A Certified Revenue Cycle Professional is a representative in the healthcare arena who works with revenue cycle within the field of finance. In order to earn this certification, which is granted by the American Association of Healthcare Administrative Management, you must be able to demonstrate a high level of knowledge of revenue cycle and how to improve the financial performance of a hospital or healthcare facility. If you are currently working in healthcare or you are planning to in the future, read on and learn more about becoming a CRCP and how it can benefit you.
What Does a Revenue Cycle Professional Do?
A revenue cycle professional is responsible for working in the financial area of the healthcare system. As a mid-level professional who deals with all areas of the revenue cycle, a specialist in this area will do everything from monitoring patient registrations and performing billing tasks to handling collections and reviewing financial statements. It is important to hire experienced specialists in this area of healthcare administration because such confidential data is used in revenue cycling and patient confidentiality must be a priority.
What is the Purpose of Certification in Revenue Cycling?
The American Association of Healthcare Administrative Management is a professional organization in health administration that aims to help professionals in the field develop into experts while they advance their knowledge. The organization offers several different professional certifications and three different levels of certifications in revenue cycling.
The level 1 certification for entry-level staff is the Certified Revenue Cycle Specialist. Following that, you can become a level 2 professional that is called a Certified Revenue Cycle Professional. If you still want to move up past the CRCP credential, you can become a level 3 certification that is for the Certified Revenue Cycle Executive. Each of these help you show off your experience and expertise in revenue cycling, while you make yourself a more marketable asset in healthcare administration.
How to Become a Certified Professional in Revenue Cycling
If you want to move up to higher supervisory positions and improve your earning potential, it is time to investigate how you can become eligible for certification. The first qualification is that you are an AAHAM member. Next, you must have at least 2 years of experience in the healthcare field or a 2-year associate's degree to replace the professional experience requirement. If you meet these requirements, you will then need to take one of the two certification exams and pass with a grade of 70% or better. You will also need to pay the application fees before you can sit for the exam.
Types of Professionals Who Need to Get Certified
There is a long list of different types of professionals in administration who can benefit from getting certified. Here are some of the professionals who can get certified and enjoy the benefits of being a distinguished professional: Patient Access, Billing, Collections, Revenue Cycle Management and Front Desk.
All healthcare facilities need to focus on the importance of financial healthcare management if they want to succeed. Since finance is a major focus in healthcare administration, it is a stable area of administration to work in. Consider spending time studying for a degree in finance or healthcare and then you will be a step closer to earning that Certified Revenue Cycle Professional title.