Medical billing and coding tend to go hand-in-hand when dealing with medical insurers, patients, and legal and regulatory requirements within healthcare businesses. Although separate processes, both billing and coding are integral to securing payments from healthcare services to providers and insurers.
Medical coding concerns translating healthcare information about a patient’s condition, diagnosis, prescriptions, and other equipment or services used into a universal code. According to international coding standards, the regulations are specified and are taken from any medical record, such as physician notes, testing, and examinations. If used correctly, they can effectively inform and allow for appropriate medical billing procedures.
On the other hand, medical billing ensures that insurers reimburse patients or healthcare facilities with the correct amount. Medical billers are responsible for ensuring that legal standards are fulfilled and that claims are free from errors. Medical billers also have the task of following up on denied claims, as well as unpaid claims.
Some healthcare business platforms, such as Carepatron, provide processes that enable simple medical billing and coding for healthcare professionals. However, regardless of your decision to automate, knowing medical billing and coding could prove immeasurable for your practice.