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Someone must handle the insurance and patient billing, also known as medical coding, at every medical facility. Doctors or office managers may perform these chores in addition to their primary responsibilities, or they may be delegated to an employee or employees.Since clinical staff needs to focus on patient care, it is common practice to have trained professionals handle the crucial administrative work of coding and billing.
Coding and billing services for healthcare transform patient encounters into the vocabulary of claims and compensation.Providers can't get paid for their services without going through the two distinct but interrelated steps of billing and coding.Billing patients and submitting insurance claims requires the use of medical codes. On the other hand, medical coding refers to the process of extracting billable information from a patient's medical record and clinical documentation. The creation of claims is the hub of the healthcare revenue cycle, where medical billing and coding meet.
The procedure begins with the patient signing up and concludes when the provider is paid for all services rendered. The time it takes to complete the medical billing and coding cycle varies from a few days to several months, depending on the nature of the services provided, the effectiveness of the organization's claim denial management, and the frequency with which patients are required to pay their bills.Having a well-trained medical billing and coding team can help healthcare companies run more efficiently, allowing doctors and other employees to receive full reimbursement for their high-quality treatment.