Getting a degree online is one of the smartest things you can do when you’re looking to change careers. A very popular online degree course for new career-seekers is a career in medical billing and coding. There’s a lot to love about this career path, and today we’re going over what you could expect from a career in medical billing and coding. Let’s talk shop.
Medical Billing and Coding
Job Description
What, exactly, does a medical billing and coding specialist do? Well, there are two answers to that. The straightforward answer is that a billing and coding specialist sends people the bill for the medical services they were provided. Pretty simple, right? Well, that’s just the tip of the iceberg.
A more complex answer is that the billing specialist oversees what’s known as the billing cycle. The billing cycle is the main interaction between patients and doctors once medical services are completed. A billing specialist oversees the registration, processing, recording and handling of sensitive patient records, which makes this a very important job.
Responsibilities
When a patient comes in for a visit to the doctor, the billing and coding specialist has to translate all of the services rendered and activities to codes. These codes indicate a record of what kinds of medical services are being billed for. Then, this recording is sent to whoever is paying for the visit, which is usually an insurance company.
Other than billing and entering code, specialists also handled denied claims and work with insurance agencies to understand why claims are denied. When bills are past due, specialists have to reach out to the patients or insurance agencies in question regarding the late payments to acquire the missing funds.
Job Satisfaction
This means most of the work a billing and coding specialist does is highly specialized and technical, but not incredibly fast-paced of inherently stressful. The work is usually done in a medical setting, such as a doctor’s office, though some specialists work independently and are contracted.
If you’re interested in a job in the medical field that doesn’t involve directly dealing with patients, this might be a good job for you. Those with a good eye for details, strong work ethic and who enjoy clerical work are ideal candidates for billing and coding specialist jobs.
Where You Work
There are a number of places that billing and coding specialists work, but primarily they find their work in hospitals. Private practices are also common employers of billing specialists, as are nursing care facilities, outpatient clinics, health insurance companies and pharmacies. In short, you can find work as a billing and coding specialist in nearly any aspect of the medical profession.
Other specialists work from home as independent contractors. While it is possible to begin a career as a work-from-home coding specialist, these cases are much rarer than working in a medical setting. That said, there are some medical billing specialists who make a living from home, just know that you likely won’t start in the field as a contractor right after getting your online degree.
Average Pay
The average pay for a medical billing and coding specialist varies depending on their experience, the setting they work in and what kind of work they’re doing. In general, however, a billing specialist makes an average of $34,000 per year, or around $16 per hour. That’s assuming an average amount of experience, a college degree and work in an office of some kind.
Keep in mind, contractor work will end up paying more than full-time employment, but contract work means you need to have your own insurance and pay taxes yourself.