01/26/2023
It's important to understand the differences between professional billing and institutional billing if you're considering hiring someone to do you medical billing and coding.
Professional Billing
Individual doctors' practises employ professional billing as their preferred method of payment. The knowledge of both billing and the coding system is frequently expected of specialists who concentrate on professional billing.
These particular features of professional billing 1 are listed below:
• The CMS-1500 Forms are filled out for professional billing.
• Although electronic filing is the preferred method for filing claims with Medicare, Medicaid, and some other organisations, some claims are still submitted on paper. Professional billing also includes filing paper claims, which is necessary.
• The 837-P, which is the electronic form of CMS 1500 form, is used when an electronic claim is filed.
Institutional Billing
Hospitals, clinics, rehab centres, nursing homes, and other institutions must all have their billing taken care of by medical billers who specialise in institutional billing. This includes both inpatient and outpatient care, as well as supplies, lab services, radiological services, and other things.
Here are a few distinctive characteristics of institutional billing:
• The common claim form for institutional billing is the UB-04.
• The 837-I form will be utilised for institutional billing of electronic claims.
• While particular job responsibilities will vary from company to employer, institutional billing employees are likely to concentrate only on billing and/or collections.
Dive Medical Billing is an industry specialist and will do all the billing and coding for you!
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410-777-9409
info@divebilling.com