An Overview of Medical Billing and Coding Services

An Overview of Medical Billing and Coding Services

Medical billing and coding are two aspects of the reimbursement cycle. It involves transcribing a patient’s diagnosis, medical tests, treatments, and clinical documentation into codes like CPT and ICD-10 for claim submission to insurance companies. 

Various government organizations like the Centers for Medicare and Medicaid Services (CMS) and CDC’s National Center for Health Statistics (NCHS) govern these processes to ensure smooth operations. Examination of intricate code sets and the processing of claims is done to ensure HIPAA compliance for the rendered services.

P3Care provides the best medical billing services by employing AAPC-certified professional coders to ensure the financial health of your practice. With years of experience, our team ensures every aspect of medical billing and coding with their proficiency in different code sets. These code sets can be

  • Current Procedural Terminology (CPT) 
  • International Classification of Diseases (ICD-10),
  • Healthcare Common Procedure Coding System (HCPCS)
  • Healthcare Effectiveness Data and Information Set (HEDIS)
  • Office of Inspector General (OIG) guidelines

These code sets help physicians navigate through the complex billing system.

Understanding the functionality: Role of medical billers and coders

Successful medical practices, nowadays, use IT to boost their revenue collection. According to Equifax, poor billing practices like manual processing cause doctors in the US to lose an estimated $125 billion each year. Here, medical billers and coders play an important role in improving the health of financial systems. 

Medical coders use standardized code sets to give clean electronic health records (EHRs) to process claims and eventually streamline the reimbursement cycle. Similarly, medical billers ensure clinicians receive timely payments with an automated billing process. Collectively, medical billers and coders enhance the patient experience and boost the clinician’s revenue cycle.

Example:

With a practical demonstration, the role of medical billers and coders can also be explained.

For instance, a patient walks into a doctor’s clinic with severe pain in the abdomen. The nurse will ask about the patient’s symptoms, conduct initial tests, and send him/her to the doctor. He will be further examined by the doctor who will diagnose the disease, and prescribe medication for treatment. 

This process is recorded with every minute detail by someone in the practitioner’s clinic or by the physician. Afterward, the medical coder’s job is to translate these details into CPT or ICD codes to make the billing process errorless for the medical biller who looks after timely payments.

Benefits of P3Care’s medical billing and coding services

P3Care provides solutions that are helpful to clinicians. The following are the benefits of medical billing and coding services:

Rapid Documentation

Regardless of the size of your practice, our experienced team can provide a speedy signup process involving complete documentation of patients. 

Improved Revenue

It will reduce your days in accounts receivable management (AR) by reducing the claim denials ratio and boosting revenue.

Fast Submissions

With an advanced medical billing and coding system, quick submissions of medical claims will be ensured for timely reimbursements and increased cash flow. It will be coupled with regular follow-ups on the claims after submission.

Exceptional Customer Services

With an expedited revenue cycle, our experienced team ensures the effective management of billing requirements as per HIPAA compliance standards and technological demands. Any further queries about the billing process will also be catered to satisfy the problems of concerned individuals.

Why P3Care?

P3Care provides its Health Information Technology (HIT) consultancy services across 50 states of the USA to secure the health of your revenue cycle. Due to lackluster processes, there is an increase in the need for advanced medical billing and coding services. According to GlobeNewswire, the global outsourcing market of medical billing is expected to grow from $13.56 billion to $20.98 billion in 2026. 

It reflects that the healthcare industry is revolutionizing by incorporating RPA services into their medical practices. So, wait no further to keep your revenue cycle hinged between delayed or refused billing payments, and maximize the revenue collection with effective medical billing and coding services.

Conclusion

To summarize, P3Care provides effective medical billing and coding services to revamp your practice’s revenue cycle. With 9 years of experience as HIT consultant, our AAPC-certified professional coders follow the required guidelines to help boost billing payments and save overhead costs and time.

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