Most health care professionals are specially trained in diagnosing, treating, and preventing disease, not medical billing. A medical billing service can help to make life easier for doctors and medical professionals across all disciplines and specialties by outsourcing this aspect of administrative work to a trained professional. With the complexities of medical billing and coding, this service can help relieve much of the administrative work associated with operating a medical practice. Medical billing services were created to help increase cash flow and profitability, which consequently provides more resources for the medical professional to better take care of their patients.The medical billing and coding system can be difficult for the average administrative worker to understand. Although it is possible for the average administrative staff to handle billing and invoicing the insurance company, most will quickly find that doing so takes much of the focus away from caring for the patients. It can become difficult to keep through patient records and appointments when the administrator must also submit multiple invoices to several different insurance companies. Furthermore, any errors in the invoicing can result in a rejection of claims, which can result in a lack of cash flow. Instead, many medical billing services are owned and operated by a Certified Professional Coder (CPC) or Certified Medical Reimbursement Specialist (CMRS). These are professionals with an administrative background specialized in medical coding and billing. This is a vocation that requires extensive training that prepares the individual for handling insurance company claims. Although the certification is not required to perform medical billing, it certainly provides the training necessary to provide effective billing services.
While there is a cost associated with employing these services, there are more savings in outsourcing, rather than hiring and training additional administrative workers. For instance, many medical billing services charge for their services based on commission. This means that the service does not expect payment until they receive payment on behalf of the doctor. This provides a better value, especially since many services expect an up-front payment without any guarantee that their services are effective.
Efficiency is one of the best ways to make any business profitable. This is no different for a medical practice. Since many practices receive up to 90 percent of their income from insurance claims, efficiency in billing an invoicing can either make or break a successful practice. A doctor who is more concerned with submitting the proper paperwork to receive payment from the insurance company cannot focus on properly caring for their patients.
Author: Andrew Stratton
Source: http://www.articledashboard.com
