Whether you’re new to medical coding having just started out or a veteran in the field, you’re well aware about the new set of codes that’ll take effect in October 2015. Yes, I’m talking about ICD 10.After much dillydallying; ICD 10 is finally slated to go into effect within the next year. It might seem way too complicated than ICD 9 that’s currently in use; picture this – just the sheer number of codes it comes loaded with is enough to make any coder grimace! But hey, there’s good news too!

The Need for ICD 10

Before we delve any further, here’s why ICD 10 is really important and according to some, the need of the hour. Its predecessor, ICD 9 is severely limited in the number of codes, with no room for new codes. Medical science has discovered a number of new diseases and health conditions which were unknown when ICD 9 came into effect. To accommodate all this mind-boggling information, it’s vital to transition to ICD 10 whose codes convey more information in more specificity pertaining to health conditions.

What’s in it for Medical Coders?

A lot, actually! When physician practices and hospitals switch to ICD 10 coding, there’s a high possibility they’ll face an unexpected shortage of coders trained in ICD 10. This doesn’t bode well for them, because incorrect coding can adversely affect revenue and statistical analyses of health data since coding and billing are an integral component of electronic health record systems.

As a medical coder, this is an excellent opportunity you DON’T want to let go of! This Medscape news article shows just how the introduction of ICD 10 will create plenty of job opportunities for current coders. Medical practices will suffer from productivity issues. There could even be a lot of coders who might not want to get into ICD 10 and all its hassles, and quit. Thus, hospitals and practices will look for medical coders who’re trained in ICD 10. This opens up new doors for coders who’re willing to learn complex codes and advance in their careers.

Opportunities Galore for Medical Coders

• As practices all over the country transition to ICD 10, medical coders who have received ICD 10 training can land a job with higher salaries.
• It’ll be some time before medical practices and their IT departments are fully equipped to handle the gargantuan set of codes ICD 10 brings with it. Trained coders can prove to be a valuable asset to organizations in case of unforeseen challenges which the software system isn’t geared to tackle yet.
• Thirdly, the job outlook for the medical coding fraternity is very promising. According to the Bureau of Labor Statistics, it’s expected to grow by 22% in the coming decade, much faster than average!

You see what upgrading to ICD 10 can do to your careers! And to upgrade yourself, you need to find a school that imparts the right ICD 10 coding and training practices. There are a lot of free resources online which professionals can avail. But nothing beats formal training. Most organizations have chosen to help their employees by providing training to make the transition to ICD 10 easier. For example, CareerStep has corporate training programs that facilitate this transition.

Image source: http://i.ytimg.com/vi/7rDJb1n67uc/0.jpg

I don’t need to underscore the importance of assigning the correct code in a particular medical situation. ICD 10 may seem complicated and confusing, but its overall aim is to provide consistent and accurate information. And now is the time to make the move, to get the training and find out as much as you can about it all, so when the time comes, it’ll be the employer looking out for you, and not the other way round! 

Image source: http://www.medical-billing.com/blog/wp-content/uploads/2014/02/Billing-And-Coding-Sector.jpg