What is Medical Billing and Coding?

A medical billing professional is responsible for billing insurance companies and patients for medical procedures and doctors visits in hospitals and medical offices. Medical Coding uses computer databases in order to best keep track of patient information and procedure types. Medical Billing and Coding can be a full or part time career. These positions are essential and will become even more important as the stimulus creates a nationwide computerized medical records program. A typical medical billing and coding professional will be involved in performing insurance verification and pre-authorization, registering patient information, posting and preparing charge tickets and transactions, billing and coding insurance claims, and collecting insurance and patient payments.

Various medical careers relating to manufacturing, administrative and management fields of medicine are opening new avenues of challenging career growth and great earning potentials. With increasing demands in US healthcare documentation, graduates of various medical professions have ventured in careers relating to Revenue Cycle Management (RCM) which includes Medical Transcription, Medical Coding, Medical Billing and Claims Management.

A professional coder is expected to have sufficient knowledge on the frequent use of alpha-numeric codes to record specific illnesses, injuries, and medical procedures. This process of assigning codes is usually done under the system of a particular rule of coding that is universally used around the world, from doctors’ offices and hospitals to insurance companies and federal agencies.

These codes are greatly utilized by the hospitals, nursing homes, labs and doctors for internal data collection and other planning objectives. On the other hand, various insurance companies and public agencies concerned with the health care system require the professionals who have a sound knowledge in those medical codes to reimburse healthcare providers. These codes are even used by international health organizations to archive the record of any new type of disease and they supply the information to the health care which will predispose to take measures to prevent the diseases.

Employment

Medical records and health information technicians held about 172,500 jobs in 2008. About 39 percent of jobs were in hospitals. Health information technicians work at a number of healthcare providers such as offices of physicians, nursing care facilities, outpatient care centers, and home healthcare services. Technicians also may be employed outside of healthcare facilities, such as in Federal Government agencies.

Job Outlook

Employment is expected to grow much faster than the average. Job prospects should be very good; technicians with a strong understanding of technology and computer software will be in particularly high demand.

Employment change. Employment of medical records and health information technicians is expected to increase by 20 percent, much faster than the average for all occupations through 2018. Employment growth will result from the increase in the number of medical tests, treatments, and procedures that will be performed. As the population continues to age, the occurrence of health-related problems will increase. Cancer registrars should experience job growth as the incidence of cancer increases from an aging population.

In addition, with the increasing use of electronic health records, more technicians will be needed to complete the new responsibilities associated with electronic data management.

Job prospects. Job prospects should be very good. In addition to job growth, numerous openings will result from the need to replace medical record and health information technicians who retire or leave the occupation permanently. Technicians that demonstrate a strong understanding of technology and computer software will be in particularly high demand.

Growth & Change in Medical Billing and Coding Careers

The whole medical billing and coding career field is growing much faster than the average, according to the U.S. Bureau of Labor Statistics. Salary.com reports built from HR data in November, 2008 indicate that the middle 50 percent of medical billers and coders earn between $35,999 and $44,562. Medical coders and billers in large organizations such as nursing care facilities and hospitals earned slightly more than those employed by physicians.

McNeil anticipates continued growth and change for medical billing and coding careers. "It's growing very fast. Some codes change every year, and soon they'll upgrade all of the diagnosis codes. It takes work to keep up with what's current. Our organization (AAPA) provides newsletters, training, networking and meetings." She also notes changes in the medical coding work force. "A lot of women work in the field, but I see men breaking into it more."


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