With the increase in medical expenditure due to a greater vulnerability towards diseases as well as inflation in prices in the medical industry given the supply demand gap in developing countries like India most of the educated class is opting for a medical insurance to cover the prospective medical expenditures. In India most governments are yet to start social sector insurance schemes and hence it is the prerogative of individuals to get a medical insurance. Similarly, it is the burden of the treating physician or hospital as a whole to collect payments from the insurance company in case any of its customers takes medical services from the doctor or the hospital. Medical Coding and Billing is thus the backbone of all public and private health care providers. Professionals draw high medical coding and billing salaries as a result of this high demand and relevance.
Medical coding includes organizing and recording all treatments and diagnostic procedures including service charges levied by the attending physicians. This is done according to a standardized coding format and procedure which is used by all medical service providers and insurance companies across the country in order to avoid any confusion. Medical coding is done so that a hospital or physician can effectively communicate the services provided to a patient to the insurance company of which the patient is a client. This then allows the hospital to create a bill of all the due payments which can be cross checked by the insurance company. Medical insurance providers cover partial or complete costs of the treatment depending upon the terms of contract between it and the client (patient) and between it and the co-client (the hospital or physician). Insurance agreements are periodically revised.
Medical coding and billing salary are high but centrally depend on the professionals experience and expertise which determines his abilities to create error-free online and offline (as the case may be) billing documents efficiently and in a short time. Many hospitals train assistant nurses to perform the duties of coding and billing as they have a certain degree of acquaintance with the medical procedure involved in various treatments and diagnoses. They also have a working knowledge of how the clinic or hospital functions as a whole.