The process of deciding how much money will be paid by a third party for a procedure is a Billing and Insurance Term.
<h3>What is a medical billing and coder?</h3>
Medical coding involves extracting billable information from the medical record and clinical documentation, while medical billing uses those codes to create insurance claims and bills for patients. Creating claims is where medical billing and coding intersect to form the backbone of the healthcare revenue cycle.
<h3>Third-party payer</h3>
An organization other than the patient (first party) or healthcare provider (second party) involved in paying healthcare claims. Third-party payers include
- insurance companies
- governmental agencies
- and employers.
With this information, we can conclude that Medical coding involves extracting billable information from the medical record and clinical documentation, while medical billing uses those codes to create insurance claims and bills for patients.
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