Medical Billing and Coding Companies play an important role in today’s medical practice operations. They are important because they keep down what could be a more entangled bureaucracy and help costs from running higher.
What these companies do is important because they help medical operations with a variety of issues, ranging from logistical and administrative to clinical and financial. They often bring in years of experience in each of those fields, experience that a doctor or medical practitioner would not necessarily have.
These experiences are also vital because by putting them in the service of doctors, the companies would free medical practitioners from having to hire and train their own dedicated staff to perform the required tasks.
Between providing the expertise and freeing up staff, medical business owners can save money because their Physician Billing and ambulatory surgery center billing expenses go down.
It is estimated that America’s estimated 318 million people made over a billion visits to physicians; that’s about three visits per every child, man, and woman, putting the country’s healthcare cost in 2014 at an astounding $4 trillion.
To understand what these companies do, you can picture the sequence of events when you go to a doctor. Such sessions would typically start by patients telling the doctor what they think is wrong with them. The doctor would then perform some, or series of, initial examinations to see if the causes of the discomfort or illness can be determined. The physician would then either prescribe some medicine, or refer the patient to a lab or a specialist for more advanced exams, or any combination of those.
The doctors and emergency centers then send their “notes” to these coding and billing companies to turn them into invoices for approval by insurance companies.