Medical Billing and Coding Salary Predictions For 2013

| December 5, 2012

Medical billing professionalHealth care is one of the most respected professionals in the job market because of the crucial role they play in the society as well as the salaries that are attached to their jobs. Among these health industry professionals are clerks involved in medical billing and coding. The professionals in this job have the responsibility of processing payments that are forwarded to them by patients as well as insurance providers to ensure that they receive payments for the services provided. As part of providing health care, they are usually incorporated in areas that have billing processes where medical coding is essential.

In order, to be a medical billing and coding professional training that is offered in a variety of institutions in the country is required. The coursework that has to be undertaken by these professionals include the learning of general codes that indicate whether a service took place in a physician’s office, emergency room or outpatient facility. Other codes that are learnt in the coursework are those that specify the diagnosis of the doctor and the prescription given, if any. In addition, some codes that are explained during their training are the insurance cover a patient has and also how much they should pay in addition from their own resources.

There are a number of professionals that hold medical billing and coding jobs within the health industry with many more being trained to join the job market in the near future. It is a career that is considered to be a good choice for many because the educational requirements needed are low and there is career growth that has been witnessed in the industry in recent years. The growth in jobs for clerks involved in medical billing and coding is expected to grow to twenty one percent in the next seven years when compared with its 2010 growth rate, according to current labor statistics. The growth rate that is expected is quite fast and will largely be due to the increase of an aging population that is experiencing a baby boom that will be in need of services offered by professionals responsible for health records that are managed electronically.

As the demand increases, so will the medical billing and coding salary for a professional in the industry which is similar whether one is a graduate or is a holder of a certificate with the same training. Even though the medical billing and coding salary predictions for 2013 seem to lean on the brighter side it is important to have in mind that this may vary depending on the employer as well and the location in which the professional is working from. Other experts in the labor industry predict that there will be an overall increase, an average of twenty percent from 2013 to 2018 for professionals that deal with medical transcriptions as well as technicians in health information. Furthermore, statistics related to medical billing and coding salary predictions for 2013 also indicate increased advancement in technology as part of the reason why the salary of these professionals is set to increase in the coming year.

Is medical billing and coding a viable profession in 2013?

Even as the predictions for salaries for clerks involved in medical billing and coding seem promising there are other changes that are also going to take place that if adopted will be for the good for the professionals and their clients as well.

First, 2013 is predicted to have an increase in job vacancies for medical billing and coding professionals and a coding language that is new. These two major expectations are likely to make the profession a choice for many individuals who would like to work in healthcare but be exempted from offering treatment to patients. However, they will still need to be involved in training to be able to understand the codes that are universal and are used in the profession on a daily basis.

Second, as the healthcare industry moves towards eliminating paperwork as a whole and incorporating the use of electronic systems in the storage of health records, computer skills become essential for medical billers as well as coders. According to experts analyzing medical billing and coding salary predictions for the coming year, these skills will play a role in how much salary is paid to such professionals.

Third, MedHealthWorld has also released a report on the changes that various states in the United States are adopting in regard to health records. There is a deal in the pipeline that seeks to implement the building of databases that hold medical records for a whole state as a way to ensure that they do not get destroyed even when a location is affected by a natural disaster. These large databases run by states will provide more opportunities and increased salaries for professionals in the medical billing and coding industry.

Fourth, medical billing and coding salary predictions in 2013 will also increase depending on the experience that the professional has managed to accumulate over the years. The salary that entry level medical billers as well as coders are expected to earn is good but for those with experience the prediction is much better. Also, as the vacancies are expected to increase so are the opportunities to move from a good employer to a better one, thereby ensuring that the salary and benefits increase as well.Medical billing analyst

Overall, even as technology increasingly takes over many of the functions that were done by professional in the health care industry, medical billers as well as coders have no cause for alarm. This is because they are still needed to help achieve the goal of making their patients, insurance providers as well as other in the medical field comfortable and safe as they interact with various people in health related professions. Therefore a career in medical billing and coding is one that can be chosen by anyone who is interested as its salary predictions continue to be promising even in the years to come.

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