Medical billing is a payment process for health care services in the United States health system. The process involves a healthcare provider submitting and appealing claims with health insurance companies so as to receive payment for the services he has rendered. These services include testing costs, treatment costs and costs for procedures. Certain codes are used for diagnostic procedures and treatment protocols to help the billing companies track the health records faster and easier.
The complexity of health care billing:
Visiting a doctor and taking treatment for a health condition seems to be a one on one interaction. But in reality, it is part of a large and complex system of payment and information. When an insured patient has one on one interaction with the doctor, the checkup is actually a part of the three party system.
While it’s true that we can use diagnosis and procedure codes to track the spread of disease or the effectiveness of a particular procedure, their main use in the United States is in the reimbursement process. In other words, codes help us bill accurately and efficiently. The first party is the patient, the second party the doctor and the third party the insurance company or the payer. It is the role of the medical biller to arrange for the payment between the parties. The Biller ensures that the insurance pay for the medical billing services is compensated by billing both the payers and the patients. To do this, the Biller collects all information about the patient and the procedures performed on him and compiles the bill to the insurance company.
Billing Cycle Management Solutions:
There are a number of this revenue cycle management services available for the health care providers to provide end to end billing services. Such services help medical practices to increase their collections by 12-20% at the shorter time frame and at reduced costs.
The vision I knowledge is one such renowned companies that help with insurance pay for medical billing and coding services for hospitals, group practices, and healthcare service providers. They implement billing cycle optimization process and also create economies of scale. Their state of the art delivery center in Gurgaon, India prepares the claim data for filing and follows up on all the claims round the clock.
Their advantages are their exceptional client service and cutting edge technology, that allows them to deliver innovative solutions to their clients at a reasonable cost. In Vision, bills are processed efficiently through specialized tools and facilities and by specially trained executives. They are able to free up hundreds of millions of cash flow annually by their management process.
Advantages of these billing cycle management solutions:
There are exceptional cost reductions by out-sourcing the services in comparison with off-shoring. They employ the finest of processes and knowledge in the insurance pay cycle along with proper customer service and resolution of customer queries. They help their partners to concentrate on patient care and pump in efficiency and productivity into their service.
Verdict:
Vision-I-Knowledge is a premier company specializing in medical billing, coding, electronic health records maintenance, transcription and insurance authorization services with exceptionally trained executives
