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Medical Billing Work

The medical billing business is a crucial link among the various doctors, health-care providers, insurance companies and patients. There is a need of efficient medical billing service for providing the legitimate dues to several doctors, health-care providers and patients. They depend on medical billing service operators for getting fast processing of their insurance claims. The target market for medical service billing is wide including family practitioners and medical specialists such as like osteopaths, obstetricians, geriatrics, oncologists, etc. It also comprises of social workers, pharmacists, home-health practitioners, nursing homes, medical equipment providers and others.

You can start your medical billing service business from your home as it saves money on renting an office. You can use this saved money for setting up business necessities such as computer system along with modem, printer and fax machine, answering machine, stationery, office supplies and others. It is required for you to know the all the aspects of the medical billing service business for smooth operations. The various types of work includes submitting patient information, name of the physician or referral source, CPT and ICD-9 codes from the super-bills as well as day sheets. Once this is done, the electronic claims are directly transmitted to insurance carriers or the clearinghouse.

The annual gross revenues is in the range of varies from $20,000 to $100,000 for medical billing services and it depends on the size of the business. There are three ways for charging the clients including Percentage basis, Per claim and Per hour basis. As the name indicates, using the Percentage basis includes charging the health provider a percentage of the money collected per month. This percentage depends on the going rate, the patient volume and the procedures provided by doctors. The most popular method is Per Claim basis that involves focussing on straight claims billing. The Per hour billing is used for clients who have a low billing rate.