Financial Class in Medical Billing
Financial class refers to the classification of patients based on their insurance or payment source, such as private insurance, Medicare, or self-pay.
Financial Class in Medical Billing Explained
In medical billing, the financial class helps categorize patients for billing purposes. It determines which insurance company or payment method is responsible for covering the patient’s medical expenses, ensuring accurate claim submissions.
For example, a patient with private insurance is classified under the “private insurance” financial class, while a self-paying patient is under the “self-pay” class.
Find common acronyms and abbreviations in Medical billing glossary.
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