Career in health care industry has rarely been unsecure. While professionals in other sectors have had to undergo turbulent times recently, people in this priority sector have maintained steady progress despite economic reversals. And there are reasons to it: first, health care is indispensable; more significantly, it is supported by world’s largest public insurance schemes – Medicare and Medicaid; and the contribution of private insurance players is also noteworthy. This remarkable story of sustenance and growth does not end here. With the Federal Government extending public health insurance to every American, care providers, support staff, payers, and everyone related directly or indirectly to health care will have their future protected.
Amongst those who have been benefited most by the string of recent health care reforms are medical billing and coding professionals. While these reforms have made clinical documentation and operational management more complex for providers, they have opened up myriad of career opportunities for medical billers and coders. Providers now consider it impossible to manage mandatory EHR compliance and ICD-10 transition without the intervention of external billing and coding consultants. With so much of reliance, it is only fair to say that profession in medical billing and coding offers the most of the health care’s security.
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Unlike most medical jobs, the profession in medical billing and coding is easy to start off. Any graduate can aspire to become one. Financially too it is less burdensome – qualification can be achieved with as less as $2,600. Aspirants can enroll themselves with Federal Government approved institutes for a formal certification program in medical billing and coding. With a few years of on-field experience, they can expect to be approached by leading hospitals, clinics, and physician practices.
Medical coding and billing is equally rewarding too – an entry-level salary is $35, 920, which can rise to $58,150 with a few years of experience. As for the opportunities and growth, medical billing and coding is expected to register 21% growth between 2010 and 2020, which is an unprecedented record.
Judging by the exponential growth in health care spending, providers’ shift to outsourced billing and coding operations, and an increasingly stringent multi-payer reimbursement environment, medical billers and coders’ significance will only increase further. According to the World Health Organization (WHO), total health care spending in the U.S. is the highest in the world. With the Health and Human Services (HHS) Department expecting the health share of GDP to be at a historical high of 19.5% by 2017, medical billers and coders will be greatly required to mediate providers’ RCM process with payers.
With so much of growth potential around, aspiring professionals should be eying on their share of apple pie. Medicalbillersandcoders.com – which has been a leading launching platform for careers in medical billing and coding – hopes to complement aspirants’ efforts with learning and employment resources. The fact that it mediates the majority of provider-biller engagements is ample testimony of its credentials.