Medical Billing and Coding is hot!
The United States spends over $2 Trillion a year on healthcare...10 of the 20 fastest growing job categories are healthcare related with projected growth of almost 3 million new jobs between now and 2018...and medical billers an coders are right in the middle of the action.
Medical Billing and Coding is hot right now because Healthcare - worldwide - is hot. If you listen quietly you can almost hear Healthcare sizzling as it consumes over 10% of the gross domestic products of each of the world's most developed nations.
Right Place...Right Time
Medical billing and coding are important functions in running a medical office. There are approximately 600,000 medical establishments in the United States and they differ greatly in size, personnel staffing, and management structure. Almost 80% of U.S. medical establishments are doctor offices, dentist offices, or other types of health professional offices. Although hospitals make up a negligible percentage of all healthcare establishments, they employ a whopping 35% of all healthcare employees.
Medical Administration and Medical Records Management are among the fastest growing career sectors in the healthcare industry due not only to our aging population, but also because of increased use of and reliance on information technology to store and retrieve the tidal wave medical data being collected. And we are just getting started.
The job outlook is very positive for these jobs/careers as there not enough trained professionals to fill the growing need. The healthcare industry, with encouragement and support from the government, has taken the lead in utilizing information technology in its record keeping and this has led to the need for more qualified healthcare professionals with the expertise to use the technology.
An aspiring healthcare professional who wants to work in the field of medical administration should certainly at least consider a career in this field.
But understand this, dedicated medical billers usually do not to earn as much as healthcare professionals who possess both billing and coding skills. And of course your salary will depend on a variety of factors such as the size of the organization or institution, geographic location, the individual's level of education, credentials, and of course your experience.
What Do Billers and Coders Do Anyway?
For anyone investigating Medical Administration as a career choice and not familiar with the field, medical billers and medical coders are responsible for analyzing protected patient information and assigning the most accurate diagnosis and treatment codes.
These codes come from the International Statistical Classification of Diseases (ICD)-9 codes (soon to be ICD-10) and the accompanying Current Procedural Technology (cpt) treatment code with their associated modifiers.
A medical coder's job is to scrutinize patient information, assigned by his or her employer, and apply the proper codes to these patient records. It is imperative that this information be properly recorded and coded for patient diagnosis and treatment records to be accurate. Medical coders are also involved in medical research to properly assign codes.
Regarding the medical biller, the same coding information would be given to the medical biller to be entered and submitted for claims for repayment of medical services rendered. A medical coding and billing professional is capable of performing both tasks.
Having difficulty getting your first medical billing/coding job?
I know starting out it can be tough but if you are really determined to have a career in medical billing and coding you may need to make yourself stand out from the crowd.
There is more than one path to your medical billing and coding career, and you can read about it in my free reports at Medical Coding Certification Videos
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