Medical Billing Service for Health Care Cost

The health care costs are getting so higher now that keep people prone to skip physician visits. It’s not fear of doctors but the medical billing phobia that follows. The out-of-network fees and the higher deductibles are some of the costs that burn the consumers’ pockets.

U.S. health care expenses keep growing and hit more than $10,000 yearly for an individual. Following a recent survey during the last year, 44% of Americans don’t visit doctors for higher financial concerns even if they need medical care. Even, 40% of people claim that they skip suggested diagnostic tests only for the higher cost.

But, the real truth is that skipping doctor’s visits or healing to avoid high medical billing can have a counterproductive effect. The most significant consequences of bouncing or holding up medical care are to bring severe impacts on the quality of life and bigger health care cost.

However, the survey, carried out by the University of Chicago and the West Health Institute, ascertained that Americans fear hefty medical billing more than their serious illness. The records showed that 33% of those surveys were “extremely scared” or “very afraid” of getting seriously ill. About 40% said that paying for health care is more alarming than the ill-health itself.

Part of the problem is that healthcare is becoming very complex, and every sufferer usually requires a number of dealings and tests.  So, it’s really difficult to estimate the open cost of care.

But the Modern Technology has impacted immensely on Medical Billing and Coding.

Traditionally diagnosing and treatment were fairly complex. It took extensive effort and wealth. The modern technology with high-tech equipment and the innovative procedure has brought about quick development in the healthcare system that has rationalized every medical function and improved healthcare service quality.

Digital technology has significantly helped in wide healthcare functions and medical billing and coding, remote monitoring, compliance with health regulations, and timely diagnosis and treatment. The great advantage of using technology is streamlining each function, saving time, reducing other paperwork, and removing any slip-up that can affect the whole medical procedure.

The Revenue Cycle Management (RCM) is an important process of every medical practice because it ensures that the patients are charged in the approved manner, and more significantly, the other healthcare providers including Doctors, Surgeons, Therapists, Nurses, lab technicians, and social workers are paid properly for their professional services.

The RCM starts with the registration of the names of the patients and ends only when the healthcare provider receives the payment in full for giving medical services. Though Medical billing and coding are both different processes they are interlinked and very important for a smooth revenue cycle management process.

After the coding is completed, the process of claim generation starts based on the coding. It is then sent to the insurance company for payment. It is the medical billing. The insurance companies, then, either accept or deny the payments following the codes. The billing process that starts with the setting up of an appointment ends in reimbursement through the insurance company. Because of this billing, the health care cost most of the time has become affordable for the people who wish to take health care services.