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Medical Billing is the Fastest Growing Opportunity in Health Care

by: Jay B Stockman

On February 16, 2006 the Health Insurance Portability and Accountability Act was finalized, and enacted. This law is designed to establish national standards for all health care transactions, and to ensure the security and privacy of all health related information. The motivation behind this law is to improve the performance, and efficiency of our health care system. This type of reform has created a need for qualified individuals who can utilize the tools of this legislation, and assure full compliance, and maximum reimbursement. It would therefore be a prudent move for health care facilities to employ such individuals in order to avoid mistakes that could have dire consequences.

The proliferation of medical knowledge following World War II brought about an explosion of diagnostic, and treatment procedures. As a result, there became a need to organize, and standardize all these developing technologies. Here is where the foundations of medical coding were born. Medical coding met these challenges, and allowed for a more uniform way of communicating health information under a common language. By January 1979, standardized definitions, and codes were adopted, and used by health care providers, and insurance companies. Since improvements and refinements of medical procedures are constantly being developed, codes must be added and updated to reflect these changes. Today, the number of medical and surgical procedures have become enormous, so too have the codes to describe them. These overwhelming numbers of codes and protocols have made outsourcing medical billing the standard.

Medical Billing and related occupations continue to be the fastest growing opportunities in health care. Insurance institutions and government agencies are investing huge resources to control claims� fraud, abuse, and establish some degree of reimbursement parity. As a result, more insurance companies, and health care facilities are looking

Today, evolutions in the health care industry are happening at a very high pace. It is only with the assistance of sophisticated computer programs, and standardized coding procedures that medical coders are now able to describe and characterize the tremendous number and various kinds of medical and surgical procedures.

to medical billing experts for help. These companies and practices are looking for experienced and educated individuals; the legal consequences of incorrect billing could be devastating. There is a movement in the industry to make medical billers responsible for inaccuracies, much they way accountants are for tax returns.

At present, there are no standards for educational requirements for medical billers and coders. However, more employers are looking for some formal training at an accredited career training institution. These schools range in training time from nine months to two years, anything less would not be considered adequate. There is a move for certification, and several organizations are sponsoring certification examinations in medical billing and coding. Medical billers and coders earn as much as $8 to $10 per hour in the beginning, and could potentially realize $30 to $40 per hours with experience and additional responsibilities.

Today, evolutions in the health care industry are happening at a very high pace. It is only with the assistance of sophisticated computer programs, and standardized coding procedures that medical coders are now able to describe and characterize the tremendous number and various kinds of medical and surgical procedures. These realities coupled with government regulations, and health insurance guidelines have contributed to the strong demand for experienced medical coders and billers.

About the Author

Jay B Stockman is a contributing editor for Medical Billing Resource. Visit http://all-medical-billing-software.com/ for more information.

Dr. Jay B Stockman is an individual contributor to Google Health Co-op

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Medical Billing Articles (updated Frequently)

Top 10 Medical Billing questions answered.

By: Allan Smith.D.

1--What is Medical Billing?

Medical Billing is the process of submitting and following up on claims to insurance companies in order to receive payments for medical services rendered by a health care provider.

2--What is the Medical Billing Process?

The Medical Billing process is an interaction between the healthcare provider and the Insurance Company. After examining the patient, the doctor maintains a medical record. This Record includes the patients' symptoms, clinical findings, and diagnosis and treatment details. Following these details a medical coder or a billing specialist provides a medical code for this record. This billing code is then submitted to the Insurance Company. The Insurance Company then proceeds with the claim.

3-- What about the Payment?

Based on the amount negotiated by the doctor and the insurance company, the original charge is reduced.

4--What about the Billing Quality?

Billing Quality is measured in terms of timeliness and completeness of payment. The shape of the distribution curve of Accounts Receivable illustrates billing quality. For several decades, medical billing was done almost entirely on paper. However, with the advent of computers it has become possible to efficiently manage large amounts of claims. Many software companies have arisen to provide medical billing software to this particularly lucrative segment of the market.

5--What are the Medical Billing mistakes you should avoid?

Physicians believing that their billing professional care a lot and will not be doing any mistakes is at the head of the list.Take a copy of patients Insurance card. Also a second ID. Secure sign advanced Beneficiary notice when indicated.

6--Tell about medical billing software?

As we know the tens of troubles medical professionals face keeping files, data and reports sorted and made available whenever needed. Medical Billing helps to organize these details and consolidate your all offices together.

7--Can I use medical Billing software from our home?

Yes. All you need is a computer with a broadband Internet connection.

8--Is billing Software easy to use?

Yes. The biggest benefit is that you don't have to go through multiple databases.

9--What about the security features?

Medical Billing is protected through HIPPA- servers, which gives access to members that mean you and you only.

10--What about the cost?

Medical Billing Software is not very costly though. Also there is no long-term commitment for the software use.

About the author:

Allan Smith.D. is a medical Billing specialist and shares his knowledge at www.medical-billing-resource.com Visit our sister sites www.accounting-software-info.com www.conference-calls-information.com

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