Medical Billing Interview Questions and Answers

Recoupment is the process of recovering overpaid funds or correcting payment errors in medical billing.

• Recoupment is a common practice in medical billing to rectify payment discrepancies.

• It involves recovering funds that were overpaid to healthcare providers or correcting payment errors.

• Recoupment can occur when insurance companies identify billing errors or when there is an overpayment due to duplicate claims or incorrect coding.

• The process of recoupment may involve deductin...read more

A lockbox is a secure location where payments are received and processed on behalf of a company or organization.

• Lockboxes are typically used by businesses to streamline the payment collection process.

• They are often operated by banks or third-party service providers.

• Customers send their payments to a designated lockbox address.

• The lockbox provider collects the payments, deposits them into the company's bank account, and provides detailed reports.

• This method helps businesses to...read more

Medical billing codes are used to identify medical procedures and services for billing purposes.

• Medical billing codes are standardized codes used to identify medical procedures and services for billing purposes.

• These codes are used by healthcare providers to submit claims to insurance companies and government programs such as Medicare and Medicaid.

• The most commonly used medical billing code set is the Current Procedural Terminology (CPT) code set, which is maintained by the A...read more

Modifiers are used in medical billing to indicate that a service or procedure has been altered in some way.

• Modifiers are two-digit codes that are added to CPT or HCPCS codes to provide additional information about the service or procedure.

• Modifiers can indicate that a service was performed on a different body part, by a different provider, or with a different technique.

• Examples of modifiers include -50 (bilateral procedure), -LT (left side), -RT (right side), and -59 (distinc...read more