Payment posting is the process of posting payment in system paid by Insurance Via check or EFT. This team also posting denail and correspondence leter in system received from the issurance. It means that you have taken meaningful steps to: Track and account for all services that are being provided to patients.
Team that do follow up on billed claims and take a complete details of claims. Accounts receivable follow-up team in a healthcare organization is responsible for looking after denied claims and reopening them to receive maximum reimbursement from the insurance companies.
Refund is a process of returning the excess money than the specified amount to the responsible party, patient, or insurer on request.
Medical coding is the process of taking a patient's health care information like medical procedures, diagnosis, necessary medical equipment, and medical services information from the physician's notes. A medical coder transforms this information into universal medical alphanumeric codes. Somtime happens when claims gets denied due to coding issue, coding team reviewed these denials and make necessary changes and billed corrected claim to the insurance for payment.