According to Investopedia, the healthcare sector in the U.S. accounts for a fifth of overall gross domestic product — making healthcare one of the most significant employment sectors in the country. If you’re interested in taking a piece of the pie, but don’t want to work with patients, you might want to consider starting a career in medical billing and coding. In as little as six months, you can begin your future in a highly in-demand occupation with infinite growth possibilities.
Medical billing and coding is a fast-paced and rewarding career, with salaries averaging $52,44, according to AAPC data. From working in a hospital setting to a doctor's office, there are plenty of employment opportunities for medical coders in the U.S. Keep reading to find out more about this exciting and promising career.
Medical billers and coders are healthcare professionals that are responsible for processing patient data. This includes information such as insurance information and treatment records. Medical billing and medical coding professions work together to ensure healthcare providers are paid efficiently and accurately for their services.
Medical billers and coders require an in-depth understanding of health insurance and the claims process, as well as the appeals process. An effective billing office is vital to the financial health of the practice or hospital they serve.
Benefits of a Degree and Career in Medical Billing and Coding
According to the U.S. Bureau of Labor Statistics, the demand for medical billers and coders is set to grow 11% over the next ten years. This is excellent news if you’re looking to get into the industry now, as you can expect to experience employment growth and demand.
Medical billers and coders can work in a variety of settings, from hospitals to nursing homes, and doctor’s offices. Some medical coders even enjoy the flexibility of working from their own homes.
A career in medical billing and coding could net you up to $66,000 per year, according to All Allied Health Schools.com. In fact, the average salary for medical coding and billing is $52,441 — much higher than the federal minimum wage.
A medical billing and coding degree can be easily obtained through online study. This is, by far, the most convenient and affordable way to start your new career. Not only will you save on commuting costs, but you can study at your own pace and fit your training into your schedule. Typically, most courses take between six and twelve months to complete. There are various online courses and programs for medical billing and coding; however, it’s crucial that you choose one that is accredited by the Commission on Accreditation of Health Information Management.
Many doors can be opened by a medical and coding degree, offering students a plethora of opportunities in their new careers. For example, Medical Records and Health Information Technicians are responsible for translating medical services and procedures into billing codes for insurance claims. Certified Compliance Officers, on the other hand, investigate and evaluate medical billing processes, to ensure that they don’t fall short of industry regulations. The average annual salary for a Certified Compliance Officer is $67,000. Alternatively, if you would rather work in a clinical setting, you could consider becoming a Medical Transcriptionist and working alongside physicians to create medical transcripts for chart work.
As you can see, there are endless growth opportunities and career advancements that you can make with a medical billing and coding degree. If you’d like to learn more about this rewarding occupation, be sure to research available courses thoroughly, and only consider reputable certification courses.