Medical Insurance When Your Patient Is a Spreadsheet
Category : Insurance Marketing
The healthcare industry is always growing and always changing. While almost everyone is familiar with the idea of malpractice insurance for doctors, there are many actors in the healthcare industry who work behind the scenes supporting direct care providers. Medical billing and medical coding are fast-growing, highly technical fields that also need professional medical insurance services, though their risks and obligations are unique.
The Risky Moment When Service Becomes Revenue
Medical coders apply standardized codes to the services of direct care providers so that insurance companies and other care providers can make sense of the resulting medical records. Medical billers then use those codes to determine how much, and who, to charge for medical services. Errors in either of these functions can be hard to detect, expensive and dangerous.
A Constellation of Obligation
Medical billers and coders have to concern themselves with liability arising from many sources:
- The providers they work for
- Other providers who may be involved in a patient’s care
- Insurance companies
- Statutes and government regulations
The widespread push to control costs through outsourcing adds points of failure by increasing the number of parties involved and further siloing communication.
A good insurance provider with experience in the healthcare industry can guide a client through the complicated and dynamic landscape of medical billing and coding. They can craft a policy that fits the particular needs of their client, and let the client focus on growing their business with peace of mind.