Is There a High Demand for Medical Billers and Coders?
Before the COVID-19 pandemic, the Bureau of Labor and Statistics (BLS) predicted that the healthcare industry would create 29,000 new jobs over the next ten years for medical records and health information specialists, including medical billers and coders.
However, the pandemic has significantly increased the demand for these professionals, alongside the rising demand for healthcare-related services such as nursing exams, nursing research, and nursing assignments.
This heightened demand for healthcare workers has made this an excellent time to consider a career in medical coding and billing. Quick medical coding certification options and a favorable job outlook make medical billing and coding an attractive professional opportunity. Initial certification programs in either field can be completed remotely in as little as four months, offering flexibility for those also pursuing online nursing papers or custom nursing papers for their academic work. Additionally, the demand for remote medical billing jobs has surged, and individuals with medical billing and coding certifications can easily work from home while also managing their own schedules, possibly alongside studying for nursing assignments or other online nursing exams.
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Read on for more information on the medical billing and coding job outlook, the impact of COVID-19 on the profession, and how to start your career in medical billing and coding while balancing nursing essays and other academic requirements.
Medical Billing and Coding Job Outlook and Demand in 2024
According to the BLS, there was an estimated 8% job growth rate for medical billers and coders from 2019 to 2029. As the U.S. population ages and more health records become digitized, healthcare facilities are seeking qualified professionals to organize patient information. Billers and coders, who can process reimbursement claims from insurance companies and manage this information, are in high demand. Medical coding certifications and training help professionals in the field remain competitive and up-to-date on industry changes.
In addition to the growing need for medical coders and billers, the rise in telemedicine has also led to an increase in telemedicine billing opportunities, especially with more healthcare services transitioning to remote care. As a result, many professionals are also balancing nursing papers and nursing research alongside their billing and coding responsibilities, as healthcare careers often intersect with various aspects of the industry, including nursing research and nursing essays.
The medical billing and coding job outlook continues to be positive, especially for those with online medical coding certifications and the ability to work remotely in a digital healthcare environment.
Impact of COVID-19 on Medical Billing and Coding
The pandemic has introduced uncertainty into the medical community, particularly for healthcare professionals involved in both nursing research and medical billing and coding. As noted in an article published by For the Record, “COVID-19 has shut down nearly 30% of the economy, including large segments of the healthcare sector.” Prior to this economic downturn, the BLS identified medical billing and coding as one of the fastest-growing fields, and this trend has accelerated during the pandemic, particularly for those engaged in telemedicine and remote medical billing jobs.
The American Academy of Professional Coders (AAPC) asserts that “The need for healthcare professionals, including health information technician jobs, is at a historic high — and will remain so.” This means that there is more opportunity than ever to enter the field of medical billing and coding, even if you’re simultaneously pursuing online nursing essays, working on custom nursing papers, or preparing for nursing exams.
COVID-19 has also driven technological advancements in an effort to provide services without putting patients at risk. Virtual healthcare visits and telemedicine have become increasingly popular over the last two years. The need for remote billers and coders is expected to rise in proportion to the growing demand for remote care.
As more facilities hire remote workers, the job market may become highly competitive. Employers are not limited to local candidates, and hospitals facing financial challenges might seek more cost-effective labor from overseas. Billers and coders must distinguish themselves in a highly competitive field through ongoing education, training, and certification, as well as keeping their knowledge of ICD-10 codes and HIPAA compliance in billing and coding up to date. This level of expertise will be critical as medical services become more complex and technologically integrated.
How to Become a Certified Medical Biller or Coder: Career Paths and Certifications
Becoming a medical biller or medical coder typically requires a high school diploma or equivalent, though many professionals pursue associate or bachelor’s degrees in health information management. However, for those also working on nursing research or nursing papers, there are certification programs that offer flexibility and can be completed online.
Certification in medical coding and billing is not legally required, but it can greatly increase your job prospects and earning potential. Those with certifications often find themselves in a better position to secure higher-paying positions or remote medical billing jobs.
Here are some of the certifications available for both medical coders and billers:
For Medical Billers:
- Certified Professional Biller (CPB): This certification, offered by the AAPC, allows individuals to work as billers in most medical settings.
- Certified Medical Reimbursement Specialist (CMRS): This credential shows expertise in managing the entire claims process, including insurance reimbursement.
- Certified Medical Billing Specialist (CMBS): This certification is suitable for professionals working in providers’ offices or independent billing centers.
For Medical Coders:
- Certified Personal Coder (CPC): The CPC certification qualifies professionals to work in most medical settings that require general practice coding.
- Certified Outpatient Coder (COC): The COC certification is ideal for those working in outpatient facilities like ambulatory surgical centers.
- Certified Inpatient Coder (CIC): Coders with this certification are knowledgeable in Medicare and inpatient coding systems.
- Certified Risk Adjustment Coder (CRC): CRC-certified coders focus on risk adjustment coding in healthcare systems.
These medical coding certifications help medical coders specialize in areas like outpatient medical coding and medical billing and coding for insurance claims.
Average Salary for Medical Billers and Coders: Factors Affecting Pay
The average salary for a medical biller or coder depends on several factors, including professional experience, education, certifications, and workplace. According to the BLS, the average hourly wage for medical billers and coders is $21.20, which translates to an annual salary of $44,090. However, salaries can vary based on the job environment and expertise, especially for those with knowledge of specialized topics like telemedicine billing or advanced medical billing and coding software.
Professionals who are certified in areas like ICD-10 codes or HIPAA compliance may command higher wages. Additionally, the rise in remote medical billing jobs and telemedicine billing has led to increased flexibility and compensation for remote billers and coders, especially those who can also balance nursing papers, nursing research, or preparing nursing exams from home.
Remote Opportunities for Medical Billers and Coders in the Age of Telemedicine
The growing trend of telemedicine has significantly expanded remote medical billing jobs. With more healthcare services being provided virtually, telemedicine billing has become essential, leading to an increasing number of medical coding jobs from home. This shift towards remote work means that medical coders and billers can work from virtually anywhere, making it an attractive option for those seeking a flexible career.
For nursing students who are balancing nursing assignments, nursing essays, or online nursing exams, remote opportunities in medical billing and coding offer the chance to earn while studying. With the right skills in medical billing and coding software, knowledge of ICD-10 codes, and HIPAA compliance, it’s easier than ever to juggle nursing papers, medical coding, and remote work.
In addition, those interested in a career as a health information technician or in telemedicine billing opportunities can expect to find a variety of career paths available, both remotely and in healthcare facilities.
Working in Medical Billing and Coding
While medical billing and coding are often grouped together due to their many overlapping responsibilities, each role comes with distinct duties.
Medical billers typically:
- Contact insurance companies to obtain authorization for treatment and tests.
- Identify and follow up on unpaid claims.
- Review insurance payments for accuracy.
- Assess patient bills for accuracy.
- Confirm patient eligibility for medications, treatments, procedures, and hospitalizations.
- Prepare, review, and process claims.
- Utilize billing software to submit claims.
- Adhere to all guidelines set by state programs, HMO/PPO, and other organizations.
- Manage patient personal information and maintain confidentiality.
Medical coders often:
- Translate diagnoses, procedures, medical services, and equipment into medical codes.
- Review patient records for accuracy and identify any discrepancies.
- Assign codes for reimbursements.
- Develop and implement procedures that aid documentation, evaluation, and accuracy.
- Convert medical documentation into standardized codes for healthcare facilities and insurance companies.
- Extract data from patient records that document treatments, procedures, and diagnoses.
- Document the correct codes and ensure they are sequenced correctly according to government and insurance regulations.
Work Environment
In 2019, medical billers and coders held approximately 341,600 positions, with the largest percentages working in various environments:
- Hospitals (State, Local, and Private): 37%
- Physician’s Offices: 15%
- Administrative and Support Services: 5%
- Professional, Scientific, and Technical Services: 5%
- Management of Companies and Enterprises: 4%
The AAPC identifies more specific environments where medical billers and coders work, including hospitals and clinical practices, health insurance companies, law firms, and public/government agencies, such as Medicare and Medicaid.
Conclusion
In summary, medical coders and billers are in high demand due to the nation’s aging population, advancements in technology, and the rise of telemedicine. The availability of remote opportunities for medical billers and coders is increasing, and with the right education, training, and certifications, professionals in this field can increase their earning potential. Whether you are considering medical billing jobs from home or working in a hospital setting, medical coding and billing is a growing field with exciting prospects for 2024 and beyond.
Furthermore, the flexibility of these roles makes it easier for individuals to balance their professional lives with pursuing online nursing, working on nursing essays, completing nursing assignments, or studying for nursing exams. The future is bright for both medical coders and nursing professionals, especially those seeking to combine remote work opportunities with their academic goals.
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