Molecular lab billing involves the billing and coding process for medical services performed in molecular laboratories, which focus on analyzing genetic material and molecular markers to aid in diagnosis, treatment, and research. It includes capturing patient information, assigning accurate medical codes specific to molecular tests and procedures, and submitting claims to insurance companies for reimbursement. Molecular lab billing requires expertise in coding guidelines for molecular diagnostics, understanding of insurance policies, and compliance with regulatory requirements to ensure proper reimbursement and optimize revenue in molecular laboratory settings.