Why is it Important to Understanding Billing and Coding
WATCH THIS VIDEO: Understanding Insurance Plans - YouTube
Understanding the billing and coding aspects of your midwifery practice are essential in today's ever changing health care environments. Families are expecting to have their expensive health care services to be covered by their insurance plans. I want to see midwifery practice grow and multiply across the United States. It is a must to understanding the business and financial aspect of our midwifery practices. Knowing how to make an accurate fee schedule, negotiating with insurance companies, deciding to be in or out of network, billing claims yourself or hiring someone, and estimating costs of care to families is a must from midwives. We advocate for our families to have great births and access to midwifery. Creating a sound business plan and policies for your financial aspect of your practice will really help keep midwifery around for the future!
Great resource book: "Getting Paid: Billing, Coding, & Payment for Midwifery Services - 5th Edition" Getting Paid: Billing, Coding & Payment for Midwifery Services, 5th Edition (PDF version) – American College of Nurse-Midwives Store
Great midwifery stats: https://www.birthbythenumbers.org/midwifery/
DISCLAIMER: I am not a lawyer, accountant, or financial planner. The information being provided is from years of knowledge and direct experience being a business owner using these billing strategies. Each person's life needs will be different and seek professional advice before implementing any specific recommendations provided in this course.