The healthcare industry is one of the fastest growing ones in the US. As a result, the need for allied health technicians and occupations is on the increase. With the legislative changes in medical insurance and managed care in the 1990s, it is necessary to maintain complex medical billing and diagnostic and treatment records for tracking insurance payments and the like. Medical billing and medical coding jobs are challenging career options that also allow you the freedom to work out of your home-based office. Your skills and initiative can get you well compensated.
What is Medical Billing?
Medical Billing is the practice of submitting claims to Insurance companies or the United States government, specifically Medicare in order to receive payment for services provided to a patient by a doctor. Although most doctors' offices request that payment be made at the time of service, every medical office needs to maintain patient financial accounts to follow up on the insurance claims and payments received.
Through medical billing service from home, you can provide electronic billing service for a wide variety of health professionals including medical doctors, chiropractors, physical therapists, optometrists and dentists. Many private health insurance companies have also started using work-at-home medical billing services because electronic billing is much more efficient than paper claim forms.
Proper medical billing is vital for processing insurance claims accurately. A medical billing service prepares claims using medical billing software, which is then sent to the appropriate medical insurance company to be evaluated and paid. Other tasks may include invoicing patients, following up on rejected claims and maintaining patient billing accounts.
How is Home based Medical Billing done ?
The super-bills are delivered to the medical biller for the medical billing job. Based on the information available in the bills, you need to enter the patient's demographics information, practice information, physician's information, diagnosis codes, procedure codes and insurance information into the medical billing software. After entering these details, you may have to submit it to the appropriate insurance company.
The job of the medical biller does not stop with coding and billing. The medical biller tracks the claim until it is paid and collects the receipt (known as Remittance Advice) sent from the insurance company to the physician's office that verifies the transaction. The bill states the details of transaction including what was paid, what the patient owes and how much is to be written off, if at all.
These transaction details need to be updated into the software to balance the doctor and patient's accounts. The invoice will need to be mailed to the patient. In case if claims are denied, you may need to investigate the reasons with the insurance company.
Work at Home Medical Billing Services - Requisites
To be able to work on medical billing from home, you will need adequate training. Medical billing services follow certain codes and terminologies. You need to understand them before starting a home based medical billing service. Though you don't require any certificate to get a project, it is always better to train yourself.
Training courses can be found online too. You can consider a certification program offered by American Medical Billing Association (AMBA). After getting trained, you can contact the medical professional's offices directly to make them aware of your services. Though there are many message boards and online forums to post your services, direct contact is usually the best way.
Home Medical Billing Remuneration
Work from home medical billing requires a personal computer with medical billing software. The software can cost anywhere from $500 to $10,000 based on its utilities and features. A medical billing service can fetch you an annual income ranging from $20,000 and $50,000 if you are working with six doctor's offices.
Medical coding is used by the medical profession to ensure smooth and proper financial reimbursement of payments from insurance companies or concerned government agencies. It is essential for those working on medical billing to be conversant with the numerical medical codes. Medical coding also plays an important role in the proper preparation and maintenance of reports that track diseases and ailments and other health conditions.
Capturing medical data accurately and in a timely manner is vital to quality healthcare facilities. A record of a patient includes symptoms and medical history, the results of examinations, reports of X rays and laboratory tests, diagnoses, and treatment plans.
Codes are assigned to each diagnosis and procedure. The role of medical coding is also useful in administrative and research activities, surveys and legal actions as well as in controlling costs and improving patient care.
If you are considering medical coding jobs from home, it is essential to get a coding certification. The legal ramifications of incorrect billing and coding can be substantial. There are technical school diplomas or correspondence courses or even online courses that train coders for professional certification. A medical coder can work independently from home - you can even become a consultant to help patients understand their insurance bills and their complexities.