Is medical billing and coding in demand? This is probably one of the most commonly asked questions about medical billing and coding to date. Due to the many difficulties our economy has been facing these days, most people’s financial status leave much to be desired. Those who could survive earning a minimum wage before are having problems surviving now and must adapt by either taking on another job or looking for a better paying job. One of the options that people are considering as a good source of income is medical billing and coding. For those who are clueless about medical billing and coding, they are the main components of what we term as the electronic billing process. They are integral to electronic billing.
Medical billing deals with submitting claims to health insurance companies for payment of services rendered by the health care provider to patients who are insured under these insurance companies. It also requires one to keep on following up on the claim until it is approved, and they must take care of seeing to it that it is approved. Medical billers deal with different people on a daily basis because of the nature of their job so good interpersonal skills and a pleasing personality are a must for them.
Meanwhile, medical coders are focused on changing the services rendered descriptions into their corresponding codes as provided for or indicated by the health insurance companies. This is a difficult job considering that different health care providers have different ways of describing their services, it is the coders job to give it the appropriate code. If the medical coders fail to assign the appropriate code or make a mistake there is a chance that the claim will be rejected, that is how important their role is in the billing process.
Is medical billing and coding in demand?
Yes, it is in demand because more and more health care providers have found it to be the more efficient and effective way to deal with patient’s bills and health insurance claims, as opposed to the more traditional method which was not only time-consuming but tedious too. Since it came to be, a lot of people have converted to it and disposed of the old method of dealing with these things. Clients have also found that their claims are acted upon faster than before which is good news for them.
Why is medical billing and coding in demand?
As mentioned previously, medical billing and coding is in demand because the institutions that use the electronic billing process has risen as well, thus, there are a lot of job openings for medical billers and coders. Finally, it is in demand because the salary you get from working as a medical billing and coding specialist is quite satisfactory when compared to more strenuous and stressful jobs that pay so little.
How much does a medical billing and coding specialist earn?
A medical billing and coding specialist salary depends on their work experience, the company they are working for and the location of their job. Longer experience in medical billing and coding, working in a big company and working in big cities will necessitate higher compensation. But to give a rough estimate, a medical billing and coding job will annually yield around $35,000-$44,000. The least you would earn in a year as a medical billing and coding specialist is more or less $32,000 and the most you could earn yearly is $48,000, give or take.