Medical billing is defined as the process of claiming for payment on the medical expenses and services by an insurance company or by a medical institution. This can be done electronically or even manually.
What is the Medical Billing Process?
This can vary from one place to another. Once the patient has been treated, the healthcare provider enters the diagnosis and the cost of all the services done and sends it electronically or physically to the insurance company for payment. The whole process may take a few days to weeks depending on the policies of the companies. The insurance company then approves or rejects the billing.
The healthcare provider then clarifies the issue and resubmits it for the claims. Allowable amount is the money that the insurance pays. Some of the claims can be rejected and not accepted if the patient has issues of clarity with the insurance.
This is because of the direct interaction and of the specialized work. This is also an economic way of getting claims especially if it is outsourced as no additional money will be needed to pay for stuff and to buy computers and to create space for the personnel.
The process is very fast and reduces queue in the medical places thus offering patients satisfaction on the services. It also reduces case of default in payment by ensuring all the bills are met by the insurance company.
Type of Medical Billing Services
Following are the jobs performed under the medical billing service:
It reduces the amount of paper work that the medical practitioners have to do for them to get their claims. In this case it acts as a middle person between the health care provider and the insurance.
Since they offer a specialized service, they ensure that the claims are correct and they eliminate errors as they clearly show the services provided and their cost.
The ophthalmology billing service submits claims from the healthcare providers to the insurance companies.
There are no standard requirements for the billing professionals and many people can be trained and once they show competence they can be considered for the job.