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Physician - Research Paper Example

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Without money as a mode of exchange, it would be difficult to measure the value of the services rendered. Just like other businesses, health providers need billing to facilitate…
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Physician

the physician billing which has eight potholes: previsit process, patient check-in process, charge capture and entry process, claim process, payment posting process, account follow-up process, denial management process, and patient collections process (Walker, Larch, and Woodcock, 2004). Each pothole must be avoided at all cost to ensure the smoothness and speed of the billing process.
In all types of businesses and professional practices, transactions are inevitable and the one giving the service will get to earn from his efforts while satisfying the needs of the clients. Nobody can deny that money is a need to be able to facilitate exchange and to allow anyone to purchase his needs and wants.
In the process of transactions, billing is a primary concern. According to Business Dictionary (n.d.), billing is the “process of generating an invoice to recover sales price from the customer and is also called Invoicing.” In the process, the business earns revenue wherein profits are made and the expenses of the business for the service are also covered. In other words, invoicing is important that the organization facilitates the process of getting paid after the service or product is delivered to the client which includes having billing accounts. In that way, invoices are matched with the orders, efforts, and transaction records and for tracking the payments (Silverston, 2001).
In the medical field, business is inevitable as hospitals and healthcare providers need to earn revenue to cover their operating expenses. For physicians, they need to earn profit from their expertise by assisting people with their physical ailments. For that reason, medical billing comes to life. Medical billing involves coding as the process is made to assist the physicians in processing insurance and medical claims effectively. The process involves handling patient invoices and taking care of reimbursements. The reimbursement process contains the medical procedures and services rendered ... Read More
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