Medical bills can be paid in many ways. They may be paid by the insurance company, the patient, or a combination of both.
Sometimes medical bills are not covered under an individual’s health insurance plan. In these cases, the patient is responsible for paying the bill.
Managing medical billing is quite a challenging thing to do. That’s why healthcare organizations and individual practices hire medical billers to take care of all medical billing. It includes claim processing, front-end services, and more.
Let’s get through the guide about how to manage medical bills and why you should hire a professional medical biller.
How to Manage Medical bills?
People need to manage their medical bills. Medical debt can accumulate quickly and become overwhelming for some individuals.
Some options available when it comes to the management of medical bills include making payments, working with bill collectors, and filing bankruptcy.
The process of billing varies depending on the type of insurance. For patients with private insurance, the bill is submitted to an individual’s health plan for payment.
The patient’s responsibility is to make sure their deductible has been met and make arrangements for a copay as applicable.
1- Private Insurance Medical Bills
A medical biller receives all private insurance claims from providers and submits them to the insurance companies. Submit claims as early as possible, follow up with patients regarding outstanding bills, and collect all amounts due from them.
A medical biller processes all information related to billing, following all HIPAA guidelines. The medical biller also takes care of a patient’s insurance appeals if they disagree with their health plan’s decision not to cover a certain bill.
2- Private Insurance Claims
A patient has the option of filing for payment directly, and if they choose to do so, they can expect to receive their claim check in one billing cycle’s time. Most health plans will reimburse 90 percent of patients’ charges within 30 or 60 days after providing services.
3- Private Insurance Claims Processing
Medical billers will follow up with patients who have not submitted their copay or deductible payments and continue to work with health plans that are disputing coverage of medical bills. They will also assist patients in the appeals process.
4- Private insurance billing
The medical biller must charge a fee for submitting claims, so the patient should discuss the cost. The medical biller usually charges per statement submitted and does not include anything related to deductible or copay.
The cost of medical billing varies and depends on the number of statements sent per month, type of insurance plan, patient’s location, and the number of statements sent per year.
Why hire MDSol for Managing Medical Bills?
MDSol billing services provide tailored services for small medical practices and groups of physicians. To get more information on how to manage their medical billing, contact us today!
Visit our services section or email us at email@example.com to get a free consultation.
We hope that we have answered your query about how to manage medical bills. Well, hire a professional medical billing company to take care of your billing needs. Follow us on Facebook, Instagram and LinkedIn as well.