Medical Billing - What's All The Hype About? Submitted By: Michele
Redmond
We see so many ads for Medical Billing. Earn lots of money! Work from
home! No experience needed! The ads say anyone can make lots of money
doing medical billing, but is it really true?Medical insurance billing
has become much more complicated in recent years. If a doctor is to
be paid well for his services, the insurance billing is a very large
part of his practice.
There is a lot more to medical billing than just sending a claim in
to an insurance company and sitting back to wait for the payment.
Each company has its own rules and in order to get paid, we must know
them and follow them. How do you learn these rules and where do you
turn for medical billing information?Because it has become so complicated,
it has become increasingly difficult to find employees who can handle
this time consuming job. A doctor’s office is a busy place and his
employee may not have half an hour to wait on hold while checking
on a claim,
for a customer service representative to tell her
that the claim is “not on file”.Since their income, and ultimately
the success of their office relies so heavily on the billing being
done effectively, Doctors have found it increasingly cost-effective
to outsource their medical billing to professionals who can concentrate
solely on his billing. If the billing service is being paid on the
basis of their results, the doctor is more likely to maximize his
receivables.The medical billing service is going to concentrate
their efforts on getting every claim paid when the service is paid
according to their results while a billing person in the office
is more likely on a busy day to say “Forget it.
This claim isn’t worth another phone call!!” Unfortunately in
most offices this claim will be written off and the doctor will
never know.There is so much involved with billing that most people,
including the doctors, don’t even realize. The claims have to be
submitted properly, and timely, on the correct forms.If claims are
being submitted electronically, reports need to be read and acted
upon. When payments are received, they need to be analyzed to make
sure they were processed correctly, and then posted.If there is
a patient responsibility after payment is made, then a patient statement
needs to be sent. If the claim is denied, or not paid properly,
it needs to be handled, and handled quickly. If the denial or incorrect
payment is not acted upon right away,Click
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