CMS

Center for Medicare and Medicaid Services
Student’s Name
Institutional Affiliation
Abstract
The Centers for Medicare & Medicaid Services has undergone an objective historical development since its establishment in 1965. The system began performing reimbursement services in the year it was formed. Some of the roles which the system was associated with include of administering Medicaid, health insurance packages, Children’s Health Insurance Program, and other Medicare programs. The reimbursement system was highly administered in all Medicare as well as Medicaid operations. In 1967, the system was amended to make it oversee several sections of healthcare. In 1970, clauses of administration standards were included in the system. In 1996, the system was combined with the Health Insurance Portability and Accountability Act (HIPAA). The hybrid system made it possible to govern resources and their flow in healthcare facilities. In 2002, the system was certified and became possible to govern the different operations of healthcare. On the other hand, hospital revenue cycle management is used to manage various operations of an office. The process entails the organization of financial data in a manner that it becomes easy to monitor.

Center for Medicare and Medicaid Services
The Centers for Medicare & Medicaid Services (CMS) is the federal agency which works for the United States Department of Health and Human Services (HHS). The agency is tasked with the duty of administering Medicaid, health insurance packages, Children’s Health Insurance Program (CHIP), and other Medicare programs.

CMS traces its origin back in 1965 July. This was the time when Lyndon B Johnson, the then president of the U.S approved the Social Security Amendments. The amendment which was signed established a place for Medicare as well as Medicaid. At this time, CMS helped in the provision of health insurance services to over 19 million people. In 1967, the Social Security Administration (SSA) amended CMS reimbursement system in a way that it began overseeing the Healthcare.gov (USA.gov, 2018).
By 1970, the system was developed in a way that it became able to simplify administrative standards. The system made it possible to oversee different accounting operations. In 1996, the Health Insurance Portability and Accountability Act (HIPAA) was formulated and incorporated into the reimbursement system. The hybrid system defined quality standards as well as professionalism in nursing homes and other long-term medical facilities. In 2002, the system underwent a certification process, and it was made to govern the entire healthcare processes and basically resource allocation (USA.gov, 2018).
Hospital revenue cycle management entails the steps involved in managing the various healthcare claims specifically the ones dealing with resources. The procedure helps in organizing financial data in a healthcare facility. It incorporates the whole healthcare life of individual patients’ accounts. The accounts are easily managed through monitoring from the point they are created to the time when the patient is required to pay their bill. The cycle processes are dependent on one another. The processes which are both analogues, as well as electronic, are translated in the form of billable fees.
Reference
USA.gov. (2018). Centers for Medicare and Medicaid Services | USAGov. Usa.gov. Retrieved 17 May 2018, from https://www.usa.gov/federal-agencies/centers-for-medicare-and-medicaid-services