Can You Keep Your Medi-Cal And Have A Part-Time Job Medical Billing – What’s All The Hype About?

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Medical Billing – What’s All The Hype About?

We see so many ads for medical billing. Earn lots of money! Work from home! No experience necessary! Advertisements say that anyone can make big money with medical billing, but is that really true?

Medical insurance billing has gotten a lot more complicated in recent years. While a doctor needs to be paid well for his services, insurance billing is a very large part of his practice.

There is a lot more to medical billing than filing a claim with an insurance company and sitting around waiting for payment. Every company has its own rules and to get paid we have to know and follow them. How do you learn about these rules and where do you go for medical billing information?

As it has become so complicated, it has become increasingly difficult to find employees who can handle this time-consuming job. A doctor’s office is a busy place, and her employee may not have a half-hour wait waiting while reviewing a complaint for a customer service representative to tell her the complaint is “not on file.”

Since their income and ultimately the success of their practice depend largely on billing them effectively, physicians have found it increasingly cost-effective to outsource medical billing to professionals who can focus solely on its billing. If the billing service is paid based on their results, the doctor is more likely to maximize his or her credits.

The medical billing service will focus their efforts on paying for each request when the service is paid for by results, whereas a billing clerk in the office on a busy day is more likely to say “Forget it. This request is not worth another phone call!!” Unfortunately in most offices this statement will be written off and your doctor will never know.

There is so much going on with billing that most people, including doctors, don’t even realize it. Claims must be submitted correctly and timely on the correct forms.

If requests are submitted electronically, the reports must be read and considered. When payments are received, they should be reviewed to ensure they have been processed correctly and then posted.

If there is a patient liability after payment, a patient statement must be submitted. If your request is denied or not paid properly, it needs to be handled and dealt with quickly. If the decline or incorrect payment is not resolved immediately, you may not be able to correct it.

Some companies only allow a certain amount of time to request a cancellation. Aging reports should be done regularly to make sure nothing else is escaping the cracks. Most offices lose thousands of dollars a year to claims that slip through the cracks; processed/denied incorrectly or not processed at all. If you’re not processing your aging reports, you’re losing money!

But medical billing services aren’t getting as rich as the ads portray. There is no simple, easy way to do medical billing that your doctor’s office doesn’t know about.

There is still a lot of work to be done in filing medical claims and getting them paid. Don’t expect that you can start this business without a background or education. There is a lot of medical billing information you need to know in order to run a billing business successfully.

Medical billing is not a get-rich-quick scheme. If you are considering starting such a business, you should have a great interest in the field and a willingness to learn much more.

As with any other business you would consider starting, do your homework. Do field research, read up on as much medical billing information as you can, and make sure you know what you’re getting into. After all, it takes more than a computer and a kitchen table to do a good job and run a successful business. Make sure you understand what will be required of you.

There is a lot of medical billing information out there. Make sure the information you get comes from a reliable source. With a growing field like this, unfortunately there are also many scam artists trying to sell you worthless information.

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