Many people do not think of medical billing and coding job roles as a service to the healthcare industry. The leads in the healthcare industry include physicians, nurses, MLTs, Physician assistants, etc. But do you know there are other supportive job options as well? These include healthcare billing and coding specialist.
Medical billers and coders are associated with the financial aspects of the healthcare process. They are responsible for assigning appropriate medical codes for the diagnoses, treatments, and services given to a patient and ensuring correct payments. According to the Bureau of Labor Statistics, the job projections are expected to grow by 7% from 2021-2031. These statistics show the average growth rate of any other occupation. So, the future scope of Medical billing and coding is beneficial.
With these benefits, do you want to pursue a career in supportive roles in the healthcare sector? Don’t go anywhere! We are here to help. This blog will take you from inception to completion of the Medical billing and coding jobs.
Sneak Peek into a Medical Biller and Coder
Let’s start with the inception. From the educational background to the job roles, here’s a comprehensive guide:
You will need a high school diploma or equivalent to proceed to a medical billing and coding program.
After enrolling in a medical billing and coding program, acquiring a certification is the next step. For certification: gaining experience is the prime requirement. Then, pass a certification exam to be a certified medical biller or coder.
Every field has a different list of skillset requirements. This list for medical billers and coders includes a detail-oriented mindset, organization, analysis, know-how of the medical terminologies, anatomy, and coding system knowledge.
Stay updated about the changing dynamics of the industry and align your education and skills accordingly. If the in-demand degree is a high school diploma and you have experienced below the demand, upgrade your educational qualification to meet the trend. You need precise educational, certification knowledge, and expertise to excel in this field.
Coming to the job role, one person can perform the responsibility of a medical biller and coder. However, the skill set and expertise vary for both fields. Therefore it’s better differentiated. A medical coder assigns a specific alphanumeric code for any aspect of the services given to the patient. The insurance companies then receive these codes and proceed with the insurance plans accordingly. A medical biller receives these codes and generates the bill for the entire stay at the healthcare setup.
Why Should You Opt for Medical Biller and Coder?
You may wonder: Why should I opt for these fields? Is it a promising career opportunity? Are there personal growth chances for me in this field?
The answer is Yes. Medical billing and coding jobs offer a growing prospect in the future. The scope is vast, as the growth chances are around 7% from 2021-2031.
The salary ranges are also promising. The median salary for the freshers was $38,040 in 2016. Furthermore, in the US, the top 10% of the codes make around $62,840 or more annually.
The growth in job opportunities for medical billers and coders is the result of the following aspects:
- Aging population
- Shifting focus on health data and informatics
- Health records digitization
- Increasing insurance coverages
Medical Biller and Coder: Workspaces- A Comprehensive Guide
Now let’s discuss the prime part. Where can you work as a certified medical biller and coder? Here are some options for you:
Hospitals and Clinics
United States Bureau of Labor Statistics states that a more significant proportion of medical billers and coders work in the clinical setup. They work in shifts from 9-5 or may work night shifts.
Medical billing and coding in hospitals typically include specialized sections to deal with inpatient and outpatient care. On the other hand, those working in clinics concentrate on outpatient services such as minor procedures, physician consultations, and laboratory services.
A medical biller and coder might also work for an insurance company. They streamline the payment procedures and ensure that the claims are accurate. It requires detail-oriented skills to excel in this job role. The best part is many insurance companies provide remote job opportunities so you can work from the comfort of your home.
Nursing Homes and Assisted Living Facilities
Nursing homes also provide job posts for medical billers and coders. However, the job description modifies to fit the workspace needs. Here, a medical billing and coding specialist should understand the procedures related to ancillary services or routine visits.
In addition to nursing homes, a medical biller and coder can secure employment in geriatric services, hospice centers, and home health agencies.
Government jobs are always favored for their regular employment hours, promising pay, and lucrative compensation. Therefore, several medical billers and coders work in government agencies, whether state or federal. In this way, they can impact a broader healthcare setup.
As a medical biller and coder, you can secure employment options as a consultant. This role gives you a more commanding position. You have to ensure the alignment of the IT and quality assurance services according to the set standards.
Are there Remote Job Opportunities for Medical Billers and Coders?
One of the most significant advantages of working as a medical billing and coding specialist is the ability to work from home. There are various work-from-home opportunities, such as working for a virtual billing and coding company, freelancing, or starting your own business. Working from home offers a high degree of flexibility and independence, and it can be an excellent option for individuals who need to balance work with other responsibilities.
To conclude, a medical billing and coding specialist offers a side role in the healthcare industry. They deal with the financial aspects of the healthcare sector. Some workspaces for a medical billing and coding specialist include hospitals, insurance companies, nursing homes, government agencies, and consulting services. Moreover, you can work remotely from the comfort of your home. If you want to pursue a career in medical billing and coding, there are many healthcare jobs provider in USA.
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