The medical billing companies are different from the medical coding companies in many ways. In medical billing, you use proprietary data software to enter data into a system, while in medical coding, you have to get in touch with healthcare professionals such as doctors and nurses. The main aim here is to classify the services that a healthcare facility has offered to a patient. In medical billing, you submit insurance claims to the insurers. In medical coding, you apply standardized codes such as CPT, ICD-10 CM, and HCPCS to the records of the patients. CPT stands for Current Procedural Terminology.
ICD-10 CM stands for International Classification of Diseases, Tenth Revision, Clinical Modification. HCPCS stands for Healthcare Common Procedure Coding System. This is to make sure that the services received by a patient have been reflected in the proper way in her or his record.
Following up with patients, insurers, and healthcare professionals
The medical billing consultants follow up with patients, insurers, and healthcare professionals. This is to make sure that the patients have received their claims. The medical coding professionals enter data by using software systems such as EHR and EMR. EHR stands for Electronic Health Record. EMR stands for Electronic Medical Record. These are normally used in offices of physicians and hospitals. Medical billing professionals manage invoices and account payments. The medical coding professionals examine operative reports that were used at the time of surgery. This is to apply the right procedural codes.
Investigating denied and rejected claims
The medical billing companies are also capable of looking into and investigating claims that have been rejected or denied. The medical coding companies perform audits of medical charts when claims are denied. The medical billing companies always make sure that the patients and the doctors get their money from the insurers. The medical coding companies stay updated with all the newest revisions of federal laws and coding standards. The medical billing companies also check how accurate the standard healthcare codes used by the medical coders are.
The people who work in medical coding companies examine histories and charts of patients to make sure the coding has been done accurately to reflect the medical care provided to the patient.
The benefit of medical billing services
So, as you would have guessed by now, the medical billing companies do perform an important function for sure. Most practices in this business know that combined with revenue cycle management medical billing services can be highly beneficial for them. It can reduce their expenses significantly. At the same time, it can increase their revenue as well.
The medical billing consultants in Viaante use technology such as electronic eligibility verification. They are capable of making sure that the claims are processed within a shorter time and this could lead to better cash flow as well. This means that companies now have more time to focus on their core work and thus become more efficient. Such professionals can also bring down your overhead costs because with them you need to hire fewer employees. Thanks to them you also do not have to get into negotiations with insurers and payers.
This is the reason Viaante is one of the most preferred medical billing companies in India.