April 05, 2016
As government regulations become more complex and population continues to age, demand for certified and experienced medical billers and coders is expected to increase. According to the industry experts, it is a great time to become a medical biller or coder because the market for coding and billing is already strained and increased demand is driving up salaries.
According to the projections made by US Bureau of Labor Statistics, the medical billing and coding field will experience a 22% increase in number of jobs through the year 2022
According to the AAPC (American Academy of Professional Coders), compared to the 7.4% national, unemployment rate of coders is only 1.7%
According to the 2016-2017 Occupational Outlook Handbook released by the US Bureau of Labor and Statistics, billing and coding, medical records and health information technician jobs are expected to increase faster than the average for all occupations.
Job prospects for medical billers and coders will be on the brighter side in the coming years. There will be more jobs with high salaries as claims submission with ICD-10 codes demands accurate coding and billing. Medical coders and billers will have better employment opportunities; however, they need to have the required certifications and experience.
Medical billers and coders will have a stronger role in supporting the US healthcare system. From saving money and improving patient care to increasing the efficiency of the system, there is a lot that coders and billers will be expected to do.
Apart from ICD-10, aging population in America is also a reason why demand for skilled coders and billers has gone up. Growth in aging population means increased need for healthcare services because old people need more medical testing and treatment. Private practices, hospitals, nursing facilities, home care services and outpatient facilities will need more billers and coders to process patient records, bills and payments.
Implementation of the ICD-10 has contributed to the growth in demand. Since the complexities of using the new code set is creeping into the medical profession, many physicians are either hiring experienced coders and billers or outsourcing their billing need to a third party.
Practices Relying on MBC's Billing and Coding Expertise
Many private practices and hospitals are choosing to outsource their billing and coding needs to MBC. As one of the leading providers of top-notch billing and RCM solutions, MBC boasts of a team of certified and experienced coding and billing professionals that serves 42 specialties across the country. By choosing to outsource, providers are eliminating the need to hire, retain and manage an in-house billing team.
Besides offering billing and RCM solutions to healthcare providers, MBC also has a job board that can be used by coders and biller to find attractive job opportunities with a hospital or private practice. They can also access the newsletter and industry updates that are posted by experts at MBC. If a coder is interested in learning the tools, technology and other requirements, MBC also offers an ICD-10 training guide.