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Medical coding is the process of conveying standardized numerical content codes to patient medical care charts. The coded information is meant to make sure that insurance companies and government organizations like Medicare, and all patients alike get accurate billing statements for medical services executed. Medical coders convert diagnostic and procedural data into simple numerical codes that can be processed electronically to be paid by third party payers, such as Medicare and insurance companies. The medical coding process needs good attention to detail to make sure the exactness of billing records. Coding requires regular and rigorous auditing to make sure that the billing process is accurate as literally there are billions of dollars at stake. Medical coding, in a number of ways, is a much more examined activity than patient records transcription.

Medical coding is typically carried out in clinics or hospitals, though we’re starting to see a number of these coding and billing jobs migrate to perform at home positions. Generally, medical coders start with the health record of a transcribed patient and transforms procedures and diagnoses into numerical codes. This needs a good deal of proficiency in medicinal terminology and fluency with the pertinent codes. This of course entails formal training. Billing experts picks the coded output generated by the coder and present it for reimbursement to Medicare, insurance companies, or straight to the patient. Most of the time both the coding and billing function can be performed by a single person. This is certainly correct in smaller clinical settings. However, in large and high volume medical care operations, coding and billing are usually organized into split functional areas. Of these two, coding professionals usually enjoy a higher income and need more specialized training.

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Medical transcription is an accepted allied medical care service which is a procedure that converts voice-formatted reports into a text format. This can printed and kept in physical files or can be simply kept in an electronic format. An individual who transcribes the reports is called a medical transcriptionist who works either in the hospital or in a professional agency or contractor who carries out the procedure offsite under a clinic or hospital contract. With the medical care industry favoring the electronic way of recording and keeping patient information, online healthcare record give the impression of increasing reputation not only in the Western states but all across the globe. The services can be outsourced with no trouble from expert companies which focus on transcribing dictated or prerecorded reports into a text format.

The core to performing the Medical Transcription job is listening and writing. Medical transcription experts are also known as healthcare documentation specialists. They are in effect medical language experts whose work is to interpret and transcribe dictation by healthcare professionals. They are trusted professionals who collect healthcare records precisely and confidentially by conveying voice-formatted reports into text. A medical transcriptionist is trusted with private and personal records to make sure that the records captured match what is dictated. Being a great medical transcriptionist entails the capability of interpreting dictation correctly and protecting patient information. They must have the skills needed to work directly with doctors, surgeons, and/or other specialist and healthcare professionals. Medical transcriptionists don’t need to possess a certification for this profession. Although they will have extra credibility and possibly make more cash if they do.

A medical transcriptionist may be located remotely, but the rates tend to be competitive and the accuracy and speed’s standards are high. Transcriptionists working online, away from the physical workplace, allow lower labor costs, lower training and HR costs and lower cost for equipment maintenance. The company that is remotely located takes on all the expenses, settling the bills normally paid by the subcontractor’s client.

A company that offers medical transcription services also benefits from their workers’ experience. Most medical transcriptionist have worked with health records for years on end, and recognize the operation’s fundamentals, including ER procedures, discharge summaries, progress notes, operative notes, and so on.

There is a difference between medical coding and transcription based on what each entails and the activities involved. However, both are health care procedures that are very crucial when it comes to record keeping and record security. These medical professionals are convenient as one can even work from home and perform to their best.

The Medical Information Management Industry is really benefiting from the rapid improvements in online coding technology. Increasingly, the work is being done online. As online coding continues to gain popularity, we are likely going to see a lot of positions that were traditionally offered exclusively in healthcare facilities start to migrate to home based jobs. The work at home model has done very well for the transcription industry and will also possibly start gaining traction in the coding industry as online coding increases prevalence.