Based on the research, Medical Billing and Coding Specialists work in one of the fastest-growing occupations in America. Usually, every medical facility will need someone to do the medical billing and medical coding for insurance and patient invoices. By the way, what is a Medical Biller and Coder? Well, let us discuss information about that here.
Definition of Medical Coding and Billing Specialist
A medical biller and coder acts as a liaison between the medical office and the companies of insurance. It means that a Medical coding and billing specialist assists the healthcare facility manage insurance claims, payments and invoices.
Here are the day-to-day work of a medical coding and billing specialist:
- Coding services, diagnoses, procedures, and treatments properly.
- Preparing and sending the invoices or claims for payment.
- Correcting the claims which are rejected.
- Tracking the payments.
- Following up with the patients and insurance companies regarding outstanding bills.
Frequently, these workers work in the same healthcare facility where the patients go for treatment, this is mainly an office job as opposed to patient-facing clinical work. A medical coding and billing specialist is going to spend a wide amount of time at the computer, reviewing, entering, and then updating information.
The Difference Between Medical Billing and Coding
Frequently, job descriptions combine billing and coding within a single position. But, they are technically two different job functions, each with its own responsibilities and the tasks. Lots of medical offices are going to hire the same person to do both jobs, even though larger facilities will be able to divide the work into two separate positions. Thus, it is very crucial to understand the difference between the two roles or you can read here
About The Medical Coder
Medical coding takes a provider’s diagnostic and procedural notes and then converts them into the correct codes for record-tracking and billing purposes. Need to know that the codes are alphanumeric combinations. It used to signify the services being provided and billed. This is going to require knowledge of the different codes used:
- Current Procedural Terminology (CPT)
These codes are utilized to identify specific procedures and examinations performed.
- International Classification of Diseases (ICD-10)
These classification codes are utilized for medical diagnoses.
- Healthcare Common Procedure Coding System (HCPCS)
The system includes codes not covered in the previous two sets, such as the codes for specific medical devices or supplies and non-physician services.
Each of those codes is utilized in insurance billing. The coders have to follow specific guidelines for appropriate use and placement in the billing software. The codes may be entered as soon as the patient creates an appointment. There are going to be the codes for the type of visit and the symptoms reported by the patient. Further codes are going to be applied for the symptoms observed by medical staff, the tests and procedures performed, diagnoses, and also treatments recommended.
About The Medical Biller
After medical coding is completed, the medical billers will generate invoices and then send the claims to patients’ insurance providers. Based on those codes, insurance companies are going to approve or deny the requests for payment. Any remaining amount not covered by insurance will be sent to the patient for payment. Usually, the medical billing process will start as soon as the patient creates an appointment with the medical office because the codes are able to be submitted to an insurer for pre-approval. This will help determine what the patient’s out-of-pocket expenses will be, so the office will be able to charge the patient for that amount at the time of the visit.
A medical billing specialist needs to understand the industry codes, even if someone else does the coding, because a medical billing specialist must review the reasons behind any denied insurance claims and be responsible to update the codes before submitting the claims. Also, they are going to verify the codes are entered properly before submitting the initial claim.
After the insurance billing is settled, then the remaining balance is going to be invoiced to the patient. Also, this process falls to the medical billing specialist. Aside from that, medical billers determine copay requirements, track payments, and follow up on outstanding payments from insurance companies and the patients. If a bill goes unpaid, so the medical biller must contact the insurance companies and ensure all the paperwork is in order. If a patient does not enter payment for an outstanding bill within a specified timeframe and also does not respond to further requests, then the billing specialist must turn the debt over to a collection agency.
Combining Medical Billing and Coding
Due to the fact that medical billing and coding processes are very related to, lots of medical offices hire medical billing and coding specialists with the training to do both roles. While several bigger facilities are going to hire separate teams to take care of the billing and coding. Those individuals usually work very closely together to make sure the process is done properly. The most crucial aspect is avoiding billing and coding errors so the payments are collected in a timely manner.
Who is a Good Fit for a Medical Coding and Medical Billing Career?
Need to know that a medical billing and coding specialist needs good organizational skills. If you are a professional who can manage time well and adeptly handle many projects, a job in medical billing and coding can be a good fit for you.
Also, the candidates should be comfortable in an office setting, because the job needs a lot of time in front of a computer and working with the patient files. It is crucial to have a good grasp of medical terminology. Aside from that, the workers in this field also need to stay up to date with changes in procedures and coding guidelines so that an interest in continued learning is a good quality for this role. If you are interested in these jobs, then training for a medical billing and coding specialist may be a good career option for you.