Medical Billing is defined as the act of submitting and following up on claims to health insurance companies and thus ultimately receiving payment for services provided physicians and hospitals.
Medical billing is a complex series of procedure that needs to be done by skilled professionals known as Medical Billers. Medical billing can be performed by anyone and such professionals are encouraged to become certified by taking exam like CMRS Exam, RHIA Exam, and many others. Hospitals usually maintain your medical record and when you submit your insurance information, the medical billing cycle begins. Each and every procedure and service is assigned an alphanumeric medical code on the basis of standardized system. This bill is now sent to the insurance company for approval through electronic means or through fax or standard mail.
On approval of the allowed amount of a medical bill by insurance company, the insurance company will send the payment to the physician. Now physician can send the bill of remaining balance, if any, to the patient. Today, medical billing job is in high demand in several healthcare organizations, hospitals and medical practices. In larges hospitals often an entire department is dedicated for the purpose of medical billing.