accurate and transparent health care revenue services. The CRCE exam will also help the individual obtain promotions through expanding their career growth and possibilities.
What are the Benefits of Revenue Cycle Management?
There are three main benefits of proper health care revenue cycle management. First, it improves access management through centralized registration, scheduling and insurance processing. Second, it improves organizational management of health care consumerism. This means that consumers are empowered through technology to access their information, research costs, make payments and schedule appointments. Finally, it vastly accelerates the cash and credit collection process. This means that the revenue cycle capture process is streamlined and standardized.
To recap, revenue cycle management is the key to keeping health care costs affordable for both health care consumers and organizations. A Certified Revenue Cycle Executive is a health care administrator who is in charge of revenue cycle management in health care organizations of all sizes.