Why is the billing process important? Explain.

by Anonymous

Why is the billing process important? Explain.


Response:

In short its important because that's how providers and their staff get paid.

The billing process is vital to the existence and financial health of a medical practice or facility - such as a hospital. So its important to have accurate patient insurance information, data of birth, address, etc. This information must be correctly entered and submitted with CPT treatment and ICD diagnosis codes in the claim.

Once the claim is paid, the contracted insurance payment, write-off, and patient responsibility must be entered into the medical claim software to keep the patient accounts current. This is the info from the Explanation of Benefits (EOB) or Electronic Remittance Advice (ERA) provided with the insurance payment.

Keeping this info current is vital to managing patient accounts and keeping them current. Practices whose patient accounts are not maintained well require a lot of time and effort to clean up. And there’s usually a lot of lost revenue when these the patient accounts are not kept up.

So in summary the medical billing process is important to insure the provider is paid for their services as well as the providers staff.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Your Questions.

Recent Articles

  1. Getting clients

    Mar 31, 18 09:47 AM

    Besides networking .. visiting their offices, how else can you attract their business? When you close the collections month, how do you bill the physicians?

    Read More

  2. Pricing for Claims Editing, Resolution, and Insurance Verification

    Mar 31, 18 09:36 AM

    I have a potential client that is requested claim scrubbing resolutions (only corrections on claims submission errors) and insurance verification on the

    Read More

  3. What to Do When a Provider Has a New Tax ID

    Mar 31, 18 09:28 AM

    The provider that I bill for just advised that he has a new tax ID. What is the process for this change? Would every insurance company need to be contacted?

    Read More

Disclaimer and Privacy

All-Things-Medical-Billing.com provides this website as a service. Please read our full Disclaimer and Privacy Policy here.


Copyright 2018 All-Things-Medical-Billing.com