In which step of the revenue cycle do providers submit claims to insurance companies?

The choice indicating that claims are submitted to insurance companies during the preparation and transmission of claims is accurate because this step specifically focuses on the activities involved in getting the completed claim forms from the healthcare provider to the payer. In the revenue cycle, once the coding and billing documentation are finalized and reviewed for accuracy, the next crucial step is to prepare these documents into a claim format that meets payer requirements and regulations.

During this phase, medical coders and billers ensure that all necessary information is included, such as patient demographics, procedures performed, diagnoses, and relevant coding. The transmission can involve electronic claim submissions through designated software systems or manual submissions depending on the payer's protocols. This process is essential to initiate the payer's review and ultimately secure reimbursement for the services rendered.

The other steps in the revenue cycle, such as reviewing coding compliance, checking out patients, and monitoring payer adjudication, play important roles but do not directly involve submitting claims to insurance companies. They are focused on ensuring accuracy, facilitating patient transactions, and tracking the claim's status after submission, respectively.