Medical Coding & Billing Job Market

Medical Coding and Billing Job Duties

Medical billing and coding jobs consist of managing patients’ electronic health records. It’s critical work considering that every patient is someone’s mother, husband, child, or other precious family member. As part of your daily responsibilities, you’ll assign standardized codes to the procedures performed by the healthcare facility you work for. Sounds relatively straightforward, but this is the first step in helping patients get their medical bills covered, so they have one less thing to worry about.

All medical facilities need a medical coding and billing specialist because these professionals are the bridge between insurance and patient invoices.  A doctor or office manager could perform this type of job. However, patient care is their sole focus, so hiring an expert to do this is ideal.

What does it mean to be a bridge between the medical office and insurance?

A medical coding and billing expert helps health systems manage insurance claims, invoices, and payments. Other responsibilities might vary, but the typical medical coding and billing work environment would include performing the following duties:

• Making preparations and sending out invoices or claims for payment
• Handling coding for services, procedures, diagnoses, and treatments
• Making corrections to rejected claims
• Tracking payments
• Following up and keeping in contact with patients and insurance companies about outstanding bills

Medical Coding and Billing Work Environment

As you progress in your medical billing and coding career, you could work in almost every type of healthcare facility: large hospitals, health clinics, small physician offices, coding outsourcing companies, and other healthcare businesses. It’s also possible to find medical coding and billing remote jobs online that allow you to work from home.

Medical coding and billing are technically two distinct jobs. However, it’s common for offices to hire someone who does both because they are so intertwined. The most important part of performing medical coding and billing job duties is to make sure there are no coding or billing errors so that payments are collected in a timely manner.

So, what are some basic requirements to land the job? Here’s a brief overview:

• Familiarity with medical terminology
• Basic math skills
• Computer skills
• Communication skills
• Knowledge of basic office equipment

Pay Scale

Salaries vary by employer, location, and experience, but according to the Bureau of Labor Statistics, a skilled medical billing and coding specialist earns an average of $50,250 per year.*

Plus, considering the nature of the industry, medical jobs often include healthcare benefits.

Industry Demand

The Bureau of Labor Statistics estimates 9% employment growth over the next 10 years.*

If you’re interested in starting a career in healthcare, becoming a Medical Coding and Billing Professional can be a great path that offers flexibility and room for advancement!