What is the function of the compliance audit in revenue cycle management?

The function of the compliance audit in revenue cycle management is primarily to assess adherence to policies and regulations. In the context of healthcare, a compliance audit ensures that the organization is following the relevant laws, regulations, and internal policies governing healthcare billing, coding, and reimbursement practices. This process helps identify areas where the organization may be at risk of non-compliance, which can lead to financial penalties, legal issues, or reputational damage.

By conducting compliance audits, organizations can evaluate their practices against established standards and thus ensure that they are operating within the legal framework. This not only protects the organization but also promotes ethical practices in the management of healthcare revenue.

The other choices, while relevant to various aspects of healthcare management, do not capture the essence of what compliance audits specifically address within the revenue cycle. Financial performance metrics, marketing strategies, and patient engagement may all be critical areas of focus, but they do not entail the regulatory and policy adherence that compliance audits are designed to evaluate.