Are you looking for a career in the healthcare industry, but not sure where to start? Then get a certificate in medical billing and coding. Because it can be a great way to begin a career in healthcare and open the door to many opportunities.
However, there is a misconception regarding a career in medical billing and coding. That these are very hard fields to get started in, but in reality, it’s not true. You just need some training to update your skills to meet the standards of medical coding.
Certification in billing and coding provides you with extensive industry knowledge. Which enables you to jump right into work. Coders play a crucial role in healthcare revenue cycle management. They transform patients’ diagnosis, procedures, medical services, into universal medical alphanumeric codes.
They extract such information from clinical documents, physician’s notes, laboratory and radiologic results, etc. Moreover, they check the medical charts to ensure it’s coded correctly.
Because the physician’s reimbursements are highly dependent on accurate coding. So, medical coding is crucial for the financial stability of a healthcare facility as well as from a compliance perspective. The average pay of a coder is approximately $55,078, yearly depending on the credentials and experience of the biller.
On the other hand, a medical biller is responsible to submit and follows up on claims with health insurance companies. They ensure the timely filing of clean claims to receive payment for services rendered by a healthcare provider.
It’s pertinent to mention here that a professional medical biller can earn around $45,000, yearly depending on credentials and experience.
So, if you are still confused about choosing a career in medical billing and coding, then you should carefully read this article.
Here are the following reasons that this field is highly desirable for you.
1. Certified Billers and Coders are in Demand
With the latest advancement in the medical industry, the demand for billers and coders is growing with every passing year.
Moreover, according to the Bureau of Labor and Statistics, these fields are expected to grow by 15% between now and 2024. This implies that there will be almost 30,000 job openings in the upcoming years. This is faster than the rate of other occupations.
Furthermore, a medical practice can’t keep its claims process tight without the help of highly trained billers and coders. As the healthcare industry witnesses constant evolutions in terms of insurance policies, federal laws, billing and guidelines.
It has become crucial to have well-experienced billing staff in place to manage the claims process according to industry standards.
For instance, if you hand over the healthcare revenue cycle management to the existing staff, having no experience. Then they will find it difficult to understand the complicated coding language and prevent the claim denials. Which can ultimately result in a revenue loss.
Therefore, the trend of hiring certified medical billers and coders is getting pace. And in upcoming years their demand will grow more rapidly than ever before.
2. You’ll Learn New Skills
By choosing a career as a medical biller or coder, you will learn many marketable and transferable skills. Which can also help you to get any other job in the market. You will learn:
- Time management.
- Attention to detail.
- Medical terminologies.
- State laws and regulations.
- Billing and coding software.
- Problem-solving.
- Analytic skills.
3. Advancement is Available
If you are among those people who still used to think that there is no diversity or chances of promotion in this field. Then stop thinking like this. Because with additional certification courses to polish your skills and experience, you can secure a management position like:
- Coding or billing supervisor.
- Auditor.
- Medical billing manager.
- Medical Records Coordinator.
- Medical Coding Specialist.
- Medical Billing Specialist.
- Medical Records Technician (or Medical Records Tech)
- Health Information Specialist.
- Medical Records Analyst.
- Health Information Technician (or Health Information Tech)
- Medical Records Director.
In short, the more you build upon your experience, the more opportunities you’ll find. You can earn a better position as well as higher pay, depending on your experience and skills.
What are the Common Career Paths for a Medical Biller and Coder?
Medical billers and coders can work in a diverse range of healthcare environments including:
- Hospitals.
- Physician’s offices.
- Nursing homes.
- Home health care.
- Outpatient facilities.
In larger facilities, like a hospital, your career path may take you into medical coding management.
How to Become a Medical Biller and Coder?
Are you interested in becoming a medical biller or coder? For this purpose, you can complete a certificate or diploma program, which may be completed in less than a year.
Alternately, students can choose to pursue a degree, which can help them to qualify for positions with stricter job requirements. In addition to this, the best way to become a medical coder or biller is through formal training.
You should follow the below-mentioned guidelines to pursue your career as a medical coder or biller:
- Research medical billing and coding education options.
- Find the right school that will position you for success.
- Choose a suitable diploma or degree program.
- Complete relevant medical billing and coding courses.
- Prepare for the CPC certification exam.
- Learn how to find medical billing and coding jobs now!
Medical Billing Benefits is an insightful healthcare newswire that keeps you updated with the latest happening in the medical industry. Stay tuned to get the latest information about healthcare advancements.