The job outlook for medical billing/coding career is very good. In fact, it is expected that the employment rate in this profession will increase by 20%. It is definitely faster than other professions. The increasing demand in the use of information technology to store medical records is one of the reasons for this job growth. According to the Bureau of Labor and Statistics, the projected number of medical billing/coding professionals will be 207,600 in 2018 from 172,500 in 2008. In that case, there will be 35,100 new medical billers/coders hired by the end of 2018.
Software for medical billing/coding
The job growth is not affected by the inception of computer programs that can handle medical billing and coding. Employers will still hire qualified individuals to enter the data correctly and verify any discrepancies among the hospital, insurance company and the health care provider.
Another reason you might want to consider medical billing/coding as a career is the fact that the hours of work for this profession are set and standard.
Salary rates for medical billing/coding profession
The estimated mean annual wage of medical/coding professionals was $35,010 while their estimated mean hourly wage was $16.83. But you can go higher than this if you have the right qualifications. In fact, some of the individuals who work in this area are earning as much as $53,000 a year with an hourly wage of $25.
You can look for a job in the hospitals where level of employment is highest. However, if you want to earn as much as $49,000 a year, then you might want to consider applying in any of the business, labor, professional and political organizations. This category was reported to be the top paying industry for medical billing/coding profession.
Certification for medical billing/coding
Because most employers would favor individuals with certification for medical billing/coding, you should consider getting or passing a credentialing examination. One of the certifications you might want to consider is getting a Registered Health Information Technicians (RHIT) certification.
The requirements for taking RHIT certification examination will include:
• A 2-year associated degree
• Passing the AHIMA-administered written examination
Other organizing bodies that offer credentialing certification examinations
• American Academy of Professional Coders (AAPC)
• Board of Medical Specialty Coding (BMSC)
• Professional Association of Health Care Coding Specialists (PAHCS)
• National Cancer Registrars Association (NCRA)
If you want to know more about the credentials available, you may contact any of the above mentioned credentialing organizations.
Education and training requirements
Because the job of a medical biller/coder is complex, you should have a good grasp of medical terminology, clinical classification and coding systems, data analysis, database security and management, among others. If you are good in biology, math, health, chemistry and computer science, then you can easily perform your job as a medical biller/coder.
Learn more about the average medical billing and coding salary. This health field is growing and pays well. Find out more from Medical Coding Certification.