Medical Billing And The Healthcare Industry Essay

746 Words Aug 4th, 2016 3 Pages
The laws that apply to billing for medical services are medical billing & coding, medical transcription. Like regular commercial business, the healthcare industry has to comply with certain state and federal regulations to stay legal. Unlike the commercial businesses, however, the healthcare industry has to follow additional rules and regulations. This is because medical services not only deal with the business side of the medicine, but also with the healthcare individuals. This means that they have much more of a responsibility to remain within the ethical standards of business, as well as medical, practice. On the national level, CMS and the CDC regulate much of the medical industry. These two organizations govern Medicare and Medicaid services for the poor, elderly, and disabled (CMS), and the control diseases (CDC). They both working together and create new regulations. These new rule make sure that all medical professionals provide the most up-to=date and trustworthy services to their patients.
Medical billing experts estimate that the US Government lose 30 cents of every dollar earned from fraudulent practices and medical billing scams. With confusing Medicare regulations spanning over 45,000 pages, an endless supply of loopholes and technicalities susceptible to illegal utilization, and the average person’s inability to wade through a mountain of paperwork and medical jargon, it’s no wonder that people and the government alike lose thousand each year to medical…

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