Further increase in terms of job outlook is expected in the sector of Medical Coding with demand for professionals expected to increase by 18% considering the increased shift from paper to data storage in patient documentation and increased shortage of qualified professionals with specialized skill-sets.
According to the U.S. Department of Labor continued job growth for medical coders and billers is stimulated due to the increased medical need of geriatric population and the number of health practitioners. Moreover the Occupational Outlook Handbook states that earnings vary widely and pay levels are ascertained mainly as per experience and qualifications, hence various medical coders are opting for certifications in varied specializations to make the most of the growth in this sector.
Medical Coders rational in getting certified: Opportunities through certification
A national study of workers in their mid-30’s illustrated that 43% of license and certificate holders earned more than associate’s degree graduates, moreover as many employers prefer to hire candidates with certification, earning a medical billing and coding certification gives the coder an added competitive edge in the job market. On gaining experience in this field pursuing medical billing and coding certification in a particular specialty—beyond just basic certification— can immensely help in capturing the growth in this industry. In general, average salary for a medical billing and coding professionals is anywhere between $38,000 and $50,000 per year, while the ones at the top of their pay scale can earn more than $74,000.
A recent survey by American Hospital Association depicts that nearly 18% of billing and coding positions remain vacant due to a lack of qualified candidates, with most physician practices in preference of hiring well qualified medical billers and coders – certified in their field, to as far as possible avoid legal ramifications of incorrect billing. Also various medical coders working independently from home at times need to get additional licenses and certification.
In the scenario where Insurance companies and government are putting more emphasis in researching and controlling claims’ fraud, abusive practices, and medical necessity issues, has led to an increase in hiring by related healthcare entities. Being a challenging, attractive career with growing opportunities – where compensation is as per level of skills, individuals seeking a career in medical administration are well advised to opt for medical billing and coding with the entry-level pay being higher than that of comparative health care professionals in the field.
Medicialbillersandcoders.com equipped with experienced Billers and Coders well-versed with HIPAA, ICD-9-CM, ICD-10 –CM, CPT/HCPCS, DSM-IV, and ICPM, gives coders a platform to excel in their domain. Our coders are constantly training and updating themselves as per the industry requirements, striving to make the most and assist in the evolving healthcare industry effort in improving patient care.
Medical coding and billing salary range is wide, with a low percentage of employees in this medical field expecting to see a salary of $31,000 per year while another percentage expecting to see a salary range as high as $48,000 per year. However the average salary for a medical coder and biller as stated earlier is expected to get a higher scope in upcoming years, nevertheless eventually only the medical biller and coder can determine their earnings depending on variables they adopt. Medicialbillersandcoders.com providing updated knowledge, placement opportunities and analyzing current salary trends has been serving physicians for more than a decade and offers medical billers and coders an avenue to get connected with these doctors and can register with us for future job prospects. (Link to register for jobs)