A full-service Medical Billing Service is a company that handles all aspects of the billing process, including coding and denial management. They have an expert staff of AAPC certified coders, accountants and other support personnel who perform all the steps of the billing process with precision to get maximum reimbursement for your practice or organization.
What are the two most common types of medical billing?
They convert rendered services into standardized codes and add them to medical claims, which they submit to insurance companies or other payers so that your practice is reimbursed for its work. This lessens your front-office staff’s workload and increases the revenue you receive from your patients.
Investing in a good medical billing system can help your front-office team stay organized and keep up with the latest medical coding updates, modifiers and subsets. This can help reduce the number of errors they make when generating and submitting claims.
Medical Billing Solutions
Choosing the right medical billing solution is important because it can help your practice improve its financial performance and increase cash flow. It also helps you avoid expensive bad debt and write-offs.
You want a solution that’s easy to use and integrates with your practice management system. Look for one that offers real-time reporting and a transparent window into the progress of your billers.
A good medical billing service should also have a rules engine that helps check your claims against common errors payers use to deny or reject them. These errors can be flagged and corrected before they become significant problems, helping to ensure your FPAR stays high.