Medical Billing Process Essay
SAVE YOUR RESOURCES BY OUTSOURCING TO OFFSHORE BILLING COMPANIES
Medical Billing process is crucial to the healthcare industry to follow up on medical claims and submit the same to the insurance agencies. This can also be referred to as the billing cycle. This process may take a few days to several months before the medical provider gets payment for the services rendered. This process starts with the patients’ visit to the hospital. The full details of the patient, the purpose of his visit, previous ailments if any etc. are gathered and recorded. The medical record of the patient is updated briefing about the diagnosis, medical treatment done and other relevant information. The recorded information is then transcribed into alphanumeric procedural codes for the purpose of submitting claims to the insurance firms. Overall, medical billing helps in building up a strong relationship between the medical providers and the insurance companies by managing the healthcare industry’s billing cycle.
In a healthcare organization, the …show more content…
Outsourcing is the process of handing over a company’s business practice to an external vender in order to reduce the labour cost along with 100% quality assurance. Outsourcing saves resources, saves cost and also saves time. When outsourcing is done by companies located in other countries other than the medical provider it is termed as Offshore Outsourcing. Though most businesses have heard about offshore companies, only a few of them are totally aware of their nature of work. Most of the Offshore Billing companies are HIPAA compliant and provide all aspects of medical billing services for all types of medical specialities at affordable rates. With their dedicated team of specialized medical billers, they help to increase the amount of reimbursement and reduce the operational cost of the healthcare
Medical Billing process is crucial to the healthcare industry to follow up on medical claims and submit the same to the insurance agencies. This can also be referred to as the billing cycle. This process may take a few days to several months before the medical provider gets payment for the services rendered. This process starts with the patients’ visit to the hospital. The full details of the patient, the purpose of his visit, previous ailments if any etc. are gathered and recorded. The medical record of the patient is updated briefing about the diagnosis, medical treatment done and other relevant information. The recorded information is then transcribed into alphanumeric procedural codes for the purpose of submitting claims to the insurance firms. Overall, medical billing helps in building up a strong relationship between the medical providers and the insurance companies by managing the healthcare industry’s billing cycle.
In a healthcare organization, the …show more content…
Outsourcing is the process of handing over a company’s business practice to an external vender in order to reduce the labour cost along with 100% quality assurance. Outsourcing saves resources, saves cost and also saves time. When outsourcing is done by companies located in other countries other than the medical provider it is termed as Offshore Outsourcing. Though most businesses have heard about offshore companies, only a few of them are totally aware of their nature of work. Most of the Offshore Billing companies are HIPAA compliant and provide all aspects of medical billing services for all types of medical specialities at affordable rates. With their dedicated team of specialized medical billers, they help to increase the amount of reimbursement and reduce the operational cost of the healthcare