The rapidly aging population in the healthcare field has added a need for qualified individuals in the Medical Billing and Coding sector. There are far more patient’s then there are doctor’s, nurses and other medical professionals. Medical Billers and Coders are growing at a rate of 20 percent a year, 15% much faster than average.
What is a Medical Billing and Coding Specialist?
As most medical information is becoming digitized, medical billing and coding specialists’ are the custodians of modern medical records. Their job duties include organization and maintenance of patient records and databases. This allows doctors and nurses (among others) to access the complete and correct information about a patient very quickly. Translating doctor’s notes to standardized codes instead of a looking at extensive doctors notes or procedural details. Medical personnel can look at a very brief summary of their patients’ situation. Updating records of patients’ treatments and procedures, coders ensure that the information is up to date. One of the bigger issues in healthcare right now is getting the information from the healthcare professionals to those handling the finances.
Medical Billing and Coding Salary
The wages for new medical billers and coders grow year after year. Take into mind that you will not make that of a veteran medical biller or coder to start out. It will take time to come into the higher pay range of the field. The latest from the Bureau of labor statistics, the average medical biller and coder makes $18.29 per hour and roughly $38,040 per yearly salary. Medical billers and coders not only make more money on average, they work in a professional environment with normally great healthcare packages and benefits, especially if working for a large organization or hospital. Over time with opportunities for advancement with or location, medical billers and coders salary surpass those of many other career fields.
Medical Billing and Coding Education
While some businesses or organization’s offer training programs for these careers, it is not very common. Commonly your path in becoming a medical biller or coder is by completing a training program through college or education institution. These training programs can be completed in the classroom or online, being offered by hundreds of community colleges and technical programs it should not be a problem for you to get your start today.
- Penn Foster offers two programs that can be beneficial for those interested or currently working in the healthcare field. ICD-10 Training for ICD-9 Coders is a shorter certificate program that focuses solely on teaching skills needed to process ICD-10 codes.