Many individuals get involved in the medical field because they enjoy helping people. Unfortunately, this does not come without a cost. Whether you are working with an insurance company to get paid or you must turn to the patients themselves for payment, this can be one of the most disliked tasks in the medical field. Understanding the account receivable process in medical billing and how outsourcing can help goes a long way toward removing the stress from your own staff.
Medical Coding Comes First
First and foremost, every service you provide to patients must go through a coding process in order to tell the insurance company what services were performed and why. This is the information insurance companies use directly to determine whether an individual is eligible for coverage. However, this process must be handled delicately to ensure everything is properly coded. One minor mistake could cause a lot of headaches and a serious delay in payment.
Receiving the Money
Once everything is properly billed and submitted to the insurance company or directly to the patient, you will receive your money. If you’re outsourcing your account receivable process in medical billing, you may not have to deal with this part of the process. Instead, the company you outsource with will receive the money and take any necessary actions if the money is not paid. This can include contacting the insurance company for more information or sending the bill to collections if the patient failed to make the payments required. They will handle all of the money tracking, so you don’t have to stress out about it.
Are you looking for someone to help with your account receivable process in medical billing? Visit the GeBBS website to find out if their solution is right for you.