Medical billing companies are third-party organizations that specialize in processing healthcare claims and managing the revenue cycle for healthcare providers. Here are some of the tasks that medical billing companies typically handle:
Insurance verification: Medical billing companies verify patients' insurance coverage and benefits to determine what services are covered and what the patient's financial responsibility will be.
Claims submission: Medical billing companies submit claims to insurance companies on behalf of healthcare providers. They ensure that claims are accurate and complete, and that they include all necessary documentation.
Payment posting: Medical billing companies post payments from insurance companies and patients to the healthcare provider's accounts receivable system.
Denial management: Medical billing companies identify and resolve denied claims, including appealing claims that have been incorrectly denied.
Patient billing: Medical billing companies send out patient statements and follow up on outstanding balances.
Reporting: Medical billing companies provide reports to healthcare providers on the status of their revenue cycle, including key performance indicators such as days in accounts receivable and collection rates.
By outsourcing these tasks to a medical billing company, healthcare providers can focus on providing quality patient care while ensuring that their revenue cycle is being managed efficiently and effectively.
MedicusCode can bring highly experienced off shore staff to help with all your billing needs. We are adding additional capabilities to the team to bring in Medical Coders as well for certain specialties. Reach out to us if you have any questions.
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