What is medical billing and coding? Medical billing and coding are the lifeblood of the healthcare system. These fields allow healthcare providers to be paid for their services. It is the medical coder’s job to translate the healthcare provider’s report, of a patient’s visit, into numeric or alphanumeric code. This code is then used, by the biller, to make a bill or “claim” for the insurance company and determine the appropriate charge for the patient.
Here is some exciting news for folks wishing to join the lucrative world of healthcare—the time is right for you to enroll, in a medical career college, and become a medical biller and coder. A recent report, issued by The Bureau of Labor Statistics, BLS, estimates that the number of positions in the field of medical records and health information technicians — which includes medical billers and coders — will increase 13 percent between 2016 and 2026. This industry’s growth rate is much faster, than the national average, for all occupations.
Furthermore, BLS estimates that 27,800 new positions will be added, for billers and coders, by 2026.The same BLS report indicates that in May of 2017, the median annual wage for medical records and health information technicians, was $39,180, and the highest paid ten percent of those specialists earned more than $64,610. Their analysis also finds that the State of California has the highest number of employed medical billers and coders in the United States. Billers and coders can be found in hospitals, physician’s offices, nursing care facilities, and outpatient care facilities.
Medical billers and coders, who receive their diplomas from accredited medical career colleges– like Valley College of Medical Careers–will have an advantage when it comes to employment because providers faced with decreasing reimbursement rates truly need these highly skilled para-professionals. At medical career colleges, the average student will graduate with a degree in Medical Billing and Coding, in ten months or less.
Medical billing and coding is also an excellent career choice, for those transferring skills from other professions, like administration, clerical, retail, and service industries. It is also an ideal occupation for more seasoned workers, who are looking to improve their earning potential. Given the high-stakes reimbursement landscape, individuals gaining a diploma in Medical Billing and Coding from a reputable medical career college can look forward to a secure and well-paying career and financial stability.