Medical Billing and Coding Process – A General Overview
It may seem to be the most mundane thing in a medical office, but medical billing and coding can turn out to be the most frustrating task if not handled properly. Of utmost importance when it comes to maintaining a steady revenue cycle, these vital processes often remain like the evading genie slipping out of your hand when you think you have it in control. Healthcare practitioners as well as medical students who are to be the physicians of the future must be fully aware of the various processes involved in medical billing and coding if flawless billing is to become a reality.
Core Tasks Involved in Medical Coding and Billing
To ensure that medical reimbursements and claims are provided by the insurance companies on time for all the services rendered to the insured patients, the coding and billing process has to be thorough and flawless. Coding and processing of medical bills and insurance claims comprise a series of complex tasks that need to be done with extreme accuracy, as any sort of errors in billing and coding can lead to claim denials and rejections. Let us look at the processes involved in medical billing:
- Patient Enrollment (Demographics and Charges)
- Patient Scheduling and Reminders
- Insurance Enrollment (for Physicians and Offices)
- Insurance Authorizations
- Insurance Verification
- Coding and Audits
- AR Management (Insurance and Patient)
- Account Analysis and Denial Management (EOB Analysis)
- Billing and Reconciling of Accounts (Payment Posting)
- Financial Management Reporting
Taking into account the busy schedule of healthcare providers, it is advisable to hand over these tasks to a professional medical billing firm.
Reduce Coding and Billing Errors and Maximize Profit
To meet the billing and coding requirements of various healthcare entities, many experienced outsourcing companies are providing professional medical billing and coding services throughout the United States. Outsourcing the billing and coding tasks of your healthcare practice to such medical billing companies will help you benefit from quality solutions. Experienced outsourcing companies provide consistent services covering all the major billing and coding tasks outlined above.
Outsourcing companies that offer medical billing services are equipped with advanced infrastructure, and have on staff experienced billing and coding specialists. These professionals utilize the latest medical billing software such as Practice Admin, IDX, Eclipse, Medisoft, NextGen, Lytec, and eClinicalWorks among others, to process all medical bills and claims without errors within a minimum time. Specialized medical coding services from dependable medical coding companies help healthcare entities considerably reduce expenses that may be otherwise required to train and recruit coding and billing staff. Efficient services of these companies also ensure many additional benefits such as:
- Helps submit accurate medical bills and insurance claims
- Timely reimbursement
- Reduce workload
- Reduce medical coding and billing backlogs
- Streamline the workflow of your medical practice
Pick a Reliable Firm for Affordable Services
In short, well-organized medical coding services can help improve the overall efficiency of your healthcare facility as well as make it more profitable through maintaining a balanced revenue system. Entrusting your medical coding and billing jobs to professional firms also ensures many other benefits including:
- 100% HIPAA compliant solutions
- Fast turnaround time
- 24/7 based customer support
- Free trial offer
- Competitive pricing 30% to 40% lower than market rates
Considering this array of benefits, healthcare practices planning to outsource medical billing and coding tasks should ideally get in touch with a reliable medical billing and coding company. With such a firm you stand to benefit from customized and budget-friendly medical billing solutions that best suit the requirements of your healthcare facility.
About The Author
OSI offers medical billing and coding services for clients to ensure timely reimbursement, ultimately affecting their bottom line and cash flow. OSI also offers quality physician billing services to prevent backlog and heavy financial losses in medical practices
Processing your request, Please wait....
