The healthcare field is one of those industries that promise growth and success. Because the demand for quality medical care services is going to increase in the upcoming years and there is no way down. Therefore, every professional associated with the medical field would be able to earn more even from their existing jobs.
Likewise, medical billing and coding specialists are also going to scale up their worth in near future. Even a person who doesn’t have an interest in the medical field can adopt medical billing and coding as a long-term career.
Because it is solely centered around the administrative skill set and requires great expertise to proceed with healthcare revenue cycle management. Since medical billing and coding is a complete field integrated within the field of medicine.
Therefore, just like the healthcare industry will keep expanding then medical billing will grow along with the flow.
Current Worth Of Billers & Coders:
Bureau of Labor Statistics conducted a report that shows_ medical secretaries earned a median annual wage of $34,610 as of May 2017. Although, this sector earns a very basic salary when compared to other professionals working in the field of medicine.
However, as I mentioned earlier that every career within the healthcare sector will grow across the continuum of the medical field. Bureau of Labor Statistics stated that the medical billing and coding field will grow at the rate of 22% from 2k16 to 26.
In fact, if you visit few online jobs of medical billing and coding experts on different websites i.e. salary_com, indeed_ com. Then you would find out that expert billers and coders are getting paid at the rate of $27/ hour.
So if you’re deciding to begin your career in medical billing and coding then it is nothing less than a good decision. Majorly, the factor that matters is that you should have an interest in administration and financial management.
In fact, BLS states that medical secretaries who work in the scientific R&D services are earning the highest median annual salary at $42,780. In government healthcare facilities, these professionals can earn up to a higher median wage of $42,710/year.
On the other hand, the top 10% in the field earns more than $50,340 a year. For your information, most medical billing and coding professionals can start their careers after secondary school. It doesn’t require the degree or certification of higher education to become a medical biller/ coder.
Certified Medical Coders:
Those medical billers who first attain industry certification can gain more advantages. For instance, if any person gets complete training and becomes a Certified Professional Coder (CPC®) credentialed from the AAPC.
Such certified coders can achieve higher earnings when combined with their industry experience. In 2017, the AAPC conducted a salary survey_ where they found that the CPC certified coders who had on average 13 years of experience could earn $54,106/month.
How To Get A Medical Billing Job?
Medical billing and coding is a highly promising career just like any other field in the healthcare sector. According to the growth rate of this field that I stated in light of BLS’s report. We can see that this is much faster than the average of all other professions.
Also, there are 129,000 new job openings all around the US in the coming years. If it is important for you to consider a career that has a high demand then this is for you. Because as much as the population ages, the need for medical care is going to increase more. This increase would lead to more need for updates in medical records and insurance billings.
Since healthcare organizations are using more advanced medical billing solutions to increase the profitability of their practice. Then they will acquire the assistance of well-qualified experts more than ever.
Therefore, highly trained and certified medical billing specialists can take advantage of faster-than-average employment growth. In such a case, this profession would bode well for future growth in the long run.
So if you want to adopt the career of medical billing and coding then you should preferably get the certification of CPC. Along with your training, you can also start doing a job as a medical biller and coder from the entry-level.
When finally you would get your certification then you would also have hands-on experience in this field. Soon after your certification, you can apply for a better job-position in the medical secretary’s office. In this way, you would be able to earn higher wages than the rest of the administrative staff.
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