Medical coding is the translation of health records into a single, universal system of coding. The coding system is a vast system of codes that put a number to everything from health equipment to medical diagnostics. These codes are a uniform way to submit insurance claims, and the submission of insurance claims has often been a problem.
For a long while, it was more common for insurance claims to be submitted incorrectly or late than correctly and on time, and submitting insurance claims wrong or late, means that they have to be returned to you, and you have to resubmit them, hopefully correctly, before you can get your reimbursement.
Coding for a physicians practice is a very extensive system, with over 75,000 codes. Without a specialized medical coder to take on the task, it can become very difficult to maintain and manage, and can be easily messed up.
It is common for health practices to outsource their coding and billing to a medical billing and coding company. In doing this, they alleviate the stress and cost of managing their medical billing and coding for themselves, and getting the specialized services of a coder.
In outsourcing medical billing and coding, health practices can save money on staffing full-time medical coders, and instead pay only monthly percentages to a medical billing company for their services.
Medical coding can be done at home as well as by a company, but it is suggested that in order to do medical coding, you have earned a CPC certification in a medical coding course. Medical coding courses teach on medical terminology, anatomy, and physiology. These things are pertinent for doing medical coding, as all of these things need to be understood in order for them to be dealt with and encompassed by the proper coding.
Learning how to do this properly is tedious, and time-consuming, but vital to the medical world. Medical coding uses medical terminology so that it is understandable by anyone who has knowledge of medical coding, and this makes it easier for insurance companies to better process the claims submitted to them more quickly and efficiently, and this means medical practices get their reimbursements back sooner for their services rendered to each individual patient.
It is exceedingly more likely for a medical practice to get their money back sooner if they use a billing and input service than if they took on the task in office, so having a medical billing service not only can save you money in the long run, but it can get you the money that is already yours sooner.
Medical billing and coding is extremely extensive and a very specialized field, and taking on this task and coding oneself without the proper education can be a huge task, but medical billing and coding is important and unavoidable, so finding a medical billing service can be exactly what your medical practice may need in order to maintain your financials and focus on the more important aspect of your company: your patients.