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Physician Billing - Research Paper Example
Pages 3 (753 words)
Physician Billing Sherrie Vassar University Shelye Mishler Medical Insurance Procedures MED1840XD Date Abstract Billing is important as all businesses live on the flow of money in exchange for services rendered. Without money as a mode of exchange, it would be difficult to measure the value of the services rendered…
A more specific term comes out of medical billing is 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. Physician Billing 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. ...
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