What is the first step in the revenue cycle process?

Preregistering patients is indeed the first step in the revenue cycle process. This initial phase is crucial as it involves gathering necessary information about the patient before their visit, which can include their insurance details, personal information, and medical history. By preregistering patients, healthcare facilities can ensure that they have accurate and complete information, which aids in determining the patient’s insurance eligibility and any financial responsibilities associated with the healthcare services to be provided.

This preliminary step sets the stage for subsequent processes, such as establishing financial responsibility, which assesses the patient's coverage and potential out-of-pocket costs. Thus, it demonstrates the importance of having a well-organized system for managing patient information right from the start, helping to streamline the complete revenue cycle.