What Is Medical Billing?
So you’ve heard the term “Medical Billing”, and you know that people are able to earn a good income doing it, but you’re not exactly sure what it is. Although it can be a very broad term, here’s what it is in its simplest form:
Medical Billing – Medical Billing is the process of submitting and tracking medical insurance claims to insurance companies for services provided by medical service providers such as doctors, therapists, chiropractors, etc.
Let’s look at a simple scenario to see how the process might work.
Let’s say, a person has to go to the Doctor, because they have a sinus infection. They first need to find a Doctor who accepts their insurance, they get to the office, check in with the receptionist, they present their insurance card, the Doctor sees them, and they check out by giving the receptionist their insurance co-pay.
So far, the Doctor has only received a small portion of the fee for his/her service. It is now up to the Doctor to send a claim to the patient’s specific insurance company, to try to collect the other portion of the fee that was covered by the insurance company. This is an extra step the Doctor has to take, if they want to get paid all of the money that they actually earned.
Because the Doctor is busy seeing patients all day, and because they would rather be practicing medicine than doing paperwork, they now have to find someone who is capable of overseeing this billing process for them. This usually consists of hiring additional employees that can work specifically on this process and starting a whole new billing dept. in their office, or in many cases the Doctor would rather not have to deal with this part of their business, so they hire a billing service to take care of it for them.
This billing process is not just for individual Doctors, but every hospital, clinic, laboratory, therapist, specialist, treatment center… and everyone who accepts insurance.
So, you could sum up Medical Billing as – the process of collecting payments from the insurance company for the Doctor or Service Provider.
If you wanted to work in the Medical Billing field, you could become an employee and work in a Doctor or Service Provider’s office, or for a for a billing service. You also have the more profitable option of starting your own Medical Billing Business.
Here Are Some Great Resources to Get You Started…
Special Discount Package!
Take Medical Billing Courses Online – at your own pace, & in the comfort of your own home!
Other Great Resources!