The services involved in medical billing collections are as diverse as the scope of the career itself. Although it is sometimes equated with medical coding, medical billing collections is actually a wholly different aspect of the healthcare information field. For one, medical coders concern themselves with choosing the correct diagnostic and procedure codes. On the other hand, medical billing collections professionals are the ones who make decisions which help healthcare providers achieve optimal reimbursements for the services they render to their consumers.
Medical billing collections are often described as the key to getting compensation for medical services rendered. Medical billers are even described as the persons to go to if you want to get paid. With the emergence of HMOs, PPOs, and insurance plans today, many doctors, medical offices, clinics, and health centers are seeking the services of medical billing collections professionals to help them streamline their respective practices and process insurance claims. That is why medical billing collections are fast becoming the top occupations in the healthcare industry.
Medical billing collections deal mostly with insurance so in order for you to have a successful career in this field, you need to be trained in understanding the medical industry, health insurances, and all the complexities that go hand in hand with it.
Medical billing collections also call for working knowledge on basic and major medical coverage plans, such as the Fee-for-Service Plans, Health Maintenance Organizations (HMOs), Point-of-Service Plans (POs), and Preferred Provider Organizations (PPOs). There may also be other methods of billing patients and insurance companies so it is advisable that you familiarize with these as early as now.
The typical medical practice is divided into two sections. The first section is the back office. This is the area of the medical assistant and the doctors. It is that aspect of the medical office where personnel directly deals with patients. The other section is the front office. This is where medical billing collections apply. It involves everything that pertains to running and managing a practice – from billing and accounting, patient scheduling, electronic record storing, data organization, and so on.
The successful medical billing collections professional must know how to use a word processor or a computer. He must also be familiar with medical billing software and practice management systems which are both indispensable tools to speed up the processes involved in medical billing.