Are you interested in seeking employment in the healthcare industry but don’t have a medical degree? If that’s the case, then you can pursue your dreams by stepping into medical billing and coding career.
As the US healthcare industry has become one of the fastest-growing industries for job seekers. The future for professional billers and coders looks bright. Even if you have no interest in medicine or patients’ care, you can still contribute to the industry by pursuing your career in the fields of coding and billing.
Both fields fulfil an important administrative function within the medical industry. No doubt careers in both fields didn’t even exist a few decades ago. But is now a crucial part of the administration of any medical practice.
Moreover, it has been estimated that medical billing and coding jobs are projected to increase at a faster-than-average rate of 8 per cent through 2028.
What are the Responsibilities of Billers and Coders?
Before discussing further details about medical billing and coding career, let’s have a look at the responsibilities of billers and coders.
Medical coding classifies patients’ diagnosis, symptoms, healthcare procedures and treatments in a way that both medical practitioners and insurance companies can understand.
Similarly, medical coders are responsible to extract information from clinical documents to translate it into universal medical alphanumeric codes. So, they play a significant role in health information management.
Moreover, medical coders must possess in-depth knowledge about the following codes:
- Current Procedural Terminology (CPT)
- International Classification of Diseases (ICD-10)
- Healthcare Common Procedure Coding System (HCPCS)
Meanwhile, medical billers use these codes to prepare medical claims. They are responsible to file insurance claims, follow up with payers, denial management etc. they stick to the claims until physicians get paid.
Training to Start Medical Billing Coding Career
In order to begin a medical billing and coding career, you need to earn a high school diploma or medical coding certificate which may be completed in between 6 to 12 months.
Additionally, there are also opportunities working in the advanced Health Information Technician and Health Information Management. That takes on a more holistic view of health information and medical recordkeeping technology. You can also get professional training at community colleges, technical schools and commercial schools.
Where Do Coders and Billers Work?
In addition to hospitals, billing and coding career can be pursued in a wider variety of settings including:
- Physician’s clinics.
- Healthcare consulting services.
- Educational institutions.
- Insurance agencies.
- Law firms.
- Government agencies.
Why is Medical Billing and Coding Career in High Demand?
Here are the following reasons that the coding and billing jobs will witness a surge in upcoming years.
1. Healthcare is expected to be a growth industry
The latest changes in the healthcare industry have made medical billing and coding extremely complicated. Therefore, medical practitioners don’t rely on inexperienced staff. So they prefer to hire certified billers and coders to boost the productivity of their medical businesses.
Moreover, the requirements to follow the international standards to prepare the medical claims, changing insurance policies have paved a way for a bright billing and coding career. So, professional billers and coders are in high demand in the US, and that trend is expected to continue.
2. Switch to ICD-10
As medical billing and coding are complicated procedures. And it has been observed that due to complexities, medical practitioners only hand over their claims management in hands of certified billers and coders.
This implies that the demand for these experts have been increasing and healthcare practices offer every possible bonus to retain the ones they already employ.
Moreover, the switch to the ICD-10 coding standard has made the shortage more acute. This new coding standard, ICD-10, provides in-depth details about diagnosis, treatments with more than 87000 codes.
This transition is expected to significantly brighten the medical coding and billing career. Healthcare facilities are expected to increase the hiring of medical billing and coding specialists significantly in upcoming years.
3. Regulatory Changes
The requirements of federal laws including, HIPAA and the Affordable Care Act (ACA) made it crucial to acquire the assistance of experts to keep the revenue cycle management compliant. Which has ultimately increased the demand for experienced billers and coders.
In addition to this, the rising number of medical frauds have also become a major reason behind hiring professional and reliable medical coders and billers. Because certified coders make sure that there are no coding errors that can lead to healthcare abuse and frauds. So the trend of hiring billers and coders will witness a surge in the future.
Why Should You Choose Medical Coding As a Career?
Are you curious to know more about the medical billing and coding career? Read out the following advantages of choosing this career path:
- Stable income.
- In-Demand Career: Medical Coding is a growing career in the rapidly expanding healthcare industry. As the population ages, the billing and coding career in the healthcare industry will encounter increasing demand.
- Flexible Work Environment: Medical Coding provides you with choices. You can easily work full or part-time, and you may even be able to work out of the office i.e work from remote locations.
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