A medical billing career is an excellent opportunity for anyone who wants to work in the health care industry. Medical billing professionals may perform a variety of tasks as part of their job description. These tasks may include organizing and overseeing the medical facility’s billing process, auditing the financial process, and coding bills with specialized codes for insurance agencies. For most entry level billing professionals, the most substantial part of the job will include communicating with health care insurance agencies, including Medicaid and Medicare.
When a patient enters into a doctor’s office or a hospital, the medical billing specialist writes reports to that patient’s insurance company. The report details the medical issue the patient was seen for and the subsequent care that the patient received. The medical billing specialist remains in communication with the insurance company until the insurance company completely pays the doctor or hospital the patient’s insurance coverage.
This field has seen radical growth over the last few years. The Bureau of Labor Statistics reports that the field of medical billing will see a more substantial growth rate than the rest of the medical industry over the next decade. This is compounded by the fact that medical care will most likely skyrocket in demand with the aging US population. The medical industry is in desperate need for medical billers in order to facilitate the industry.
Anyone can begin a great career in this field, but some schooling is often preferred. There are many educational institutions that offer training programs for students so that they can become proficient in the medical billing process. Schools such as community colleges also have full degree programs that allow a person to train for a medical billing career and earn a full degree.
Medical billing is often grouped with the field of medical coding. Anyone pursuing a medical billing career should consider the fact that it may be helpful to have some knowledge of medical coding in order to enter the field. Coding is the special language facilitated by certain professional medical bodies. This language interprets all the important data of the patient into the medical claim report. The insurance company receives this document, deciphers the medical coding data, and then has all the necessary information to either reimburse the office or communicate further with the office. Medical coding does require specialized training. However, many learning institutions will provide courses on medical coding as part of a billing training program.
Aside from schooling, medical billers can also improve their resumes by becoming certified. Certification usually comes after an individual takes an exam that is facilitated by a reputable medical billing association. A few certifications have specific requirements that necessitate a certain level of schooling, such as earning an associate degree. Although certification is not necessary, being certified shows potential employees that a person has a high level of professionalism behind them.
The annual wages of these specialists ranges depending on what type of medical farm the individual could be employed in. The median wage, as reported by the same Bureau of Labor Statistics report, states that a medical biller makes around $30,000. However, the top 10 percent of earners within this field can make over $50,000 a year. With a strong chance of employment and a higher than average salary, it’s not surprising that medical billing has become one of the most sought after careers in the field of health care.