When it comes to finding a new career, consider training for medical coding and billing, a growing occupation in a growing industry.
The U.S. Bureau of Labor Statistics estimates that three million healthcare jobs will be created in the decade leading up to 2016. Employment in medical coding and billing is expected to increase by 18 percent in the same time, which is faster than the average for all occupations, the bureau said.
Job responsibilities
Medical billing and professional coding specialists work hand-in-hand to make sure that all of the medical invoices are coded and paid properly. As institutions shift to electronic medical records, workers who have a strong understanding of technology and computer software will be in high demand.
To make sure that all medical services are billed correctly and that bills are paid on time, medical billers need to frequently communicate with patients and insurance companies.
In contrast, professional medical coders have less interaction with patients and insurance companies but work closely with physicians. They are responsible for assigning a code to each procedure and diagnosis for insurance purposes.
Needed skills and training
The medical coding and billing occupations require a strong knowledge of medical terminology, anatomy, the laws that apply to health information, medical billing software, coding procedures, and quality improvement measures.
Training in these areas can take anywhere from about six to nine months for a certificate. Courses, the majority of which prepare students for a certification exam, can be found at many community colleges and online.
Specialists will also need to stay up-to-date on government regulations and pay close attention to details to avoid costly errors with potential legal ramifications.
Income
According to the Bureau of Labor Statistics, the average hourly wage for medical coding and billing specialists was $15.85 or $32,960 in May of 2008. The middle 50 percent earned between $24,290 and $39,490. The lowest 10 percent earned less than $20,440, and the highest 10 percent earned more than $50,060. The median annual earnings at hospitals, which employ the most medical coding and billing specialists, was $34,910.
Job opportunities
While two in five specialists work in hospitals, there are also job opportunities in nursing homes, physicians’ offices, insurance companies, outpatient care centers, and public health departments.
Certifications
While certification as a coding specialist is not necessarily required for a job in the field, it is highly recommended. Many employers require that new employees, if not already certified, be certified within a year of being hired.
The American Academy of Professional Coders offers four certifications, including the Certified Professional Coder credential. It requires that an individual pass an exam, have two years of experience in the medical field, and complete 36 continuing education units every two years.
The Professional Association of Healthcare Coding Specialists offers a Medical Coding Specialist certification, which requires that individuals pass an exam and complete 24 continuing education units every two years.
The American Health Information Management Association certifies coding specialists who pass an exam and complete 20 continuing education requirements every two years.
The Board of Medical Specialty Coding certifies specialty coding professionals with two years of experience and advanced coding specialists with three or more years of experience. Specialty coding professionals are required to complete 10 continuing education requirements every year, and advanced coding specialists are required to complete 12 a year. Both must pass an exam to be certified.
There are many opportunities for continuing education units, including online seminars. Some larger health institutions offer in-house continuing education classes at no charge to employees.
Earning certification as a coding specialist can offer those in lower-level positions in the healthcare industry, including front desk and data entry workers, career advancement opportunities, especially if the employer offers tuition reimbursement.
Advancement opportunities are also available for those already certified. Coders, for example, can advance by specializing in a medical concentration, such as cardiology, gastroenterology, orthopedics, or radiology coding. And there are opportunities for advancement into management positions, including office managers, supervisors and directors of coding and billing departments.
The majority of medical coding and billing specialists work a 40-hour week. However, in hospitals, some specialists may be required to work evening and night shifts. The office atmosphere of the job makes it unique in that it is one of the few healthcare occupations that does not center on direct contact with patients.
The job of medical coding and billing specialists is one that is constantly changing with the revision and addition of government regulations. And, in this changing environment, medical coding and billing specialists are becoming an increasingly integral component of the healthcare industry.