The latest projections from the U.S. Bureau of Labor Statistics has shown from 2012 up until 2022 the number of healthcare positions required will increase by around 30%.
When you compare this to other worldwide industries which will only grow by 11%, it is easy to see why healthcare as a profession is such a great option.
A vast number of individuals would take this to mean doctors and nurses, and while they are high on the lists of needed professionals, there are many positions which are in more of a support role than being hands-on.
Over the past couple of years, the economy has maintained its strength with unemployment holding at less than 5%. This is the lowest it has been since 2008. For individuals in employment, it gives them the confidence to spend more on conventional and discretionary forms of healthcare.
The Patient Protection and Affordable Care Act also had a large part to play in this as now many individuals have easier access to treatment through their health insurance.
As there is such a demand for healthcare workers, this spreads indirectly to health insurance companies. The needs for both medical billers and coders whose job it is to connect healthcare providers the patients and their insurance companies together.
In this position, a person has to read a patients charts to determine their medical history. This will also include any diagnosis and the treatments which were administered.
Based on this information, a set of medical codes are used to transcribe this history to a form of shorthand which can be used by both health care providers and the insurance company.
With a position of this type, a medical billers and coders salary can be in the region of over $30,000 for the lowest position.
Careers of this nature like many other supporting ones, will be crucial. Without them, there is no link between doctors and hospitals and patients not to mention the healthcare companies who provide coverage.
This is the generation which is placing a strain on the healthcare service and driving the demand for skilled people.
Every year close to 4 million baby boomers is reaching the age of 55. This leads to the number of Americans who are aged 65 and above, rising to a figure of 54 million within the next two years.
This figure increases all the way to the year 2029 where the elderly will reach some 71 million.
This generation is living longer due to better medicine and technology, and these people are taking better care of themselves. For some, though, they will be struck by illnesses which are not treatable to provide a lasting cure.
When patients have illnesses of this nature, they have the choice of where to be cared for. A vast number choose to remain at home. This means the number of home help services will require physical therapists and nurses.
Ambulance services are another area which will continue to grow. As the adult population rises, so will the number of outpatients and short-stay patients who will need transportation between dialysis facilities, imaging centers, and doctors’ offices?
This is one area which is often overlooked. There is plenty of talk of the baby boomer generation living longer.
There is a good number of these individuals who work in the healthcare industry. Now they are reaching the age where they are looking to retire. This leaves natural openings aside from any other increase in the longevity of the average American adult.
During 2017 there was a lot of talk about the sweeping changes that would take place to the Affordable Care Act. Fortunately, by the year-end, the ACA was still in place, albeit with a few modifications.
A lot of the talk was about how this repeal would slow down job creation in the healthcare sector. This never happened, and the industry introduced an extra 300,000 positions.
While everyone still has affordable access to seeing their doctors. Demand will continue to grow. As this does the supporting occupations such as the billers and coders will grow along with it.
The more interaction between healthcare companies and hospitals or doctors, the more this type of person will be required to assist the seamlessness of working from the same information at the same time.
It’s impossible for someone else to decide for you whether a phlebotomy technician or a medical biller is a better job.
Both are very different jobs and have different pros and cons. Taking a look at the differences between the two will help you figure out which is better for you. Your situation may dictate which job suits you better.
A medical coder or biller assigns codes to procedures and diagnoses for a patient’s insurance claim. These codes are entered onto a particular system by certain regulations. As a medical biller, you are primarily responsible for turning medical information into code.
There is a big list of codes you can choose from, so knowledge of the human body and diagnoses is fundamental. Having this knowledge will enable you to select the right code for the right procedure. You will often be in contact with healthcare providers and insurers to make sure the correct coding is used.
As it stands, there is no official qualification required for you to apply for a medical biller or coding job. But there are courses you can attend that enable you to gain professional certification, which will help you get a job.
Having these qualifications will help you stand out from other candidates and help you negotiate a higher wage.
Many of these courses to become a certified medical biller or coder can be done online. They shouldn’t take you any longer than a year to complete, and most people will finish them in less time.
On these courses, you will learn about anatomy and physiology of the human body. This will help you determine the right code to apply to the procedure or condition. The Certified Professional Coder qualification (CPC) is the highest you can be awarded and is the industry standard.
Average medical billing and coding salaries are around $39,000 a year. The lowest paid and more entry-level positions are around $27,000. With some of the most well paid medical billers and coders earning up to $54,000 a year.
This career can also be quite flexible. As a medical biller, work from home is an option, all you will need is a high-speed internet connection and the right access. This will suit those who need to be at home more or would like to enjoy increased flexibility.
Many people use this career choice as a stepping stone into something more sophisticated in the field of medicine. A phlebotomy technician is an entry level position which will allow you to experience working with patients. If you aren’t sure whether further medical training is right for you, this could be a great job to give you an idea. Nonetheless, it is a great job in its right.
Before you can be accepted onto a course to train as a phlebotomist, you will need to have a High School Diploma. If you do not have this or an equivalent, you will need to pursue that first. You will also need to be a minimum of 18 years old to enroll in a course.
These courses can cost up to $1,400 in a technical school and up to $700 for an online course. During your course, you may also need to purchase some training equipment, like practice veins.
Once you have started, the course should take any longer than a year for you to complete.
Upon completion of this course, you can begin looking at gaining certification. Phlebotomy certification from the American Society of Phlebotomy Technicians (ABST) can be awarded once the criteria are fulfilled.
You will need to have at least six months as a phlebotomist, have completed accredited training and have a membership with ASBT. Certifications will need to be renewed on a yearly basis at the cost of around $75.
Once you are certified, you are likely to be able to negotiate better pay. The average phlebotomy technician salary is around $32,000 a year.
But it could be more or less depending on your level of skill and where you are working. Phlebotomists almost always work in a clinical environment, so there if no work from home option here!
The job market for medical billers and coders is about to kick off big style. The healthcare industry is finding it hard to fill all of the roles that are coming available.
Due to the healthcare reform, the aging population we have, and new technologies, there are more and more jobs. The switch from an old medical coding and billing system to a new one has a lot to do with the increase in work.
The new system is also much more in-depth, and there are many more codes available to use. This means it will take longer to learn the role in the first place, and more time will need to be spent doing the job as well.
Training to be a medical coder (in comparison to other medical careers), takes a minimal investment of time and money.
It typically takes less than two years to get fully trained and considering that short length of time, the salary is good. Salaries for medical billing and coding range from $27,000 to $54,000. With the average salary for certified medical coder’s being around $39,000. Medical coders working in the top 10% are earning more than $54,000 a year.
Those who learn advanced coding can expect to earn more than those with entry level skills. But, even the wage for an entry level medical biller/coder is not to be sniffed at.
At the moment, you don’t need to have attended any official education for you to apply for certified medical coder jobs. But, you can obtain professional certification that may help you stand out from the crowd and help you negotiate a higher wage.
These training courses help demonstrate you have a high level of skill and knowledge in the area. In the end, you will take a certified medical coder test, which will prove you are up to scratch on anatomy and physiology. The CPC (Certified Professional Coder) is the top certification in this profession and is the industry standard.
Plus, it’s a field that isn’t going to go away in the foreseeable future. People aren’t going to stop needing medical treatment, and it’s going to be a long time before a process like this could ever be automated.
If you are thinking about becoming a medical biller or coder, there couldn’t be a better time to do it. With the demand for medical coders expected to grow by 22% between 2012 and 2022, there are some serious job opportunities to be had.
The more skills you have, the more likely you are to be able to progress in this field. Applying yourself and making sure you gain qualifications where possible, will stand you in the best stead.
When we talk about the work in hospitals, we often imagine an education that lasts more than ten years. For many people, connecting your life with the medical sphere means a long-term studying. At some point, we must admit that it is true.
However, today we are going to speak about the profession that does not require from you a medical education. Nowadays, medical transcriptionists constitute an essential part of a healthcare industry.
Their contribution in this sphere is huge, and you can get a medical transcriptionist job from home.
First of all, we should say that transcriptionist is a specialist, that transcripts the recorded conversations or descriptions to the text.
It follows that a medical transcriptionist works in the hospital to reformat voice reports into the readable format. It is a very punctilious work that requires a high attention to details from the specialist.
To work with the hospitals or clinics, you will need to pass the transcriptionist training. On the one hand, you can search for a similar school in your city to visit it. On the contrary, you may obtain all the needed skills via the medical transcriptionist online courses.
It is up to you to choose what way is more comfortable for you. It may seem not that hard to work as a transcriptionist at some point, but it requires from you a lot of skills. You need an in-depth knowledge of medical terminology.
You should know how the process of treatment goes through. Moreover, the familiarity with the pharmacology is extremely valuable.
For most of the hospitals, it is not significantly required to have a certificate. When working as a transcriptionist, it mostly depends on the context of the report. Therefore, the official confirmation of your education is not that valuable.
What has the most efficiency is your practical skills. That is why spending about one year on completing a training program is so important. Not only you will get the diploma, but that will also increase your chances of getting hired. You will get all the needed skills that concern the spheres you will work with.
The specialists that work in the healthcare industry like medical billers or coders can often hardly be differentiated from transcriptionists. Their duties, however, diverge considerably, so this confusion is wrong.
Nevertheless, their lines of work connect each other often enough. Regarding, that the transcriptionist’s job is to convert records into the text format, biller’s and coder’s jobs may sound familiar to you. Medical coder’s job is to convert the readable medical texts into a code (numeric or alphanumeric).
The created code then passes on to the biller. Medical biller uses the received code, to create a bill for the insurance. These specialists make the financial system of a hospital. Working together, they make patients pay for the treatment and keep track of the bills.
When it comes to the question of a salary, the numbers differ a lot. The amount of earned money varies, depending on several factors. They become even more significant when we talk about a remote work from home.
One of the most meaningful factors is an experience. If you have none, then you will have a tough time obtaining it. You sometimes may even need to work for free.
Those experienced ones, however, can earn an impressive sum of money. A place where you work and whom you are working for affects your salary as well. In most of the hospitals, the transcriptionists, that work at home considered to be paid less. Therefore, if the fact of you working in the hospital or clinic is necessary for your employer, you will need to sacrifice your comfort.
Otherwise, the amount of money that you are paid for your salary will be lowered. The certificate, which we were talking about earlier, may also help you. It is a common thing, for people to lie to their employers, to be hired.
As a result, they may refuse what you are saying if you do not have proper examples of your work experience. This is where the certificate may be useful for you.
Summering it all up, depending on all these factors, the average medical transcriptionist’s salary is about $15 per hour or $18,000 annual. Medical coder and billing salary differ a bit. The annual wage varies between $30,000 and $40,000.
It is not a secret for anyone that specialists, who work in the healthcare sphere should study a lot. Many years can pass before they may start working on their career.
This specificity, however, does not concern all the existing specialties, that are connected with the medical industry. Today we are going to talk about medical coders and billers.
We will have a look at both of the specializations and mention some important facts about them.
First of all, we will answer some questions that you may come up with. What is medical billing and coding? What is the difference between them? Here is a brief description.
Medical coder is a professional, who reformats any text reports to the certain code. He keeps track of the procedure of treatment in the hospitals and then transforms all the needed information. After that, this code goes to the medical biller. With the use of it, he can make the corresponding bills that patients should pay.
These specialties may sometimes seem similar because they work together. When talking about medical billers and medical coders, people often do not separate them. We, on the contrary, are going to have a look on both of them individually. This will help you to choose, which one fits you most.
To begin with, my answer to this question can not be objective. It always depends on a person. Some people may experience difficulties with understanding how the medical coding works.
Others may not be determined enough to study. Anyway, medical coding requires the in-depth knowledge of anything, that concerns a healthcare industry. Knowing of the many medical terms, anatomy, physiology and much more is essential for them.
Unlike other specializations, medical coding does not require from you a long-tern education.
You can visit a technical school or choose a training program on the Internet. Courses can last about two years, but it is possible to make it in one year or less.
At the end of the term that lasts from two to four years, you will get all the required skills. Just like a medical coder, it is necessary to have a medical biller certification, that confirms your capability. Not all the online courses can provide you with it, so you should choose them wisely.
Nowadays, people have the ability to work from anywhere, if they have the needed competence.
Medical billers and coders are not different. If your employer accepts your terms, then it will not make much of a problem for you.
As we mentioned this before, while talking about medical coding and billing, people do not separate them. However, the wages can differ. The average annual medical biller salary is $36,000 [source]. For medical coders, the median annual wage may vary between $34,000 and $57,000.
The healthcare industry is finding it hard to fill all medical billing and coding jobs. The healthcare reform, an aging population, and leading technologies are creating more work.
The medical coding job outlook is looking sunny. The switch from ICD-9 to ICD-10 is behind the increased demand for medical coders and billers.
ICD-9 is the current system used to code diseases, diagnoses, and procedures. The present system is 36 years old and is in dire need of an update (cue ICD-10). The jump from the old system to the new system is huge. In the old system, there are 17,000 different codes used.
In the new system, there are a staggering 140,000 codes available. Upping the number of codes ensures more appropriate and accurate coding of medical details. But, it will mean that productivity will dramatically decrease as everyone learns the new system.
It is anticipated that many coders will retire from their jobs, rather than train on a new system. This means there will be lots of job opportunities in this area of the market.
Along with the reduced productivity anticipated and the new skills required to do the job, this is the perfect time to start a career in this field.
To get a job as a medical coder, you require a post-secondary certificate and a professional certificate. To become a certified medical coder, you need to complete coursework in anatomy, pharmacology, and physiology.
Understanding these fields enables you to code more accurately as you will be able to recognize procedures and diseases. These courses are offered online and can be completed in under a year. They cost between $1,000 and $2,000, meaning they are relatively affordable.
The salary is around $39,000 for a medical coder or medical biller. You can make up your wage by working toward becoming a supervisor, manager or auditor in the field. The hourly rate varies from company to company. It is also dependent on your geographical area, but the average is around $16 per hour.
This job role can also be done remotely and is a great option for those looking to work from home. Entry level remote medical coding jobs offer you the ability to work more flexible hours.
Rather than being a full-time employee, you have options to work as an independent contractor. This further increases flexibility, by allowing you to work as many or as few hours as you would like.
At home, medical billing and coding jobs are becoming more and more numerous on job sites. It has never been easier to work from home in the healthcare field.
There are so many benefits to working from home. Being able to spend more time with your family, reduced care costs for little ones and increased flexibility are some of the main benefits. Also, you will be opening yourself up to increased job opportunities as you won’t be limited to applying for roles in your area.
As a medical coder or medical biller, you will have top knowledge of insurance codes and billing. To fulfill a patient’s insurance claim, each process needs to be given a code. Codes are assigned to procedures and diagnoses and are then entered onto a system.
You are responsible for transferring medical information into code from. This information will be used for record keeping and insurance purposes. You will often need to be in contact with healthcare providers to make sure the proper coding is used.
You will need to have a firm grasp of the anatomy and physiology of the human body so you can recognize diagnoses and transfer them into code. It is common that you will receive certification to prove you have the relevant knowledge to do so.
If you are working somewhere like a physician’s office, hospital or clinic it may be more likely that you would be required to wear scrubs.
If you are going to be seen in a clinical environment, the dress code may be stricter, and it is more likely that you will be required to wear a uniform.
But, most of what a medical coder or biller does is computer or phone based and in an office environment. So, if you are based in an office, out of the way of a medical situation, it is likely your dress code will be more casual.
Many employers of medical coders and billers operate a relatively informal dress code, and no uniform is required.
If course you would need the right access and the right security precautions would need to in place. But, as long as you have access to a high-speed internet connection, working from home as a medical biller is a definite option.
Medical billing and coding from home will increase your flexibility and will enable you to dictate your working hours. There are options to work as an independent contractor, or employed directly by a company. It can be contractual work, full-time work, and part time work.
As with any job, the salary will vary depending on who you work for and where you work. Currently, the average hourly wage is around $16 for a medical biller/coder.
Making the yearly medical coding and billing salary around $39,000. Some wages are a lot higher than this, and some are substantially lower; so, make sure you do your research.