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These integral processes ensure healthcare providers are appropriately compensated for the services they deliver, playing a critical role in the financial health and operational efficiency of any healthcare organization.
Medical billing is the process of submitting and following up on claims with insurance companies to receive payment for services rendered by healthcare providers.
Collecting patient information, insurance details, and verifying coverage before services are rendered.
Inputting charges for services provided into billing software based on coded data.
Preparing claims and submitting them to insurance payers electronically or manually.
Recording payments received from insurance companies or patients.
Generating statements for any remaining balance after insurance processing.
Ensuring timely payment through follow-ups with payers or patients and managing overdue accounts.