Medical Billing And Coding Jobs

With increasing numbers of treatments and medical tests, more elderly individuals require increasingly available comprehensive medical care than in previous years. Currently, over 78 million American adults are baby boomers. Many of the aging population are also retiring from their positions which will create even greater job opportunities in many industries. As new tests and procedures are rapidly developed, there is a growing need for further developed coding and billing systems to be used. With an increasing number of Americans needing access to comprehensive healthcare, and significant mandatory changes in national healthcare regulations, more Medical Billing and Coding jobs are needing to be filled by knowledgeable and certified workers than ever before.

Healthcare is the largest industry that hires Medical Billing and Coding Clerks with about 35% of all Billing and Coding Clerks in the U.S. working in this large industry. Many doctors’ offices, hospitals, insurance companies, federal agencies, and other international organizations employ these clerks. About one-third of Medical Billers and Coders decide to work at home because many physicians’ offices choose to outsource their billing needs. However, two-thirds of all Medical Billing and Coding Clerks still work in medical facilities and offices. 40% of Coders work less than 40 hours a week while 60% continue to work 40 or more hours.

Medical Billers and Coders are also commonly referred to as Health Information Technicians (HITs). Employment is expected to grow faster than average for this field, and technicians with a strong background in medical coding and billing are expected to be in high demand. Many of these workers need an associate degree from junior or community colleges. In order to achieve advancement in this field, many technicians choose to specialize or are promoted into management positions. Registered Health Information Technicians (RHITs) are individuals who have chosen to get professional credentialing after completion of accredited schools and can make upwards from $60,000 annually, according to CBS News. In 2007, 2 out of 5 jobs were in hospital settings with the rest being in outpatient care clinics, home health care services, nursing care facilities, and physicians’ offices. Insurance companies and Public Health agencies also commonly hire Health Information Technicians.

By 2014, President Obama’s healthcare reform requires that the healthcare industry switch to digitalized medical billing and coding. Switching from the current coding system to ICD-10, a system based on the World Health Organization’s developed system in 1977, increases the current system of 17,000 codes to over 150,000 codes. This much improved system will allow for more comprehensive record keeping of patients’ confidential medical records and improved accurate payment from government and health insurance agencies. Furthermore, this change will create an increase in the number of Medical Billers and Coders that need to be educated in the new system as well as create more jobs in this field while the healthcare industry brings outdated codes into the current century. Many physicians’ offices are expected to hire many outside workers to assist in this digital transition.

In 2008, according to the American Academy of Professional Coders (AAPC), 64% of Medical Coders still code from paper medical records and 25% of Coders continue to code from paper billing forms. Currently, about 10% of all Coders code from electronic health records since only about 13% of all physicians’ offices nationally have an electronic health record system. The number of offices that will be using computerized systems is going to increase as the healthcare industry strives to conform to new healthcare regulations. Because of this, many physicians are going to be overwhelmed in converting medical records and will require more Medical Billers and Coders that are already trained in the new coding system.

Most non-credentialed Medical Billing and Coding Clerks earn a salary range from $16,000 to $39,000 with the average income being $36,500 in the United States. Credentialed Medical Billers and Coders earn an average range of salary from $39,400 to $46,500. 18% of Medical Coders have a bachelor’s degree or higher education while 69% of Medical Coders have attended some college in order to be better qualified for this ever changing industry. Three percent of Coders currently have specialty certificates that further allow for higher salaries.

By completing a medical billing and coding degree or certificate, many job seekers will improve their chances of attaining a medical billing and coding job. Prospective employers often require that their candidates have completed several college courses including medical terminology, biology, and anatomy and physiology in addition to computerized medical billing classes. Many offices also offer on the job training to train the Medical Biller on the specific software that is used. Attaining professional credentials can further assist many Medical Billers to receive higher pay in this field as well as demonstrating professionalism and knowledge of the Health Insurance Portability and Accountability Act (HIPAA) regulations.