The need for medical and health technical records, such as medical billing and coding jobs, is expected to grow 15% from 2014 to 2024, according to the Bureau of Labor Statistics, making it a viable family business. Option. The medical records specialist earns an average salary of $ 35,900 per year, which is not bad for a profession that requires little education or training.
Medical billing and coding lends itself well to working at home, and many in the Medical Billing Services profession have been able to do just that, either by establishing a home-based business and working for themselves with freelance physicians as their clients, or by Working From home in medical billing positions with large healthcare companies that electronically make and track medical billing work assignments.
Insurance companies, pharmacies and related companies, and even the government, can hire medical billing and coding professionals for their expertise.
Advantages of medical billing and coding
- It can be done from home as a business or telecommuting job.
- Healthcare is a trillion dollar industry that is always in need.
- Help with billing and coding continues to grow as healthcare facilities and workers move toward electronic billing and filing.
- Doctors are happy to outsource medical billing to free them up and do what they do best, provide services.
Disadvantages of medical billing and coding
- It can be difficult to enter the industry as most health and medical centers have one source for medical billing and record keeping.
- Most job sources will want you to be certified as a medical biller and / or coder.
- There are medical billing job and certification scams that you should be aware of.
Skills required for medical billing and coding
Currently, there are no established educational standards for the medical billing profession.
Many employers offering home medical billing jobs seek some level of formal medical billing and coding training through an accredited vocational or vocational school, along with actual experience in a medical billing office. Accredited formal programs can take from as little as nine months to as long as two years or more and can also offer career placement assistance.
Educational Requirements for Medical Billing and Coding Professionals
Medical billing requires a fairly solid understanding of:
- Medical terminology
- Anatomy
- Knowledge of how to correctly complete various forms
- Industrial coding for medical procedures
If you don’t have that kind of experience, you can take a course and get certified as a medical issuer and coder. You just need to make sure you choose a reputable program.
Medical billing expert Paul G.Hackett says that “almost 80% of people end up choosing the wrong types of online medical billing courses.” He also advises that there are only seven medical billing training topics to look for before enrolling in any medical billing training program. He calls these his “essential” medical billing that every medical billing training program should have.
9 Things to Avoid With Online Medical Billing Education Programs
Unfortunately, due to the growing popularity of home-based medical billing businesses and because it logically makes sense that a career in medical billing is one of the strongest work-from-home opportunities, the industry is fraught with scams such as “You can earn $ 50,000+ Medical claims processing from home. No experience required! “
Scams to try to get you to buy training, software, marketing materials, and doctor lists are also rife. Also, some medical billing software scams try to sweeten their offerings with discounted clearinghouse services if you buy medical billing software from them. Any of these scams can cause you to part with your hard-earned money and waste time establishing yourself in the medical billing and coding profession.
6 Ways to Avoid Medical Billing Scams
Other skills required include a high level of computer skills and a typing speed of at least 35 words per minute, as well as good customer service skills for dealing with patients who may be under stress, medical and hospital billing staff, and other medical staff.
Medical billing centers
An electronic medical billing center acts as an intermediary that receives electronic medical claim information and then sends it electronically to insurance companies. Contracts with. However, many of those who run medical billing businesses do not take advantage of this time savings in their medical billing and coding practices.