Medical billing and coding is a fast-rising industry in the United States. As a former cottage industry, medical billing and coding has risen to become one of the most in-demand sectors of the medical field—with the demand far from hitting plateau in the next couple of years. According to the US Bureau of Labor Statistics (BLS), the employment of medical records and health information technicians—to which medical coders belong—is expected to grow by 21 percent between the year 2010 and 2020. This phenomenon is considered faster than the average for all professions.
The Changing Demand for Medical Biller and Coders
The demand for healthcare professionals—from nurses to transcriptionists—was brought on by an increase in the country’s aging population. Today’s elderly would be requiring more medical treatments and evaluations which could also translate to more insurance claims from private and public entities. Also, with the migration of health records to electronic databases, demand is expected to increase for people who are qualified to work with the health records in these specialized systems.
One has to note however that the job outlook for healthcare information professionals is better for people who have obtained certifications in the field. If you think about it, the value of certifications is quite indispensable in a global corporate environment. Certifications are proof of the extent of people’s expertise and skills based on established standards.
Salary Information for Medical Coders and Billers
Based on BLS data, the median annual salary for medical billers and coders is $32,350 in 2010. The median annual salary is the rate at which half of the surveyed sample earned higher than the given amount. The other half, needless to say, earned less—with the lowest ten percent of the bracket earning $21,240. The highest earners are those who place on the top ten percent of the income bracket, with over $53,430 earnings in a year.
Finding a Medical Billing and Coding Course Provider
While this rosy forecast seem favorable for aspiring healthcare information professionals, people have to consider that training is pivotal in determining the success of one’s career or in upping one’s chances of getting hired. Thus, healthcare information education is imperative if you’re serious about starting a career in the industry. After all, your training is what’s going to distinguish you from the rest of the candidates for your desired medical billing and coding position—whether in a public or state hospital, a physician’s clinic, or nursing care facility.
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