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Monthly Archives: June 2017

6 Surprising Facts about Medical Coding and Billing, you didn’t know

The medical coding profession is an indispensable part of the healthcare industry. By allocating codes to the description of a patient’s health condition, medical coders help to keep the flow of information between the doctor and patient as well as insurance companies. What is more, jobs in this field are booming high! The Bureau of Labor and Statistics is foretelling a 15% increase in medical records and health information technician jobs between 2014 and 2024. While this profession has a significant place in the job market and holds a high demand but there are still a lot of people who are unaware of it.

Here are 6 facts about the medical coding profession:

  • Medical Coding and Medical Billing are NOT the same –

Medical coding is the assigning of codes to descriptions of a patient’s health condition and services offered to that patient while medical billing is the means of submitting claims and handling payment for services rendered.

 

  • Medical Coders plays a vital role in the health industry –

Documenting a patient’s history is extremely important. Not just communicating the correct information to insurance companies, it also ensures providers have the full image when trying to piece together a diagnosis, helping to save lives!

 

  • Medical Coders is problem solvers –

The act of allotting codes from descriptions is as much of art as it is a science! Sometimes it requires too much research and follow-up with doctors, patients, and insurance companies to ensure accurate information is captured. Excellent problem-solving skills help in this profession.

 

  • The Medical coding system is massive –

Medical claims require the application of thousands of codes. Most Billers and Coders operate with systems for tracking and assigning codes because of just how big the medical coding system is. If you have a great memory, you will find it that much simpler to assign codes.

  • Medical Coders can work in any healthcare environments –

Medical coders are needed in all the sectors of the healthcare system. Some medical coders work in hospitals while others work directly in a physician’s office.

 

  • The future outlook for Medical Coder looks promising –

The lack of skilled medical coders is disturbing the healthcare industry and creating high demand for medical coding. As per CNBC, the demand for medical coders set up by new federally mandated coding standards, which have lowered productivity.  

Joshi Medicode provides accurate, reliable and unbiased training sessions for medical coding, billing, and transcription. Joshi Medicode offers a self-paced program with round-the-clock support from our well trained and experienced staff who provide complete hand-holding, motivation and guidance right from course beginning to course completion and placement.

To be a part of this booming profession. Partner us for a bright career in medical coding, billing or transcription. Visit us @ www.joshimedicode.com for further information.

What is the job outlook for Medical Coding?

Today, the outlook for any given profession is under great scrutiny, but when it comes to medical coding, the future looks great. Medical coding is one of the fastest growing jobs in the healthcare today.  It’s unlikely that strong candidates for this profession will ever struggle to find work as the healthcare industry expands. And the best way to make sure of the strongest job prospects possible is to get formal medical coding and pursue medical coding certification from a good institute.

If you consider taking a career in Medical coding, the training can help you develop the skills and knowledge. You can also prepare for an industry-recognized certification exam, like the Certified Professional Coder (CPC®) exam. As many employers want candidates with relevant education and certification, medical billing and coding candidates should be able to demonstrate an understanding of industry-standard codes and practices.

As per U.S. Bureau of Labor Statistics (BLS),  the employment for Medical Records and Health Information Technicians, which includes medical billers and coders, is expected to increase 15% from 2014-2024, faster than the average rate for all occupations.

The increase in the job opportunities will also have an impact on the very nature of the profession, thus impacting the job outlook:

Increase in work from home employment:  Medical coding is an administrative profession which does not require any face-to-face interaction with patients. This makes telecommuting a more viable option than a need for having a medical coder on location less important. Due to this trend, there is an increase of professionals in the field who want to take up work from home and giving ample scope for freelancing.

A healthy increase in training demands: As there is a high demand for medical coding jobs, there is also great training demand from employers and organizations which offer certifications.  For example, AHIMA seeks to increase education levels so that a graduate degree will be necessary for professional growth.

Other opportunities: There are other career opportunities which exist for medical coders. They may be hired as auditors for private companies which will help other facilities maintain compliance by reviewing their medical documents.  There are also jobs which exist as claims adjudicators on the payer side. Many times medical coders are cross-trained as medical billers also, and they can climb the ladder as medical office management positions.  There are also other jobs which exist as that of medical billing advocates. These advocates work for private entities which provide services to inpatient hospital clients to review their bills for errors and get the biller lowered.

To conclude, one can say the outlook looks quite bright for a person who aspires for a job as a medical coder. Due to the competitive nature of the job market, you need to take a quality medical coding training necessary to land a good job.

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