What does auditing involve in the medical billing process?

Auditing in the medical billing process primarily involves analyzing Electronic Medical Records (EMR) for accuracy. This crucial step ensures that the information documented in the medical records aligns with the claims submitted to insurers for payment. By carefully reviewing EMR records, billing specialists can verify that all diagnoses, treatments, and procedures are accurately recorded, minimizing the chances of claims being denied or delayed due to inaccuracies. This analysis helps identify any discrepancies or errors that may need correction before submission, ultimately leading to more accurate and efficient billing practices.

The other options, while important components of the billing process, do not specifically capture the essence of auditing. Preparing claims involves the actual creation of claims for submission to insurers, compiling payment statistics focuses on financial analysis, and contacting insurance companies is part of following up on claims after submission rather than the auditing process itself.