It is highly likely that you have seen ads where employers are wanting medical billing and coding professionals. They are two of the most important careers in the healthcare industry, which is in high demand.
Though surely this is not the first time that you have heard about these terms, but do you really know what a medically billing and coding person does?
Both medical billing and coding belong to the group of service providers to doctors, who are too immersed in their professions to have the time to file for insurance claims to get paid for their services. Most patients today are tied with health insurance companies who pay for their healthcare needs. But how does the doctor get paid? They have to file claims for reimbursements for the services rendered to their patients. It is at this juncture that the medical billing and coding professionals step in.
A person knowledgeable in medical billing and coding is usually considered an expert in his field because of their highly-developed skills. These professionals are remunerated according to their training, experience, skills and the effective application of these skills. It is said that a medical billing or coding person can earn any where between $33,370 and $415,061 annually. This kind of income surely attracts many ambitious individuals in this field.
Which are the people or institution who seeks the help and support of medical billing and coding personnel? These would normally include physicians, clinics, hospitals, and patients in handling allied health issues. Also included are various medical offices and health insurance companies, and many more allied institutions. According to the US Bureau of Labor Statistics, medical billing, coding and health information technicians are among the ten fastest growing careers in the healthcare industry.
It is important however to note that entering either medical billing of coding profession is an easy task. These jobs require a high degree of skill, expertise and experience in handling several important and critical areas of healthcare management including billing and accounts receivable, medical office management, insurance claims processing, submitting claims, etc.
The whole process of medical billing and coding would start much ahead of the patient actually turning up at the medical center and finishes long after the patient has been diagnosed and prescribed medicines. This is to avoid any delay, inaccuracy or miscommunication during filing for insurance claim. Hence it is important to verify and rectify the insurance benefits much before the patient lands up at the clinic. After the doctor has seen the patient, his observations are recorded in the medical record which is converted into appropriate codes for coding the insurance claim.
While undoubtedly medical billing and coding can become a very challenging career it could be rewarding too if you can become an expert in the field. With proper education and training, the sky is the limit as far as your personal achievements are concerned in this field.
One of the best parts about this profession is that depending on the company that you work for, you could do the job from home too. This is a very viable option for many who enter this profession. All you need to do is to consult your local college or adult education center and make enquiries about the details about their medical billing and coding programs.
