Understanding Medical Billing & Coding
In order to get paid for services given, medical billing entails filing and monitoring claims with insurance companies. It guarantees prompt and accurate reimbursement to providers.
Converting medical diagnoses, procedures, and treatments into standardized codes (such ICD-10, CPT, and HCPCS) is known as medical coding. Medical recordkeeping, insurance processing, and claim filing all depend on these codes.
Importance of Medical Billing & Coding
✔ Guarantees Accurate Reimbursements: Correct billing and coding avoid underpayments and rejections.
✔ Enhances Cash Flow: Timely claim filings minimize payment delays.
✔ Assures Regulatory Compliance: Providers may steer clear of audits and fines by using accurate coding.
✔ Lowers Errors & Claim Rejections: Coding errors and claim denials are reduced when proper documentation is in place.
✔ Improves Patient Satisfaction: Patients have more seamless billing experiences when claims are processed more quickly.
Our Medical Billing & Coding Services at PSP
In order to satisfy the demands of healthcare professionals, Physicians Success Partners (PSP) provides complete medical billing and coding services. Our services include:
Ensuring accurate diagnosis and procedure coding in accordance with industry standards is known as ICD-10 & CPT Coding Compliance.
Managing the whole claim processing process to ensure quicker reimbursements is known as claims submission and follow-up.
Finding mistakes, contesting rejected claims, and resubmitting them for approval are all part of denial management and appeals.
Simplifying billing procedures to increase revenue collection is known as revenue cycle optimization.
Conducting audits to verify adherence to insurance laws and coding standards is known as billing compliance auditing.
Helping patients with billing questions and payment procedures is known as patient billing and support.