“The revenue cycle is electric. “
-Margaret G. Spokes
According to Margaret G. Spokes, MBA, chief financial officer at Greater Lane Hospital in Santa Barbara, CA, the revenue cycle is electric. Does this mean it runs on electricity or is it electrically charged with excitement?
Spokes comments, “The revenue cycle has an electric assist motor, and it’s exciting. In our case, we let doctors ride a literal revenue cycle around the hospital visiting different departments to get familiar with each step of our financial revenue cycle. For instance, documentation is crucial. We need complete documentation for billing. The revenue cycle route includes a ride by the clinical documentation office.”
The revenue cycle needs ongoing maintenance. Bobby Coin, chief operations officer at Greater Lane elaborates, “Our revenue cycle needs the proper tire pressure. That’s going to help it roll with efficiency. We also need to customize it. One physician requested chrome fenders, and another wants handlebar tassels.”
Greater Lane’s revenue cycle does sound exciting. We asked Spokes and Coin if popping a wheelie on the revenue cycle is allowed. Both answered with a resounding, “No!”