Medical Billing and Coding Employment Outlook
Medical Billing and Coding Careers offer a Great Opportunity in a Growing Field. Learn about the Medical Billing and Coding Employment outlook, Medical Billing and Coding salaries, education, and training.
Find out what a medical biller or coder does so you can decide what the best career path when considering medical billing and coding careers.
Thinking about starting a medical billing business? We’ll get you the facts on what it takes and how. See how medical billing and coding salaries compare.
Medical Billing and Coding Employment – Many Opportunities
Not only is there a need for medical billing and coding specialists for the health care provider practices, there’s also opportunities for medical billing and coding careers as:
- Consultants working for practices to advise on billing processes and compliance.
- Specialist working for medical billing and coding companines who serve multiple practices and specialties.
- Consumer billing advocates.
- Insurance and coding specialists for private insurance and local, state, and federal government agencies.
- Advisors to liability and malpractice companies.
What is Medical Billing?
Learn what a medical billing specialist does. Process claims, enter billing codes and patient data. Find out what the typical daily duties are.
Medical Billing Employment
The U. S. Department of Labor – Bureau of Labor Statistics projects an annual increase of 14.4% in health care office and administrative support occupations. Although the Department of Labor does not specifically categorize the medical billing specialist, they do project a 20.9% increase in those performing bookkeeping and accounting functions and a 21.5% increase in general office clerical functions – which is where the medical billing employment functions best fit.
This corresponds to a projected increase of 21.3% for professional and related occupations – or health care providers which will need billing services. Especially considering the increasing complexity of the billing process brought on by changes in health care reimbursement (like HIPAA).
In summary the outlook is very good for medical billing and coding careers. And this is based on the most credible source available – the U.S. Department of Labor. Reference the Bureau of Labor Statistics Career Guide to Industries – Health Care.
How Much Does Medical Biller Make?
See what a typical medical billing specialist salary is. See how pay compares to other medical office jobs such as medical coding.
Medical Billing Coder
Considering a medical coding career? Learn what a coder does and what certifications are available.
Medical Coding Job Opportunities
The DOL projects a faster than average growth for medical coding jobs with those having a good background being in especially high demand. Through the year 2016, medical coding positions are estimated to increase by 18%. This higher than average demand is due to the increased need for medical treatments, procedures, and tests due to an aging population. Also driving the demand is greater scrutiny placed on health care services by insurance companies, consumers and their employers, and regulatory agencies.
Medical coding jobs will also be abundant for those with good computer skills. There is an increasing movement by the health care industry to electronic medical records. DOL projects opportunities in physician offices, outpatient/home health services, and nursing facilities. This bodes well for medical billing and coding careers. Not only will new positions be created but many opportunities will be created by retirements.
Experienced medical coders with credentials will be in particularly high demand. Health care providers and facilities are challenged to attract and retain good coders. The Occupational Outlook anticipates job prospects to be especially good for medical coders through temporary job agencies and professional services firms.
The U. S. Department of Labor (DOL) creates the Occupational Information Handbook which gives the outlook for various professions in the United States. The medical coder job falls under the classification of Medical Records and Health Information Technicians. According to their latest report, approximately 2 out of 5 jobs (or 40%) of jobs are in hospitals. The remaining 60% are in provider offices, nursing facilities, outpatient centers, and home health services.
How Much A Does Medical Coder Make?
See what affects Medical Coding Salaries are and what the salary range is for medical coders. Learn how experience influences the Medical Coding Specialist Salary and compare to other Medical Office occupations.
Can You Work From Home?
You’ve probably seen the ads for at home medical billing jobs. Do medical billing and coding careers lend them selves to working from home? The short answer is yes but it’s not as simple as some of those ads make it sound. See my experience with medical coding jobs at home.
Consider Starting a Medical Billing Business
Is it a viable? Learn what you’ll need and how much it costs. What does it take to start a successful Medical Billing Business. Learn from my personal experiences starting a home based business. 10 Money Saving Tips for starting a Medical Billing Home Business.
Medical Billing and Coding Careers – Importance
Carrying out the responsibilities of a biller or coder for a provider is not easily appreciated. The complexity of Medical billing and coding careers are many times under appreciated. Those who work in the profession will tell you it can be very rewarding and challenging. But it can also at times be stressful and working for a provider who doesn’t understand or appreciate that makes it even worse. That’s where you see a practice with high turn-over in the position and high accounts receivables. So be wary of that when looking for a job.
It’s not as simple as purchasing a how to book on medical billing and coding careers, a cheap practice management software, and your ready to go! In my case I learned by working under someone who really knew medical billing and by studying and reading up on everything I could find about medical billing that was legitimate. I say that because there is a lot of “junk” out there (for lack of a better word) written by people who have never really experienced medical billing.
Some providers think the billing and coding responsibilities are something that can be done by the receptionist in their spare time between answering the phone and checking in patients. Well to them I say you get what you pay for!
Without knowing what they are doing, an inexperienced or untrained biller can really cost a practice. A provider needs to remember that the financial well being of the practice and everyone who depends on it for a paycheck is dependent on the medical billing and coding functions to be accomplished efficiently and promptly.
Medical Billing and Coding Careers – Specialized Knowledge
The medical biller has to know the nuances of insurance contracts, reading and interpreting Explanation of Benefits (EOB’s) and Electronic Remittance Advice (ERA’s), guidelines and regulations, following up with insurance companies, etc. There’s also managing accounts receivables, claim appeals, explaining patient statements and balances, … the list goes on.
The medical coder must interpret a doctors notes, assign the proper diagnosis and treatment codes, and modifiers when needed. This is where training and experience in the unique requirements of coding and medical terminology are necessary. When one individual is trying to perform both tasks for a busy practice, this can be almost overwhelming if they are not trained or experienced.
Medical billing and coding careers are the key to a practice being a successful business. That’s why it is of utmost importance that the person performing these tasks has the experience and/or training to be successful. It can also prevent costly and disruptive compliance, legal, and audit issues.
Don’t waste your money like I did when learning billing and coding. There are affordable options compared to traditional training.
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