In any health care or medical facility, medical billing and coding play a critical role to assure patient safety, prompt payment, and efficient operations. Knowledgeable, skilled, and trained professionals handle medical billing and coding, who have the capability to read, analyze, record, and document complex medical information effectively and promptly while maintaining patient confidentiality, data organization, and strong attention to detail. Consider medical billing and coding if you are still using the old or traditional way of documentation and billing because this is essential when it comes to modern medicine.
Medical coding refers to the process of taking or documenting information or data about a patient’s diagnosis, procedures, medications, treatments, and equipment, translating them into alphanumeric codes. The different sources of patient data include radiologic assessments, electronic records, medical notes, transcriptions, and laboratory results. The main responsibility of handling medical coding are called medical coders, who are professionals in transferring these codes from the sources to patient records and medical billing systems. Medical coding is a very important step of any medical claims process, wherein patient data are submitted to the insurance companies for billing patients and insurers. Medical coding indirectly affects medical care most especially when it comes to insurance reimbursement. Doctors are now required to list untreated diagnoses, underlying conditions, and precautions most especially that we are living in a medical environment of fee-for-service. Having an accurate and effective medical coding ensures that insurance companies have all the diagnostic codes needed for appropriate payment. Medical coding plays a crucial role in assessing demographics and studies of the prevalence of disease, treatment outcomes, and reimbursement systems.
Medical billing is essential to ensure a smooth revenue cycle operation. Medical billers are professionals who are highly knowledgeable and trained in different medical regulations, as well as public and private insurance policies. Medical coding and medical billing are regulated and governed by federal and state guidelines such as Health Insurance Portability and Accountability Act (HIPAA). HIPAA aims in protecting patient confidentiality, so hospitals and other medical facilities must take appropriate measures in protecting patient information. HIPAA guidelines cover the International Classification of Diseases (ICD-10) issued by the World Health Organization, and electronic medical records.
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