Medical Billing and Coding Job Description, Training and Salary

If you've been thinking about taking some medical coding or medical billing classes online or getting medical coding or billing training you want to make sure you understand what this career and the job entails and have a good idea what kind of salary you'll make. Of course you may want to open a work from home business and it's certainly possible but may require a good education and training and an entrepreneurial ability to do so.

Going into a home business is not for everybody and getting on the job experience first is a good idea unless you have extensive education and feel like you completely understand the billing business.

Medical billing means you would be documenting patients' visits to a doctor, clinic or hospital or other type of health facility. Medical billers, assistants or Specialists enter clinic and patient information into expensive billing or practice management software so you can submit medical claims to health insurance companies. You would also be posting payments from insurance carriers and patients and run off management reports. You may also be required to make follow up calls.

Medical billing doesn't have to be done in a doctor's office. You can do billing from home, any office, clinic or hospital, billing service or facility that has the necessary software. Many doctors outsource their billing and may choose a home based business if the service is competitive in terms of cost. Or they may choose a smaller service and not necessarily one of the large billing services. So cost is a factor.

Medical coding is a totally separate function and not a part of the medical billing business. Medical coding cannot be done from home or outsourced to a service. Medical coders usually work right in the doctor's or clinic's office doing the coding before it is sent on to the billing service. Coder's salaries are comparable to medical biller's salaries.

So if you decide to get medical billing training you don't have to worry about coding and vice versa. People usually choose one or the other. Medical billing is more popular and offers more versatility since you can work from home in either your own business or for a doctor or clinic that allows you to do that.

Billing services often have graveyard shifts and may run around the clock. Salaries to start out run at least $10 an hour and up depending on your training, education and or experience, or related experience. You can move up fast as you gain the experience on the job and can command a much higher salary for the experience you're getting both from the clinic, practice or company you're working for when and if you leave for another medical billing job.

You don't need national certification, for example, as a billing specialist but it may help you get your foot in the door faster. There is money available for both your local on-campus and online medical billing training too. Make sure to check out online schools thoroughly to avoid any scams.

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Medical Billing Job Description and Salary Range

If you've been thinking about entering the field of medical billing I'm sure you're wondering what exactly a medical biller does and what salary you can expect. There is a lot of interest in this field and many ways to enter it. Although experience is best it takes getting a job in that field to get experience and it can be a vicious circle. But first the job description. Keep in mind that depending on the facility you may or may not be doing all of the following. And if you work for a billing service your job may be quite different since it is not a medical facility.

If you work as a medical biller or a certified Medical Billing Specialist you will compile and track outstanding balances that are owed to medical clinics, medical offices or other medical facilities. You would maintain the records of payment for all patients for that medical facility. You would make payment arrangements with the patient and collect on any past due accounts.

As a medical biller, medical billing assistant, billing clerk or billing specialist you would have access to a lot of confidential medical information. You would be working with collection agencies and even the courts to collect on delinquent accounts. You may also be working with lawyers and others on the estates of patients who have passed away on resolving their unpaid accounts. You would be working and coordinating the deductions from payroll for the employees of your clinic or facility. You'll be aware of the rules and regulations you must follow to be in compliance with any local, state or federal laws or regulations.

Now what skill should you have? You'll be working with a lot of numbers and technology. You want to be comfortable using a computer, software and office equipment. You'll be learning billing software if you haven't learned it in medical billing training. You don't need to learn coding as that is a separate function and coding is usually done before it reaches the biller, but some knowledge of it can only help. You will want to have good communication skills as you may be talking to people about their medical bills.

The salary you can expect will depend on previous experience and medical billing training you have had. You will make a higher salary as a certified Medical Billing Specialist which requires taking a national exam. But generally your range will be in the $31,000 to $45,000 range. The more experience the higher the pay generally. There are lots of ways to get experience and training including medical billing training online and at your local college. There is plenty of money and financial aid available for online courses and you want to check out every school thoroughly to avoid any scams.

Medical Transcriptionist Salary

Medical transcriptionists' salaries fluctuate considerably. There is no fixed income for work of this kind, with earnings depending on the productivity and skill of the medical transcriptionist.

In 2002, the American Association for Medical Transcription (AAMT) conducted a survey, where an average annual salary of a little over $31,000 for the medical transcriptionist was reported. The highest-earning 10% of those surveyed had a salary nearing $18 per hour; the lowest-earning 10% earned a touch over $9 per hour. Of course, some earn distinctly more and some considerably less than that figure. All said and done, a medical transcriptionist's salary is situational. Sometimes it takes much more than mere skill. It helps the medical transcriptionist to be at the right place at the right time.

On average, a qualified medical transcriptionist can earn about $50,000 for full-time work and $20,000 if he is working part-time. Transcriptionists can bring in a greater salary if they have their own business or are prepared to work from home.

A really skilled medical transcriptionist can earn $25.00 - $35.00 per hour. The money in this field is substantial. More importantly, it can be a priceless add-on to your already existing income and career.

Medical transcriptionists are compensated in various ways. Some get their salaries based on the number of lines transcribed or hours worked. Others have a per-hour basic pay with bonuses for additional production. It is important to remember that independent contractors have a greater salary than transcriptionists working for others. However, working independently is fraught with drawbacks. The expenses are greater; they receive no or meager benefits, and there is no real security in the job.

Medical Billing Salary Range

Although medical billing career may not earn a very high pay like other medical related jobs, medical billers do bring home a salary that is enough to live a fairly comfortable life.

Medical billing salary is influenced by lots of factors. The training gained in the billing field accounts for the major part. The person who completed a relevant course in the medical field, gains special skills and knowledge and this is a clear indication that he/she is putting extra efforts in order to perform a good job as a medical billing specialist. Depending on the education qualification, the hourly rate varies from $12-$15. Another most important factor that affects billing pay is how long someone has worked in the field. Medical specialist with experience of 1 year earns around $12 per hour. Those who have more experience in billing earn up to $16 per hour. However, the geographic location also plays a role in pay scale. For instance, areas where cost of living is high, the pay will be more. Billers who work in New York City, Houston, Chicago and California are able to pull a good amount of salary. Work locations such as hospital, billing company or private practice will also affect the salary. Since there are lots of factors which affect the salary of billing, it is really not easy to predict the pay scale. Studies have shown that 50% of people earned around $35,000-$45,000 annually.

Medical transacting can be a work at home opportunity, which can fetch a descent salary in a comfortable home environment. Most of the medical billers are paid hourly, rather than annually. While biller who is experienced can earn around $40,000 a year as an independent contractor working from home, a billing and coding specialist who runs his own firm can earn $100,000 a year. However, people who are searching for home based job should be very careful. There is lots of fraud going on in this field. These scammers charge hundred to thousand dollars and in exchange they claim they will help to get a placement in billing. They also promise that medical billing job can earn a substantial amount of money and no experience required. But in reality, those who paid to get a job end up with no job, no money. Billing is a very competitive field, so without experience or training in medical billing field, it is almost impossible to get a job.

The best way to get a good salary is get trained, have few years of experience, and by doing justice to the job. A medical billing professional with all these qualities will definitely earn a good salary.

Medical Billing and Coding Job Requirements and Salary

If you're thinking about entering the medical billing or medical coding field you'll be glad to know that there is a strong demand for qualified, experienced medical billers and medical coders. I discovered that medical coding first came into being because there was a need to standardize and organize all the new technologies and medical and surgical procedures. So much new information has surfaced over the years that improved medical billing and coding techniques were necessary.

Insurance companies and health care providers needed these codes to help classify claims. Because of this need for better coding and billing practices, the demand for billers and coders increased. This has made billing and coding jobs the fastest growing area in health care.

Besides working for large billing services, there is a huge need in insurance companies, large clinics, doctor's offices and other healthcare facilities. These companies are looking for experienced and educated people. Making mistakes in billing can cause a lot of problems legally. So usually they prefer that an individual has experience or good medical billing training.

There are no state requirements for certification. You can take one national certification exam to get a certificate in medical billing as a Specialist but it's not a state requirement. The organizations that offer the exams are not state or federal organizations. Medical coding also has no state requirements for certification.

Although on occasion an employer may hire someone with no experience, it's possible that if you have related experience they may decide to hire and train you using their expensive software. But generally they would like you to have some experience or medical coding or medical billing training through a college, university, trade school or online school.

Can you get a job in coding or billing? This is a copy of the wording in a classified ad in our local newspaper today to give you an idea of what to expect. Make sure to check all your local newspapers and surrounding newspapers to see what's stated in the ads. Here it is: "Medical Billing Specialist, full time, permanent position, Monday through Friday, flexible hours, requires insurance/Medicare billing experience. Electronic billing required. Long term care experience helpful. Basic computer skills required. Competitive salary. Submit resume."

Ads can vary in many ways. You can call these companies and find out a lot of information too about future hiring and if they ever have any other medical billing or coding jobs that don't require as much experience or education.

Medical coders with little experience may start out their career at $9 to $10 an hour and work up to $35 to $45 an hour. You can see it won't take long to get experience and your value as an employee will be rewarded with a higher hourly rate. Once you have this experience you'll be able to move into other companies at a higher salary. But there is much more to know about how to get your training online or offline and how to get it cheap and avoid scams. Federal money is available for online classes too.

Medical Billing And Coding - What Are The Job Prospects And Salary ...

I know the job prospects and salaries for medical billing and coding professionals and medical insurance specialists are going to be good for many years to come. This is due to the demand for healthcare and the continuing need for specialists and professionals in these fields to ultimately help guarantee that reimbursements will be made in a timely manner.

Training in this field will never be wasted if you love the work and have many opportunities in your local area. If you have billing services, hospitals, insurance companies, large doctor's clinics and health facilities you'll likely have plenty of job opportunities. Of course you don't want to take this for granted and not only scour the paper for ads that appear to be in this field but make several phone calls to human resources departments in these facilities to find out what kinds of openings they have for medical billers, medical coders and medical insurance specialists.

Medical insurance specialists differ from billers and coders in that they are usually trained in both medical billing and coding. The job descriptions for billers and coders are quite different. You may enjoy billing work working with claims and patients or coding work - that is medical coding procedures or both.

When you're calling around on the phone you can also try to get an idea what the starting salaries will be for someone with education but no experience and with experience. Salaries vary quite a bit from around the U.S. and it depends a lot on the competition for the jobs available. Salaries can vary as much as from $30,000 to $45,000 depending on training, experience and how much experience one has in this field.

I see classified ads occasionally that are for medical billers but the ad does to always use this designation. It will say medical insurance specialist or billing assistant or something related so keep this in mind.

You can get training in medical billing or coding or both online or on your local college campus. Online training can be cheaper sometimes but you need to read any contracts carefully and check out the schools thoroughly.

Your local college reps can tell you whether they have a program in medical billing and/or medical coding. A number of subjects will need to be covered such as medical terminology. With some of the online schools you want to make sure that you actually need all the classes they recommend as it may cost more money. Federal financial aid is available for medical coding or billing online classes as well as for classes at your local schools, trade schools, colleges and universities and some of these institutions also have online classes you can combine with attending locally or taking the classes strictly online. Make sure to do your in initial research online for comparison's sake.