Looking for a career in the healthcare field? It is a good idea because there are many job openings in this sector of the economy but choosing a specific job in the health sector is the hard. You should try medical billing and coding. Specialists in medical billing can work in clinics, hospitals or insurance companies among other health related facilities. This means that you can easily move from one medical institution to another when the need arises. Here are some things you should know about medical billing and coding.
What a Medical Billing and Coding Specialist Does
You should know what a billing specialist does before you decide to pursue this career. For example, being a billing specialist would involve the processing of treatment records for patients as well as the processing of corresponding insurance claims on those treatments. This means that you would have to handle and track multiple patient accounts at the same time. Accuracy, confidentiality and diligence are important in this line of work because handling information on treatments received by patients is highly sensitive. Finally, you should be good at typing and memorizing numbers because medical billing involves a lot of coding.
Remuneration and Career Advancement
Working as a billing specialist is rewarding because you become the bridge that connects insurance companies and patients. This work is also rewarding because of the remunerations received. Specialists in medical billing can earn as much as $53,000 on an annual basis while the lowest amount you can receive as a billing specialist is $22,000 per year. On average, a billing specialist earns $32,350 each year. This average is $8,288 higher than the national median income for people aged eighteen years and above. It is also important for you to note that many billing specialists become billing administrators, office managers or supervisors after a bit of hard work and dedication.
Necessary Skills and Certifications
Billing specialists working should be ethical in their work because they deal with highly sensitive information. They also need strong communication skills to deal with irate patients who do not understand the billing process. Certifications are not mandatory but you should become certified because potential employers are not keen on hiring people who do not possess them. A Certified Medical Reimbursement Specialist (CMRS) certification is the only certificate you need and training for it takes nine to twelve months only. This training includes coursework on computer database management, medical terminology, insurance procedures, billing procedures and coding procedures.
Education and Job Opportunities
A minimum of an associate degree from a recognized community college is necessary for a career in medical billing and coding. The recommended coursework for you is computer science, chemistry, biology and mathematics. On-the-job training is likely for those who secure employment. You should also take note of the fact that economic experts anticipate a twenty-one percent job growth rate in this job group. This means that your chances of securing a job as a billing specialist are high. Remember, you should learn as much as you can about billing standards within our healthcare system before you go for an interview.