Medical Coding is an unsung hero of healthcare tapestry who manages all the operations at the back end of the system. The fact that coding acts as an invisible link connecting insurance companies and healthcare facilities helps to explain the significance of coding.
The healthcare industry has undergone tremendous changes in the past. These healthcare organizations are constantly looking for measures to boost revenue and improve the financial health of their facilities. With advancement comes trouble for both providers and patients.
Did you know that over the past 20 years, $2.4 trillion has been lost in payment errors? Choosing the right medical billing company for your healthcare facility can minimize the margin of these errors. Thus, help your facility grow financially.
According to the Medical Billing Outsourcing Market Analysis report by Future Market Insight, it is expected that by the end of 2032, the US would account for the highest gross revenue of $23.4 billion. A significant turn towards medical billing outsourcing has been observed.
The U.S. Bureau of Labor Statistics, in its recent report, predicts that by 2026, the Medical Billing and Coding industry will expand up to 22%.This industry is responsible to protect the confidentiality of patient information while ensuring that healthcare professionals receive adequate reimbursement for their services.
