Talk To An Expert
Our Office

Medical Billing

Medical Billing is the comprehensive process of submitting and managing claims with health insurance companies. It involves accurately billing patients and insurers for healthcare services rendered, ensuring proper reimbursement for medical practitioners.

Benefits of Medical Billing

In the healthcare industry, medical billing plays a crucial role in ensuring financial stability and smooth operation. It's the process of submitting claims to insurance companies for services rendered by healthcare providers. Here's a breakdown of some key benefits medical billing offers:

89%

01

Financial Stability:

Efficient medical billing practices ensure timely and accurate reimbursement from insurance companies. This steady stream of revenue allows healthcare providers to remain financially stable and reinvest in equipment, staff, and patient care initiatives.

78%

02

Improved Cash Flow:

Faster claim processing and fewer denials translate to quicker receipt of reimbursements. This improves cash flow and helps practices meet their ongoing financial obligations.

94%

03

Reduced Administrative Burden:

Streamlined medical billing processes minimize time and resources spent on managing claims. This frees up staff to focus on other essential tasks like patient care and practice management.

READ FAQ

There Are Many Common Questions Here!

Contact Now Contact Now

Charge posting typically includes details like:
Patient demographic information: Patient name, ID number, insurance information.
Date of service: The date the service was rendered.
Place of service: Where the service took place (e.g., hospital, clinic)
Healthcare provider: The doctor or clinician who provided the service.
Service codes: The specific medical codes representing the services performed.
Procedure codes: The CPT® codes identifying the specific procedures performed.
Diagnosis codes: The ICD-10-CM codes representing the patient's diagnoses.
Charges: The associated fees for the services rendered.
Modifiers (optional): Additional codes clarifying specific details about the service.

The responsibility for charge posting can vary depending on the practice size and structure. It can be handled by:
Coders: Medical coders may be responsible for both assigning codes and entering charges into the billing system.
Charge entry specialists: Some practices may have dedicated staff focused solely on entering charges based on physician notes or coder recommendations.
Physicians: In smaller practices, physicians may directly enter charges into the electronic health record (EHR) system.

Here are some key practices to ensure accurate charge posting:
Timely posting: Charges should be posted as close to the date of service as possible to minimize errors and improve cash flow.
Complete documentation: Ensure all necessary information, including service codes, modifiers, and diagnoses, is captured accurately.
Regular auditing: Implement a system for regular audits to identify and rectify any errors in charge posting.
Clear communication: Maintain clear communication between physicians, coders, and billing staff to ensure everyone understands the services provided and the associated charges.
Staying up-to-date: Keep staff informed about changes in coding guidelines and fee schedules to ensure charges reflect current regulations.