Question

Think back on your level of medical insurance knowledge before you started this course and describe the impact this course has had on that knowledge. If you had little or no knowledge of this field, how has this course helped you? If you already had a background in medical insurance, what has this course provided that you didn't already know? Why is it important to understand the aspects of billing, coding and reimbursement in the medical and insurance industry?  

Answer 1

Medical insurance dates back to 1752 by Benzamin Franklin who first founded a company for it.Initially it covrted history the accidents.Insurance actually came into medical practice only after 1920.It was sponsored by the government after the incident of world war two. It was the 36 th president Lyndon B Jhonson first passed the Medicare and Medicaid in 1965. Later just in about 5 years managed care was introduced through the HMO.

This can help one to know why insurance is needed by an individual because not all situations in life can be safe, incidents which are tragic needing medical help can be accessed if one has insurance irrespective of any background. This has been made very specific in regards to care received and the reimbursement process.

In order to charge or bill correctly and keeping convenience in future the codingvwas introduced fir billing and reimbursement process.The insurance company acted as a mediator between a healthcare sector and the patients financial ability to pat for medical bills via insurance.

Understanding this is very important in order to know the reason for claiming ,how it is reimbursed ,identify any threats or violation in it and what has to be done by am individual.