In this update, we will be looking into:
-
How the ensuing ICD-10 Transition is going to impact medical billing and coding job market
-
How it is going to unleash professional opportunities across the medical billing and coding continuum
-
And, how diverse can the medical billing and coding profession be
In this update, we will be looking into:
-
How the ensuing ICD-10 Transition is going to impact medical billing and coding job market
-
How it is going to unleash professional opportunities across the medical billing and coding continuum
-
And, how diverse can the medical billing and coding profession be
“Opportunities created through ICD-10”
ICD-10 is going to be a gateway of professional opportunities in medical billing and coding along with an increased demand from the health insurance companies for professionals that can effectively meet their ICD-10 compliant insurance processes.
Evolving prospects post ICD-10:
We all know that the ICD-10 implementation on October 1, 2013 will change everything from the way health care provider’s document services to the way codes are selected, reported, and reimbursed, however it will be coders who will play a vital role to achieving success in ICD-10 implementation. AAPC’s vice president of ICD-10 education stated that with the expected advantages of electronic health records (EHRs) aside, all eyes will turn to coders to make sense of ICD-10-CM and ICD-10-PCS.
Such a radical shift in clinical and operational reporting will entail comprehensive make-over to the existing clinical and operational practices. While we all know that the physician community is willing to invest in the best practices that support ICD-10 and HIPAA 5010 mandate, yet it is unlikely that they will be able to accomplish the monumental ICD-10 and HIPAA 5010 compliance standards all by themselves.
More than complying with ICD-10 mandate, it is their revenues from medical reimbursements that will get affected without ICD-10 compliant medical billing and coding practices. Consequently, there is going to be a complete shift in favor of qualified and competent (in ICD-10 and HIPAA 5010 compliant medical billing and coding practices) medical billing specialists. Therefore, there is going to be an array of opportunities for medical billers and coders.
Contrary to the known line of opportunities with physician practices, ICD-10, with the ability to impact the healthcare industry as a whole, is also going to throw open diverse professional opportunities with multiple stakeholders in the healthcare industry, such as:
-
Spurt of opportunities with payers, who would be willing to engage billers and coders for auditing, scrutinizing, and monitoring physicians’ reimbursement claims
|
-
Job opportunities with medical billing companies will go up as the trend in outsourcing also increases. With companies keen on engaging more billers and coders for processing their clients’ medical billing, the coder’s scope & role of work will also increase in hierarchy providing them varied opportunities in managerial roles
|
-
More and more healthcare and coding professionals will require ICD-10 training and may need training pre & post ICD-10 to remain constantly upgraded. ICD-10 professionals with an inclination towards training avail of the various training jobs available and can create a niche for themselves in ICD-10 training
|
-
Opportunities with EMR companies who want to make their systems ICD-10 compatible and are looking to hire individuals for obtaining solutions in areas like up gradation of their systems, bug related queries, etc
|
-
Individuals with higher skills and vast experience can become medical billing & coding consultants and create awareness around frequently erroneous billing patterns
|
-
Hospitals are expanding coding & HIM departments as their requirements increase, leading to a growth in opportunities for medical billers and coders with Hospitals
|
Therefore, differing to the original belief of ICD-10 being the source of numerous challenges, it also promises to be an originator of professional opportunities, particularly for medical billing and coding professionals.
While you embark on a journey to realize various career options under ICD-10, you can also rest-assured of timely guidance from Medicalbillersandcoders.com, who have set up this unique knowledge-sharing and enhancing training program for all those who are going to be impacted by ICD-10 transition. Our Training Module – interspersed with webinars, forums, and online learning materials – would prove to be indispensable to your being ICD-10 compliant medical billing and coding professionals.
Watch out for our next update: Healthcare fraud reduced through ICD-10?