Medical Billing Is the "Other" Side of the Doctor’s Business Office
There has been tremendous growth in the medical billing industry. Hospitals, clinics and private practice physicians do not have the time and often times lack the knowledge to properly bill for their services. In these cases, they use a medical billing company.
One of the largest determinants of a medical billing salary is definitely the number of years experience that you have. According to PayScale, those with less than one year of experience make a median salary of $12.20 per hour. In contrast, those with twenty years or more experience make a median salary of $16.06 per hour. As experience increases, so does your salary.
There are also problems with patients and companies who do not agree with the bills submitted for payment. Someone has to justify all the fees billed to these individuals and companies before payment will be made. Some patients are not able or willing to pay their debts to the clinic, and arrangements have to be made to collect those fees or at least partial fees. A medical billing service can do collections and get paid for the clinic faster. They can increase payments and reimbursements from individuals and insurance companies.
Removing an aspect of the practice like medical billing, frees the doctor to practice medicine. They no longer need to worry about contacting the insurance company for rejected claims. They do not need to focus on hiring office staff that is familiar with medical billing or coding of claims. They can be assured of quick payment and accurate claims. Patients can be reassured that they are not being billed incorrectly. Delegating this responsibility to another party makes good business sense.
