One of the fastest growing areas of healthcare has to do with the assembling and the recording of patients records and bills. With the ever-increasing complexity of the health care system it’s no surprise that careers in medical billing and coding are on the rise. Before we get into the specifics of what kind of salary you can make in this field, let’s take a look at what medical billing and coding is all about.
Medical billing and coding professionals are often discussed and referred to together due to the similar skills it takes to do each job. Though the occupations require similar skills the jobs are different, the basic responsibility for medical coders is to translate patient information. This information is then entered into a database in order to produce a statement or claim.
The statement or claim is sent to the insurance carrier where it is either accepted or denied. If accepted, the job of the coder is done, but if rejected the coder must investigate the rejected claim and update the information accordingly. If all goes well with the claim a bill is sent hence the name of the occupation medical billing.
Medical Billing And Coding Salary
The overall average medical billing and coding salary in the United States is $44,000 per year. The salary of medical coding varies depending on which medical field you’re coding for. If you’re coding for neuro-psychiatry you can make up to 62,500 a year which is one of the most lucrative fields for coding.
Plastic surgery and intervention radiology pay around 50,000 a year for coding. The salary all depends on the type of medical field chosen and the experience a coder has.
One of the big draws of a career in medical billing and coding is the fact that entry-level salaries can be relatively high when compared to other entry-level positions in the healthcare industry. Just keep in mind, that those applicants with the best education and preferably with certification will have the best chance to land the best jobs. Read on to find out about how you can get certified and what education is needed.
Education Needed For Medical Billing And Coding
A diploma or equivalent is required to become a coder. An Associate’s Degree isn’t required but it will help and is very useful. To obtain an Associate’s Degree two years of college on average is the time needed to get the degree. Training to be a coder may also be offered on the job.
Becoming certified will give you a significant advantage over the competition when it comes to finding jobs in medical billing and coding around the country.
Most employers prefer to hire credentialed applicants so it’s a great idea to take a look at the associations that can help you get yourself certification. The American health information management Association (AHIMA) offers credentialing to those participants who have completed a two-year associate degree program and then pass a written examination.
The American Academy of professional coders (AAPC) also offers credentials for prospective medical coders. Be sure to do some further research into requirements for your specific state.
If you’re interested in getting properly prepared for your certification exam, click here to check out this Medical Billing and Coding Certification prep video course.
Important Skills To Have
In order to become a successful medical bill or encoder, there are a few skills that will really help you fly up the ranks.
- Great oral and written communication skills
- Computer software knowledge
- Ability to continually learn and stay on the cutting edge of technology and job processes
Medical Billing And Coding Job Outlook
Job growth is expected to increase by around 20% between 2008 and 2018 according to the US, Bureau of Labor Statistics. This is quite a bit faster than the average job in the U.S. and represents a pretty promising career future for anyone interested in this field. The outlook for this field is very promising due to the increased scrutiny of medical records by the government.
Around 39% of jobs for medical billers and coders are in hospitals. They can also be found working at physicians offices, nursing care facilities, outpatient care centers and home healthcare services. They can also sometimes be found working at federal government agencies. As baby boomers get older and older there is expected to be a massive hike in assisted living centers as well as nursing home centers. Because of this, more and more medical billing and coding jobs are expected to open up in these areas.
Medical billers and coders form a crucial part of the healthcare system as a whole and without them the entire process would break down as hospitals would not receive payment in patient’s records would become hopelessly lost and disorganized. Therefore it’s no surprise that with the ever-increasing complexity of the health care system, the need for medical billing and coding workers is expected to increase.
if you’re interested in this fast-growing career path and be sure to do some further research online into what specifically your state needs in terms of education requirements and whether there are online training or education programs that can help fit your need. Good luck!