Billers and Coders Digest
News, Views and more....

Tuesday May 28, 2014 | Edition 2.10
A monthly update on Billing and Coding Information
In a diminishing market, coding seems to be a way out!

Affordable Care Act has increased work pressure for physicians but it has also created various new job opportunities for medical coders. As millions of new patients will be entering the US healthcare industry this year, practices will be needing skilled coders to sail through billing challenges and ensure timely payments for rendered services. With the rise in demand, medical coding has turned into one of the fastest growing professions in the country.


Industry facts:
Approximately 40 million new patients will be entering the US healthcare market due to Affordable Care Act and this will increase the need for coding millions of new charts every year
With the implementation of ICD-10, it will take approximately 30 minutes for a coder to code an inpatient chart
It has been estimated by the US Bureau of Labor Statistics that employment for coders will be growing faster than average, increasing by 16% by 2016
Why practices are in dire need of skilled coders?

In last few years, medical billing and coding has become extremely complex due to new changes and regulations such as: ICD-9-CM will be getting replaced by ICD-10 in 2015. Read More
How can Coders Prepare themselves for Challenges Post ICD-10?
Hospitals and healthcare providers are facing increased changes in coding regulations. They are looking for well-trained coding and billing staff to maximize revenue and ensure readiness for ICD-10. This has broadened the job scope for coders and billers ... Read More
News Feed
1
Medical billing and coding jobs are expected to increase 21% by 2020.This will be double the average growth for all jobs in the United States over next ten years.
2 There's already a nationwide shortage of medical coders and with the transition to ICD-10 shortage of professionals is expected to increase to at least 53%
CMS Updates
1 Eligible Professionals Must Start Medicare EHR Participation in 2014 to Earn Incentives Read More
2 CMS Issues Proposed Hospital Inpatient Payment Regulation        Read More
How to enter the job market as a coder?
  • Coders are just required to have an Associate’s degree to enter this industry; however, extensive training will offer a better job opportunity
  • By taking up a Bachelor’s degree, coders can move up in their career as an information director. Various online colleges and universities offer online degree programs for coders
  • It helps to have a strong knowledge of anatomy, biology, medical terminology and physiology
  • The American Health Information Management Association (AHIMA) and the American and the American Academy of Professional Coders (AAPC) also offer online certificate programs for coders
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