Healthcare revenue runs on invisible workers doing Medical billing and Coding. Financial success of any physician or private practice is totally dependent on efficiency of their billing and coding department. Data collected by billing and coding fraternity is not only useful for financial reimbursement but also for analysis of disease prevalence and healthcare service utilization.
Medical billing and coding is multi-faceted process which require knowledge of Medical Terminology, Anatomy, Physiology, methods of coding for disease and procedure, various types of insurances and their procedural requirements, accounting, communication techniques.
- Medical billing is the process of submitting and following up on claims with health insurance companies in order to receive reimbursement/payment for services rendered by a Physician.
- Medical Coding is an assignment of various disease condition (Diagnosis) and procedures carried out as part of treatment by Physicians or Healthcare Provider in the form of stipulated codes. To learn this technique it is necessary to understand Medical Terminology , convention and rules of codebooks like ICD -10- CM, CPT, HCPCS.
- The same process is used for most insurance companies, whether they are private companies or government sponsored programs like Medicaid, Medicare, Tricare, CHAMPVA.
- Authenticated vocational schools like Param Institute of Education in Iseline, New Jersey, USA is intended to provide theoretical and practical grounding for students entering the medical billing & coding field.