Medical billing is the vital process of submitting and following up on claims with health insurance companies to receive payment for services rendered by healthcare providers. It involves translating healthcare services into universal medical alphanumeric codes for accurate billing and reimbursement. The Medical Billing process begins with the patient's visit to a healthcare provider, where services provided are documented along with relevant patient information. These details are then translated into codes, such as Current Procedural Terminology (CPT) and International Classification of Diseases (ICD) codes, which are used universally for medical billing.
Once the services are coded, the
Medical Billing process involves submitting claims to the appropriate insurance companies or government healthcare programs. This step requires careful attention to detail to ensure accuracy and compliance with insurance regulations. After submission, the claims undergo review by the insurance company, during which they assess the validity of the services provided and determine the amount of reimbursement owed to the healthcare provider. Timely and accurate submission of claims is crucial to expedite the reimbursement process and maintain cash flow for the healthcare practice.
