WHAT IS MEDICAL BILLING?
-
This business seems to be no more than data entry and that the software makes the business work. And clients just waiting for someone to process their electronic claims..
-
WHAT IS MEDICAL CODING?
Medical Coding is the process of converting verbal diagnosis and procedures to a standardized Universal numerical code. The details of the Medical diagnosis and procedures...
-
MEDICAL BILLING CLASSES
The Medical Billing industry is one of the fastest growing industries in the market. In the Global market the Medical billing has shown a tremendous upsweep in the last few years...
MEDICAL BILLING FUNCTION
People from US normally acquire their medical insurance through their employer. An employer /company signs up for a particular health insurance plan..
MEDICAL INSURANCE PLANS
Types of Medical insurance can be basically placed in 6 categories:
- Deductible
- PPO's
- HMO's
- Medicare
- Medicaid
1. DEDUCTIBLE:
This is the oldest type of medical insurance .it use to be the only one offered. With a deductible plan, the insured person has a stipulated amount of money he/she must pay before the plan's benefits go into effect. This pre-determined amount is called a deductible. Deductible amounts vary from plan to plan. A rule of thumb is that the higher the deductible amount, the lower the monthly premiums are.
After a patient reaches his/her deductible, the health insurance company begins paying for a portion of incurred charges. And, the patient pays for the remainders .This is called the coinsurance and most plans offer payment structures in the following manner:
90% / 10%
80% / 20%
70% / 30%
60% / 40%
In health insurance lingo , this is called 90,10 or 80,20 or 70,30 . If a patient's health insurance is 80/20, then the insurance company pays 80% and balance 20% out of his/her pocket.