Channel Sponsor - Coding/Billing/Collections

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When it comes to medical billing, training matters — 3 insights

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Accurate medical billing is essential for a practice to achieve sustained success.

When centers are lackadaisical in their training efforts, compliance is threatened.

Here's what you should know:

1. According to several reports, up to 80 percent of medical bills contain coding mistakes resulting in $68 billion in estimated losses.

2. Forty-two percent of claims submitted to Medicare are incorrectly coded.

3. In 2012, approximately $92 billion was added to Medicare and Medicaid spending as a result of fraud.

Practice Management Institute offers online medical billing training, according to a release. The online class has reportedly increased revenues for medical offices opting to use it.

PMI President David Womack said in a release, "Recently, it’s become more difficult for medical office staff to get away from the office to attend training. But with big changes in physician reimbursement models and potential for healthcare breaches and billing audits, the need for training is more important than ever."

To learn more about PMI, click here.

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