Bariatric Medical Billing Norfolk: Importance Of Medical Billing
Medical coding and billing are critical components for Bariatric Medical Billing Norfolk companies. Accuracy in both of these areas is critical to patient safety, rapid payment and efficient operations. Here is a look at the importance of medical billing:
Patient care – Medical coding takes information about diagnoses, treatments, procedures, medications, and equipment and translates them into alphanumeric codes. Medical coding professionals transfer these codes from the sources to medical billing systems and patient records. Coding is an important step required to submit medical claims with insurers and bills for insurers and patients.
Regulatory and contractual compliance – Health Insurance Portability and Accountability Act protects patient confidentiality, requiring any medical practice or hospital to take safeguards to protect confidential patient information. HIPAA guidelines also cover electronic medical records and the International Classification of Diseases (ICD-10) uniform diagnostic codes issued by the World Health Organization (WHO).
Ensuring payment flow – Medical billers have to understand different medical regulations and private and public insurance plan policies. They need specialized knowledge of claim follow-up, claim denial resolution, posting payments and bill adjustments, appeal submissions, and collections management. Efficient management of these components ensures improved revenue flow throughout the practice.
ProMD Practice Management was founded in 2004 by a team of physicians and health services administration professionals who had directed the expansion of South Florida Perinatal Medicine into one of the foremost maternal fetal medical practices in the state.