A job in the medical field is one of the most stressful and involved professions that anyone can take on. Not only does it require extensive education and practicum- it’s one of the few jobs where a mistake could cost someone their life. The pressure that comes with that type of responsibility creates a doctor or a nurse that must be both confident and observant. Anyone who’s dedicated their lives to making the lives of others better through healthcare, has to have a real passion for their profession. Even general practitioners who have a steady stream of regular patients for non-emergency appointments need to be free to focus on their craft. This is why issues with billing can’t be allowed to distract them or add to their work load.
Medical billing is a far cry from simply sending out an invoice based on services rendered. Healthcare has a complex set of rules and regulations that involve the transition from services to the final amount owed by the patient themselves. Coming up with the final amount owed involves a trip through medical coding, followed by negotiations with the insurance provider- then maybe back to coding- back to insurance, and finally the bill can get to the patient. Whether a doctor has their own private practice or works for a larger entity, they definitely aren’t going to have time to oversee the billing process. It’s not possible to just populate a billing department with standard secretarial staff either.
Insurance companies require the services to be translated into a special kind of medical shorthand called code. This code will replace every single procedure, medication, and product used during the treatment of the patient. Trying to list all of those things in longhand would create way too much information for anyone to accurately wade through. Part of any business is profit. Profit requires a speedy and accurate billing process. Hiring a specialized billing department and stocking it with the latest technology and training personnel can be incredibly expensive. This is why many doctors hire a physician’s billing service.
A physician’s billing service essentially allows the doctor or medical provider to outsource their medical billing needs to a third party who specializes in the types of services that they offer. This can be incredibly important when dealing with a specialist. With specialized healthcare professionals, the medical landscape is constantly changing. There are new medications and treatments being introduced and a regular billing department can’t always keep up with the changes. If they use the wrong code or have to wait on an updated code for the new treatment, then it can delay billing indefinitely.
Any delay in billing equates to a delay in getting paid, and this is stressful for both the patient and the doctor. Incorrect coding and billing can also cause huge issues. If the patient pays the bill prior to noticing the error or even catches it before paying- it can damage the trust of that patient.
Trust is one of the most important things in the field of medicine.
Emergency medicine benefits from a billing service simply because of the huge volume of different patients that they see every day. Trying to keep track of everyone who comes in, as well as their insurance, and personal information can be daunting. The medical billing service has nothing to focus on but that information. There are no distractions or other duties, and they can allow the emergency room or urgent care facility to turn their attention entirely to the job at hand. Their services can also be used for large groups of doctors working together. Regardless of the type of medical practice you’re in, a physician’s billing service can help to improve every aspect of the process.