Medical Billing: What’s All the Fuss About?

We see so many medical billing advertisements. Earn a lot of money! Work from home! No experience necessary! The ads say that anyone can make a lot of money from medical billing, but is it really true?

Health insurance billing has become much more complicated in recent years. If a doctor is to be paid well for his services, insurance billing is a very important part of his practice.

There is much more to medical billing than simply submitting a claim to an insurance company and sitting back waiting for payment. Each company has its own rules and to collect we must know and follow them. How do you learn about these rules and where do you go for medical billing information?

Because it has become so complicated, it has become more and more difficult to find employees who can handle this time-consuming job. A doctor’s office is a busy place, and your employee may not have half an hour to wait on hold while reviewing a claim, to be told by a customer service representative that the claim is “not on file.”

Since their income and ultimately the success of their office are highly dependent on billing being done effectively, physicians have found it increasingly cost effective to outsource their medical billing to professionals who can focus solely on your billing. If the billing service is paid based on your results, the doctor is more likely to maximize your accounts receivable.

medical billing service You’re going to focus your efforts on getting all claims paid when the service is paid according to your results, whereas a billing person in the office is more likely to say on a busy day, “Forget it. This claim won’t work!” worth another phone call!! Unfortunately, in most offices, this claim will be canceled and the doctor will never know about it.

There are so many things involved with billing that most people, including doctors, don’t even realize it. Claims must be filed properly and on time, on the correct forms.

If claims are submitted electronically, the reports should 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 liability after payment is made, a patient statement must be submitted. If the claim is denied or not paid properly, it must be handled and handled quickly. If the denied or incorrect payment is not acted upon immediately, you may not be able to correct it.

Some companies only allow a certain amount of time to request a rollback. Aging reports should be run regularly to make sure nothing else escapes. Most offices lose thousands of dollars a year due to claims slipping away; either incorrectly processed/denied, or not processed at all. If you’re not working on your aging reports, you’re losing money!

But Medical Billing Services is not getting rich as the ads show. There is no simple and easy way to do medical billing that the doctor’s office does not know about.

There is still a lot of work to be done to file medical claims and get paid. Don’t expect that you can start this business without some background or education. There is a lot of medical billing information that you need to know in order to successfully run a billing business.

Medical billing is not a get-rich-quick scheme. If you are considering starting such a business, you must have a keen interest in the field and a willingness to learn much more.

As with any other business you would consider starting, do your homework. Research the field, read all the medical billing information you can, and make sure you know what you’re getting yourself into. After all, it takes a lot more than a computer and a kitchen table to do a good job and run a successful business. Make sure you understand what will be required of you.

There is a lot of medical billing information out there. Make sure the information you get is from a reliable source. With a growing field like this, unfortunately there are also many scammers trying to sell you information that is worthless.