The medical billing services industry is one of the fastest-growing segments of healthcare. According to Grand View Research, medical billing revenues will reach nearly $19.7 billion globally by 2026. With patient visits still about a third lower than pre-pandemic levels and a backlog of appointments, many clinics and physician offices are turning to medical billing companies to ensure revenue cycle efficiency. URL : https://emedpartners.com/services/
What is a billing company?
A medical biller interprets a patient’s health insurance plan(s) to determine coverage for procedures and services rendered. After eligibility verification, the medical biller uses the procedure and diagnosis codes presented by medical coders to create a claim that can be submitted to the payer for reimbursement. Medical billers also issue Explanations of Benefits (EOBs) to patients that clearly explain which procedures are covered and why, as well as follow up with those who have outstanding balances.
As part of a streamlined medical billing process, a superior medical billing partner will scrub claims before they’re sent off to the payer. This allows for a higher percentage of first-pass acceptance, which means more accurate claims processing and quicker payments.
Make sure the medical billing company you choose has certified professional coders on staff. Having a dedicated team of coding experts helps to improve compliance performance, reduce denials and re-submissions and decrease the amount of time spent on denial management. Medical coding experts should also be able to provide valuable feedback and training to your own medical coding staff, helping them to improve documentation and coding processes in-house.