There was once a time where doctors and practices would handle billing the old-fashioned way by sending out bills via snail mail. Times have changed however and technology has rapidly evolved the way hospitals and practices handle all of their billing. Electronic medical billing allows practices, hospitals, and doctors to hire an individual that can utilize the Internet for billing. Electronic medical billing is not only far more efficient than traditional billing but also allows medical professionals and their practices to receive payments much faster than ever before.
At the conclusion of a physical examination a doctor or a member of their staff will receive a five digit current procedural terminology code that describes the level of service rendered during a patient’s visit. The firm responsible for handling electronic medical billing will utilize numerical codes to describe a diagnosis as well. These codes are submitted electronically to determine which portions of a claim will and will not be paid. This is far better and less of a hassle than waiting for a letter to the return in the mail.
Electronic medical billing has become extremely efficient and has seen a rise in popularity thanks to the rulemaking for stage I of the meaningful use of electronic health records technology which was proposed released at the end of 2009. What this essentially did is require hospitals and other providers to submit a certain percentage of all their claims electronically by the end of 2011. In doing so they would receive reimbursement under the HITECH Act.
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