Medical billing refers to the process of submitting and following up on claims with health insurance companies in order to receive payment for healthcare services provided by healthcare providers. This involves translating medical procedures, diagnoses, and treatment plans into universal alphanumeric codes that are used for billing and reimbursement purposes. Medical billing also includes verifying patient insurance eligibility, processing payments, and resolving any billing discrepancies. Efficient and accurate medical billing is essential for healthcare practices to receive timely reimbursement for their services and maintain financial stability.