Medical billing insurance is being touted as one of the fastest growing healthcare occupations in the United States today. As such, none of us really strangers to the term. However, there are still important aspects of medical billing insurance that we have yet to understand completely and doing so now might help us deal with our own billing and accounting woes, whether we are patients or doctors or insurance agents.
Below are some frequently asked questions about medical billing and the answers to them. Feel free to scroll down and find out more information about the lucrative career opportunity that is medical billing insurance.
What normally does medical billing entail?
Medical billing insurance is quite a broad concept. The term "medical billing insurance" encompasses, for the most part, all billing and accounts receivable management functions of a given health care provision concern.
There are actually numerous possibilities for you and your staff to handle the billing and accounts receivable of your practice. For one, you can have a third party company specializing in medical billing insurance to remotely access all your bill and statement generation functions only, leaving the accounts receivable management to the care of your own staff. Two, you can have everything done in-house and just hire a regular medical billing specialist to handle all billing and accounts receivable department right off the system already existing and established in your medical office.
Whatever arrangements are made and whatever system or systems you wind up using, the training and the need for medical billing insurance remain the same.
Is it a viable home-based business?
In a word, absolutely. The number of home-based medical billing companies are quite remarkable. However, contrary to what you might have heard or read about it, it is not that easy nor that quick to achieve some measure of success in work at home medical billing insurance. The FTC and the Better Business Bureau have issued an advisory against work at home medical billing insurance scams that seek only to cheat you out of your money. As much as possible, avoid ads that claim to make you rich overnight because medical billing insurance, no matter how lucrative a career, is not that lucrative as to make you rich overnight.
What is the difference between electronic claims submissions and billing?
Now this is a question that needs answering. Most people make the mistake of equating electronic claims submission with medical billing when in fact the two are distinct and wholly different. Medical billing insurance refers to billing and accounts receivable management whereas electronic claims submissions refer only to submitting electronic claims already produced by a biller to an insurance company or a clearinghouse.