What is Medical Billing

Medical Billing

What is it?
Medical Billing is the process of submitting and following up on medical claims to health insurance companies and patients in order to receive the payment for services rendered by a healthcare provider.

Medical claims: These are statements that list services and their fees, as determined by a provider.
Insurance companies: Medical claim payers that cover the cost of medical services in return for fees and costs.
Medical provider: A medical provider is a medical professional, or a facility, that provides medical services.

How is it done?
•In-house billing
Doctor or his staff prepares medical claims.
If not done right, it can cost a doctor his/her medical practice.
•Out-sourced billing
An outside organization prepares medical claims on the doctor’s behalf.
Cash flow is much better when proper billing is performed.

What is the MTBC billing process?
•Patient visits the provider
New patients fill out medical history and registration forms prior to receiving medical services
•Provider gives his/her diagnosis and provides appropriate medical services
•Provider sends in the information, relating to the patient’s visit, to MTBC
•MTBC generates claims to be filed, manually or electronically, with insurance companies
•Claim is follow up to maximize payments
•Payment summaries are provided to providers.

If you are a physician and still looking forward to a best Medical Billing company, then try www.mtbc.com. It has everything you are looking for.

Thanks to Bilal, who gave me a chance to write here

John Bret