Healthcare professionals are compensated for each service they render under the standard billing model, fee-for-service billing. Establishing a specialized billing team, choosing the best medical billing software, and instructing the staff on best practices for claim filing, medical coding, and revenue cycle management should all be part of this new procedure. They can also lower the possibility of audit fines and assist your practice in maintaining compliance with current regulations. When a patient or their insurance company is directly billed for a doctor's services, this practice is known as fee-for-service billing. According to the Bureau of Labor Statistics, the employment of medical coders is projected to grow by 8% from 2019 to 2029, much faster than the average occupation. It includes accurate and timely submission of medical claims, tracking of payments, and management of denied or rejected claims.
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