A career in Medical Coding is an excellent choice for many and opens a plethora of opportunities in the healthcare industry. The Healthcare industry is booming across the world. Both freshers and professionals can pursue a lucrative medical coding niche and build a robust career. Medical coding is one of the most sought after skills in the medical domain. Not to forget that the scope is expanding as you read this piece.
What exactly is Medical Coding?
With the advent of 2021 and revolutionary technologies in the market, the healthcare industry is set to experience dynamic changes. Be it a hospital, clinic, or other medical establishments, medical coding is a vital part of operations. As a medical coder, your job is to secure medical reports including diagnosis, prescription, condition, bills from doctors, and translate these reports into coded medical information.
People working as medical coders use dynamic software to keep a track of patient records. These records are mainly patient diagnosis, treatment information, service records, supplies provided, equipment rendered, etc. These procedures are coded according to internationally accepted codes. ICD (International Classification of Diseases), CPT (Current Procedure Terminology), HCPCS (Healthcare Common Procedure Coding System) are some of the important coding methodologies.
What is taught in Medical Coding Certification?
On a high-level, medical coding training and certification programs cover:
- Basic medical anatomy, physiology & terminology
- Prepares you to work in health data management
- Health informatics
- Know how to comply with the core standards of Health Associations
- Understanding of medical law, ethical standards & more
Let’s move ahead and know about reasons that make Medical coding a gainful career opportunity:
Rising Demand for Medical Coders
The need for medical coding skills is growing & now is a good time to jump in and join the industry. The Healthcare industry is offering a strong job market for medical coders. In the U.S. alone, the medical billing and coding niche is expected to grow by 15% by FY 2024 and generate over 30,000 openings year on year. Moreover, the market has switched from ICD-9 to ICD-10 coding guidelines. This is triggering a demand for skilled medical coders with ICD-10 ready certifications.
A Vital Role
Medical coding specialists play an imperative role in the healthcare industry. As a medical coder, you’re responsible for carefully and accurately processing the health claims. These claims should be coded accurately so that healthcare providers are reimbursed by insurance companies with the correct amount, without any hassle. Medical coders help with the daily practice of clinics and hospitals. A physician can access the records coded by you in the future to decide the best treatment course for the patient.
As a medical coder, you can achieve a good work-life balance. Although traditional medical coders operate from hospitals or clinics, Medical coders can also work remotely. On average, the work caps at 40 hours a week. Therefore, you can work from the comfort of your home and keep growing professionally. Moreover, as you gain experience in the niche, you can choose your work schedules and further enhance your working arena.
Many Industries & Opportunities
With medical coding comes the opportunities to open your doors to various industries. A qualified, skilled medical coder can not only work with hospitals, diagnostic centers, or clinics but with insurance companies as well. You can secure both contract and permanent opportunities with the employers. Thus, a career in medical coding can stimulate growth and reward opportunities to candidates throughout life.
You can Start in a Few Months
If you’re serious about building a career in medical coding, you must know you can achieve this feat in less than a year. Most medical billing and coding certifications take less than a year to complete. As soon as you clear the certification, you can immediately start working. Certified medical coders can work in a range of healthcare settings around the world. The niche has a positive job outlook, thanks to its growth rate. The right certification can get you in the market in no time.
Medical coders are the ones needing minimum supervision. The career path is independent and offers a dynamic work style for professionals. On any day, you’d be working with electronic databases of different coding guidelines, access medical records, insurance claims & tag the procedures into the databases. A medical coder has all the tools needed to perform the job in-hand. There is next to no face-to-face interaction with the patients. Medical coders are self-reliant and hence, require minimal supervision.
Start Your Own Practise
You can also develop a career in Medical coding as a sole proprietor. You may garner experience at medical establishments and examine opportunities. Since there is no supervision required in the medical coding niche, you can start your practice. Be it a sole proprietor, medical coder agent, contractor, or entity. The sky’s the limit for growth. You can scale up and handle records from multiple medical institutions. Thus, medical coding promises great career satisfaction and social interaction too.
Become a Part of Fast-Paced Industry
Working in the Healthcare industry is a smart and rewarding career choice. Medical coding is a booming field. Both students and professionals can take the certification, become qualified medical coders & enjoy plenteous opportunities. Apart from a lucrative career option, you’d be providing invaluable service too.
A medical coder might not be working at the front line. It is the coder that provides language to the insurance companies to decipher health claims, & begin the reimbursement. Without accurate and detailed coded records, insurance companies can’t process claims on time, and this may put a bottleneck in a patient’s treatment. Now is the critical time for the Healthcare industry. Medical coders can kick start their career with a certification, today!