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Daily Archives: August 25, 2017

The Revelation of Medical Coding Industry & Future Outlook

Medical coding is an interesting job to offer. Medical coding and billing professionals translate medical records into standardized codes which are used to bill the patients and third-party payers such as insurance companies and Medicare.

Coders generally use three different sets of codes, CPT, HCPCS, and ICD – 9/10. The ICD-10 code has taken over the world now and most of them have to get trained in ICD-10 because all healthcare facilities and professionals must transit from ICD-9 codes to the new codes.

Where do they work?

Professionals in medical coding and billing are usually found working in healthcare facilities such as clinics, physician’s office, hospitals, insurance companies and other healthcare facilities.

Medical billing and coding are not the same

Medical billing is the process in which claims are submitted to insurance companies to receive payment for services provided by a doctor or another healthcare provider.

Medical coding is a process where coders are assigned to the descriptions of a patient’s condition and healthcare services provided to treat the patient for a particular condition.

Billers and coders are good problem solvers

Medical billers and coders are not just paper pushers that work in an administrative setting but they take over many duties and possess traits of being a good problem solver. This is because they need to work with patients, healthcare providers, and insurance companies to quickly address bills that need to be paid.

Medical coding is huge!

There are thousands of billers and coders who process medical claims. There are so many codes that it is impossible for coders to memorize all of them.

Medical billing – two types

Medical billing is generally of two types, the professional billing, and institutional billing. A lot of information can be gathered on the two.

Medical coding jobs and career outlook

Medical coding is a growing job market with most of them undergoing medical coding training and medical billing course with an employment increase of 21% by 2020. Coding services, increasing number of tests, treatments and procedures, existing shortage of medical coders and transition to ICD-10 codes is in a high demand. A growing number of professionals are needed to code the patient’s records; they act as liaisons between healthcare facilities and companies and manage the responsibilities associated with electronic health record. One such institute that creates such medical professionals is the Joshi Medicode technologies.

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