When a medical professional uses fee-for-service billing, they are paid for each service they deliver and bill on a per-service basis. Medical billing is an important aspect of the healthcare industry that impacts both medical providers and patients alike. Under fee-for-service billing, the medical provider bills on a per-service basis, meaning they are reimbursed for each service performed. Medicare and Medicaid are government-sponsored insurance programs for qualified individuals, whereas private insurance is provided by companies or purchased on an individual basis. The terms fee-for-service and value-based payment models refer to the two most popular methods of medical billing. Private insurance is offered by employers or purchased individually, while Medicare and Medicaid are government-sponsored insurance plans for eligible individuals. Each of these types of health insurance has different coverage options and eligibility requirements. Medicare is a government-sponsored health insurance program for seniors over the age of 65, while Medicaid is a government-sponsored health insurance program for low-income individuals and families.
medical billers
