Medical Coding and Billing: Career and Salary Information

Medical Billing: Career Information

Medical billing is the practice of submitting claims to Insurance companies or the United States government, specifically Medicare in order to receive payment for services provided to a patient by a medical doctor or other licensed health care provider. Medical billers usually work away from the public eye in the claims processing office, or in the billing department of a medical office, clinic or hospital. Their work hours consist of forty regular office hours from Monday through Friday.

Medical billers not only review charge slips and track payments, they also analyze records to produce customized reports that show profitability or areas in need of improvement. Such reports are critical when decisions need to be made on renewing and negotiating contracts. They also advise physicians of fee structure changes, new coding practices, and ways to improve the office’s bottom line. Most medical billers also handle the offices dictation transcription. This saves the medical office money and allows the healthcare providers to comply with the strict HCFA rules, which mandate clarity of all Medicare claims.

The medical biller’s training is extensive because of the many responsibilities and duties involved. Those entering into this field should consider enrolling in a medical coding and billing training program that’s approved by the US Department of Education. This could be a vocational training institution in the local area or via a distance education course online.

Medical Billing Salary

There are many factors that may influence your medical billing and coding salary. Your geographic location, for instance, can play a big part in your level of compensation. In areas where the cost of living is higher and the local economy is thriving, medical coding salaries may be higher.

Where you work will also make a difference. Whether you work in a hospital, private practice or another kind of establishment will affect you medical billing and coding salary. Your education level and amount of work experience will also determine your earning potential.

Because of all the personal decisions and outside factors that shape your compensation, it is difficult to predict what your medical billing and coding salary will be. However, by looking at national human resources data compiled by Salary.com, we can see that the middle 50 percent of medical billers and coders made between $35,999 and $44,562 as of November, 2008.

Increasing Medical Coding Salaries Through Career Advancement

Gaining experience in the field can boost medical coding salaries. However, you can also increase your pay when you specialize or receive a promotion to a supervisory position. Many medical billers and coders advance by specializing in an area such as Medicare coding or cancer registry. Other experienced technicians advance to management and supervisor positions, overseeing the work of the coding, correspondence or discharge sections.

Senior technicians with credentials may become director or assistant director of a medical records and health information department in a small facility. However, in larger institutions, the director is usually an administrator, with a bachelor’s degree in medical records and health information administration.

Certificate or Diploma: 1-Year Medical Billing & Coding Programs

Certificate and diploma programs generally take nine months to one year to complete. These programs are offered by career colleges and community colleges. Career college programs usually have a faster time to completion.

Benefits of Online Medical Billing and Coding Courses

Here are some of the top benefits of studying medical billing online:

• Attend class when it’s convenient – While most online medical billing and coding courses will map out deadlines for assignment and exam completion, it’s up to you to decide how to best fit the course work into your daily or weekly schedule.
• Study wherever you want – As long as you have an Internet connection, you can attend class. Whether you need to take your studies with you while you travel, complete course work during your lunch hour, or you simply want curl up on the couch at home, online medical billing and coding courses can accommodate these needs.
• Cover the same material as you would in a classroom – No need to worry that you’ll be presented with a scaled-down curriculum if you choose to take online medical billing and coding courses—most online classes cover exactly the same material as campus-based classes. Only the format is different.
• Enjoy lots of interaction with instructors and peers – Contrary to what you might expect, many students enrolled in online medical billing and coding courses find they actually communicate more with instructors and classmates than they would in a traditional classroom setting. Participating in class discussions via message boards or live chat sessions is often required, and exchanging emails with instructors is a given.
• Choose from a wide variety schools – Many schools offer online courses in medical billing and coding, which means that you will be able to choose the school that seems best for you instead of being stuck choosing between one or two schools that are geographically convenient.

Typical Classes in an Online Medical Billing & Coding Course

Medical billing and coding technicians assign a code to each patient’s diagnosis and to any resulting procedures, a process which generally involves sifting through patients’ charts to determine the main diagnosis, then researching the appropriate code using diagnostic manuals and specialized computer programs. They then complete the necessary paperwork and file claims with insurance companies.

In order to prepare for these responsibilities, the classes you’ll take in an online medical billing and coding course might include:

• Anatomy and Physiology
• Insurance Claim Procedures/Insurance Law
• International Classification of Diseases (ICD)
• Medical Office Technology and Administration
• Medical Terminology
• Various coding workshops