People often use the words Medical Coding, and Medical Billing together and pretend like its different word with the same meaning. But it is not the different word with the same meaning. In medical terminology, there are no two words that have a different meaning. That means the Medical Billing and Medical Coding are different from each other. If you are willing to understand the difference between the Medical Coding and Medical Billing, then you are in the right place. In this post, we are going to share the difference between Medical Coding and Billing in brief, which will allow you to clear the doubts.
What is Medical Coding?
Medical Coding is the coding system, which is used while maintaining the patient records and communicating about the situation with the doctors. Medical Coding is used to manage and disclose the patient’s records and medical conditions. It is nowhere related to any of the billing purpose, except for the identification of the disease or the treatment that the patient has received or will receive. Medical Coding is all about applying the CPT, HCPCS and ICD-10 standardized protocols. It’s part of the national or global protocol system used by the States.
What is Medical Billing?
Medical Billing is the part of accounting, which is used to create the summarized Bills of the patient’s expenses at the hospital for submission to the Insurance companies or the government agencies. Medical Billing requires accuracy to get a positive response from the Insurance Companies for the disbursement of claims or the government agencies. Medical Billing involves the use of Medical Coding, in case the patient has suffered from the disease that requires mentioning the Standardization code according to the regulations.
Why Maintaining the Balance between Medical Coding and Medical Billing is Important?
Medical Billing and Medical Coding are two different things, but they go hand in hand together. It is one of the essential parts of the Medical Industry, and the administration works on these two things. Without Medical Coding, Medical Billing is incomplete. The hospitals have to mention the Medical codes for each expense that is applicable for being charged in the insurance claim filings. Also, medical Billing is used to explaining the Procedure cost to the patients.
Why Should You Choose a Right Medical Billing Solutions Provider?
Hiring a third-party Medical billing solutions provider is an excellent convenient option for the hospitals. With the medical billing solutions providers, the hospitals can outsource the tedious task of the Medical Billing, insurance claim submission and getting the disbursement of the requested claim. Also, the solutions provider will take care of all of the medical regulations that are required to be completed for better records.
This is all we have to say about Medical Billing and Medical Coding. In short, these two are not the same but different terms used in the same industry. Instead of trying to go deep with these two terms, it is always better to hire a third-party billing solutions Provider Company and let them handle all the complicated things.