CMS in medical billing means Centers for Medicare and Medicaid Services. CMS is an agency that looks after various programs of medical care within the United States. This agency works under the supervision of the HHS Department. It makes sure that all major programs of medical care are administered smoothly, including Medicare, Medicaid, and Health Insurance Exchanges.
All You Need to Know About CMS in Medical Billing
Here is everything that you should know about CMS:
CMS Program History
The existence of the agency might be linked with the Medicare and Medicaid programs that began functioning on 30th of July, 1965. At that time, President Lyndon Johnson signed the law bill requiring medical care programs established. At the moment, the role of the CMS in the medical industry is beyond federal insurance programs, such as Medicare and Medicaid.
Programs that CMS Covers
CMS covers the following programs:
- Medicare
- Medicaid
- CHIP
Private Insurance and CMS
The main purpose of the agency is the formulation of federal healthcare insurance programs. However, it also helps regulate the marketplace of private insurance. Its purpose is to promote healthcare insurance services across the United States through the 20101-Affordable Care Act regulated by CCIIO. With the Affordable Care Act, it has become possible to create a platform allowing customers to enroll and apply for private insurance programs efficiently.
CMS is also responsible for gathering and analyzing data, producing research reports, preventing insurance frauds, etc., in the healthcare industry. The agency also issues updated Medicare deductibles and premiums every year for maintaining transparency and promoting smooth Health Insurance Marketplace functioning.
Therefore, it is evident that CMS in medical billing is essential and extremely vital for healthcare services offered by the Centers for Medicare and Medicaid Services. If you want to know more about medical billing and relevant services, you should keep visiting us.
You May Also Read: Medical Billing Claims – All You Need to Know