Medical billing and_coding_process


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Medical billing and_coding_process

  1. 1. Medical Billing and Coding Process - A General OverviewIt may seem to be the most mundane thing in amedical office, but medical billing and codingcan turn out to be the most frustrating task if nothandled properly. Of utmost importance whenit comes to maintaining a steady revenue cycle,these vital processes often remain like theevading genie slipping out of your hand whenyou think you have it in control. Healthcarepractitioners as well as medical students whoare to be the physicians of the future must befully aware of the various processes involved inmedical billing and coding if flawless billing isto become a reality.Core Tasks Involved in Medical Coding and BillingTo ensure that medical reimbursements and claims are provided by the insurancecompanies on time for all the services rendered to the insured patients, the coding andbilling process has to be thorough and flawless. Coding and processing of medical billsand insurance claims comprise a series of complex tasks that need to be done with extremeaccuracy, as any sort of errors in billing and coding can lead to claim denials andrejections. Let us look at the processes involved in medical billing: • Patient Enrollment (Demographics and Charges) • Patient Scheduling and Reminders 1
  2. 2. • 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 ReportingTaking into account the busy schedule of healthcare providers, it is advisable to hand overthese tasks to a professional medical billing firm.Reduce Coding and Billing Errors and MaximizeProfitTo meet the billing and coding requirements of various healthcare entities, manyexperienced outsourcing companies are providing professional medical billing and codingservices throughout the United States. Outsourcing the billing and coding tasks of yourhealthcare practice to such medical billing companies will help you benefit from qualitysolutions. Experienced outsourcing companies provide consistent services covering all themajor billing and coding tasks outlined above.Outsourcing companies that offer medical billing services are equipped with advancedinfrastructure, and have on staff experienced billing and coding specialists. Theseprofessionals utilize the latest medical billing software such as Practice Admin, IDX,Eclipse, Medisoft, NextGen, Lytec, and eClinicalWorks among others, to process all 2
  3. 3. medical bills and claims without errors within a minimum time. Specialized medicalcoding services from dependable medical coding companies help healthcare entitiesconsiderably reduce expenses that may be otherwise required to train and recruit codingand billing staff. Efficient services of these companies also ensure many additional benefitssuch 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 practicePick a Reliable Firm for Affordable ServicesIn short, well-organized medical coding services can help improve the overall efficiency ofyour healthcare facility as well as make it more profitable through maintaining a balancedrevenue system. Entrusting your medical coding and billing jobs to professional firms alsoensures 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 ratesConsidering this array of benefits, healthcare practices planning to outsource medicalbilling and coding tasks should ideally get in touch with a reliable medical billing and 3
  4. 4. 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.For More Information:OutSource Strategies InternationalUnited States Main Office8596 E. 101st Street, Suite HTulsa, OK 74133Phone 800-670-2809 4