Don’t you believe it, Medical billing professionals have never been in greater demand and the requirement of such qualified people currently out weighs the supply. This is good news to those embarking on a new career in this opportunity rich industry, because whenever the demand out weighs the supply in career aspects, the offering salary usually increases, so that the recruiting practices can attract the best suited applicants.
Once qualified as a medical billing/ medical coding professional, you can commence a respectable career that usually offers a high level of independence. Often, you will work with little supervision in a physician’s office. On the other hand, you may decide to offer your services on a self employed basis and work from home at your own pace.
Medical Billing Professionals
Medical Billing is one of the fastest growing medical support careers in the healthcare industry, and the services they provide is essential for any medical practice. The reason for the demand is due to government crack downs on fraudulent dealings that have been going on in some practices in the past. The biggest problem for government agencies and insurance companies is keeping track with and controlling claims fraud and practices that abuse the system. The government response to this abuse has resulted in the implementation of legislation whereby detailed paper trails are required. All this additional workload caused a surge in the need for Medical Billing professional in doctor’s offices, clinics, and hospitals. The demand for Medical Billing professionals has caused an increase in the starting salaries for such qualified individuals.
Salaries for Medical Coding Professionals vary from practice to practice, but they are relatively stable, averaging a starting salary of $30,000 to $33,000. For those that have achieved the CMCP title could make up to 20% more than those that are non-certified.
Medical Coding Professionals
Like Medical Billing professionals, Medical Coding Professionals are in high demand. Salaries for those that are qualified vary from practice to practice, but they are relatively stable, averaging a starting salary of $33,000 to $37,000. In some areas of the country, salaries can be even higher, but this is not the norm. In addition to a healthy salary, most employers offer their RMC insurance benefits and a bonus pay scheme. Top end salaried can go above $50,000 with multiple benefits on offer, making Medical Coding a career with great potential and limitless prospects
If you have chosen Medical Billing or Medical Coding as a career choice, you have chosen wisely. To make the most of your new career, whether you are in the process of considering the profession as a new career or have just become qualified, I wish you all the best in your new venture, and I am sure that your prospects will expand in this secure industry.
