Medical billing and coding are two of the most critical components in any medical practice. Accuracy in both of these areas is critical to patient safety, rapid payment and efficient operations.
Medical billing and coding requires skilled professionals who can read, interpret, record and track complex medical information quickly, maintain patient confidentiality and strong attention to detail.
Regulatory and contractual compliance
Medical billing and medical coding fall under many state and federal guidelines. Perhaps the most significant is the Health Insurance Portability and Accountability Act (HIPAA). HIPAA protects patient confidentiality, requiring any medical practice or hospital to take safeguards to protect confidential patient information. HIPAA guidelines also cover electronic medical records and the International Classification of Diseases (ICD-10) uniform diagnostic codes issued by the World Health Organization (WHO).
Furthermore, medical practitioners are bound by contracts with insurance companies. Contracts spell out negotiated rates for various medical procedures and treatments. accurate coding and billing ensure that practices are in contractual compliance.