10 Reasons to Start a Career in Medical Billing and Coding
The need for medical billing and coding experts is still high. Jobs in this field come with various advantages, like the flexibility to choose where you work and the chance to advance your career.
Even before the pandemic, people in medical billing and coding experienced both the benefits and challenges of working from home.
Besides the freedom to work remotely, entering the field can lead to a decent income and the opportunity to positively impact patients’ lives.
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If you’re thinking about a career in medical billing and coding, the reasons discussed here can help you determine if it’s the right choice for you.
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Reasons Why Starting a Career in Medical Billing and Coding Makes Sense
The field of medical billing and coding offers a range of benefits and opportunities, making it a compelling choice for those looking to enter this profession. Below, we outline eight reasons to consider pursuing a career in medical billing and coding.
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High Demand for Medical Billers and Coders
Despite challenges posed by the COVID-19 pandemic, the demand for medical billers and coders remains strong. The Bureau of Labor Statistics (BLS) projects a 9% growth in the field of medical records and health information specialists, including medical billers and coders, between 2019 and 2029. This translates to an estimated addition of about 34,300 jobs each year. The field continues to expand, with no foreseeable slowdown. After a dip in patient volumes during the pandemic, the need for coders has rebounded significantly.
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Quick Entry into the Profession
Becoming a medical biller and coder doesn’t require an extensive educational commitment. Depending on your chosen path, it can take anywhere from one to four years to acquire the necessary knowledge and skills. You can start with a GED or high school diploma, followed by a one-year certificate program or a two-year associate’s degree. For those seeking a bachelor’s degree, it typically takes around four years. Professional organizations like AAPC offer online medical billing and coding courses that can be completed in 8-12 months.
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Potential for Higher Earnings with Certification
While certification is not always mandatory, it significantly impacts earning potential. Certified coders earn 39% more than non-certified colleagues. On average, medical coders make around $53,051 per year, while certified coders earn an average of $57,646, compared to $41,543 for non-certified coders. AAPC credentials can open doors to specialized fields within medical billing and coding, such as anesthesia, cardiology, dermatology, and pediatrics.
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Opportunities for Career Advancement
Earning multiple credentials can empower you to negotiate higher salaries. Medical billing and coding professionals with two credentials earn an average of $63,085, and those with three or more credentials make an average of $68,589 annually, according to the AAPC’s 2020 Healthcare Salary Survey. Top-earning credentials include Certified Professional Coder instructors, certified professional compliance officers, and certified documentation expert outpatient specialists, with average salaries ranging from $70,535 to $77,186.
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Lifelong Learning Opportunities
Medical billing and coding professionals continuously expand their knowledge and skills through ongoing education and training. Specialized credential exams test coders on specific coding and reimbursement tasks, ensuring they understand niche medical terminology and procedures. Various organizations offer webinars, training, and resources for obtaining required continuing education credits to maintain certification. As the medical field evolves, professionals must stay updated with changes to the International Classification of Diseases system.
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Versatile Work Settings
The demand for remote medical billing and coding professionals remains high. According to the Health Information Management Professional Census of 2020, approximately 72% of these specialists work in hospitals or health systems, with over half working remotely. Opportunities also exist in physician offices, educational services, the federal government, and professional, scientific, and technical services. Travel medical coders are needed for temporary assignments in hospitals, physician’s offices, and insurance providers.
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Flexible Scheduling
Many medical billers and coders enjoy the freedom of setting their own work schedules. Remote work assignments often involve working on deadlines, providing professionals the flexibility to manage their time. Employers in this field create work environments designed to minimize distractions, as these positions require great attention to detail and accuracy.
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Contributing to Quality Patient Care
Medical billers and coders play a crucial role in the healthcare industry. They ensure that medical services are billed and paid correctly, directly impacting a patient’s access to future healthcare services and treatments. Their work is essential in maintaining the smooth operation of healthcare facilities, especially during challenging times, like the COVID-19 pandemic.
Conclusion
In summary, a career in medical billing and coding offers stability, potential for career growth, and the opportunity to make a difference in the healthcare industry. With the rising demand for medical billing jobs and medical coding jobs, it’s a promising choice for those considering this profession
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