Let us examine medical insurance billing and coding training and career opportunities. Professionals who specialize in this relatively new area enjoy working with other health care professionals and computer technology. Medical Insurance Billing and Coding careers are relatively new in the healthcare industry. The position has continued to grow since the 1980s’ as more insurance companies and healthcare providers have incorporated the use of electronic health records into their practice. A MIBC professional does not usually interact with patients, but does play a vital role in the running of a medical office.
Medical Insurance Billing and Coding Education and Training
While there is no required certification or degree required for an individual to enter this field, employers look for individuals who are certified or have a degree in this field. The certification or degree program will last from 1-2 years and there are several schools that provide programs specifically designed to prepare an individual to enter the field.
Among the courses in a medical insurance billing and coding training program that an individual will need to complete to enter the MIBC field are Medical Terminology, Anatomy, Physiology, Medical Coding Practices and Software Applications. The person who has a greater degree of knowledge in technology and computer software will have a greater advantage when pursuing a career in the MIBC field.
Medical Insurance Billing and Coding Careers
There are several organizations that provide certification programs for medical billing and coding professionals. When you are considering joining an organization, it will be important to review it’s history and the benefits that you will be afforded as a member. Upon completion of the certification program, you will have validation of your skills and abilities. Individuals who pursue this training can focus their degree in this area and receive an AA in Medical Insurance Billing and Coding.
The MIBC professional is vital in assuring that the medical professionals or center receives payment from insurance providers for procedures or diagnoses that are provided to patients. They prepare, organize and analyze the records of patients and make sure they are complete and accurate in accordance with the insurance industry guidelines.
The professional must be able to understand patient’s records and the terminology associated with procedures and diagnoses. They assign the proper code to the item and enter the information on the software required by the insurance provider. They must also know the proper coding rules and restrictions that apply to the diagnoses they are coding.
The fact that a physician, health care facility, or medical center must submit proper forms and coding in order to be paid gives more job security that is found with many other jobs. This career affects every type of healthcare organization including dental and medical care providers and ambulance services.
Estimated Income and Projected Career Outlook
The annual salary of the professional averages $20,000 – $50,000 annually and pays between $10.17 – $20.00 per hour. The salary and benefits provided by employers depends on the type of certification or degree that an individual has, their years of experience in the field, and their knowledge of technology and computer software that is used for coding and billing.
This profession is growing faster than many others in the healthcare industry because more providers are turning to electronic health records and billing. Therefore, it is anticipated that the Medical Insurance Billing and Coding career field will grow by 20% by 2018, with increased focus on computer technology. As you can imagine, medical insurance billing and coding training will prepare you for this growing professional area.