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reimbursement requirements for billing purposes in the USA healthcare system - Essay Example
Finance & Accounting
Pages 4 (1004 words)
Reimbursement requirements for billing purposes in the USA healthcare system Name: Institution: Introduction Insurance refers to a means of indemnity against a future occurrence of uncertain events. People ascribe to different insurance services in order to cushion themselves from different forms of uncertainties…
There are two types of insurance service providers; private and government. Private insurance is a form of business just as any other and therefore exist primarily to make profit. They therefore develop service bouquets that protect their primary interests of profitability. Government insurers on the other hand obtain their funding from the taxpayers and therefore operate with the sole objective of providing affordable medical insurance to the appropriate citizens. Government therefore provides insurance services to its employees known as civil servants and the poor in the society most of whom cannot afford the cost of private insurance. In both cases, the insured remit a monthly contribution to the service provider for the insurance coverage. On those considered the poor by the government, they remit a small amount of money set by the government, which the government supplements with money from the treasury. This way, everyone affords high quality medical services. Medical insurance services differ in terms of the cover specifications. A feature more prevalent in private insurance government insurers provides uniform services to those it considers unable to afford private services. ...
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