6 things to know about medical coding and billing specialists

Medical billing and coding specialists play a key role in healthcare, especially with the implementation of ICD-10, and present another opportunity for job seekers.

Here are six things to know about medical coding and billing specialists.

1. Medical coders' primary task is to review clinical statements and assign standard codes, while medical billers process and follow up on claims sent to insurers for reimbursement of services rendered by a healthcare provider, according to the American Academy of Professional Coders.

2. AAPC notes that the medical coder and medical biller may be the same individual or may work with each other to make sure invoices are paid properly.

3. Some healthcare providers allow their medical billing and coding specialists to work at home since most of the specialists' work is done electronically.

4. Currently, AAPC has more than 143,000 members worldwide, of which nearly 100,000 are certified.

5. Salary data from AAPC reveals that the more AAPC credentials an individual carries, the higher their annual salary. The average annual salary in 2015 of members with:

  • 1 credential (any credential) was $46,899
  • 2+ credentials (any credentials) was $58,399
  • 3+ credentials (any credentials) was $65,643

6. The Bureau of Labor Statistics releases national salary averages for medical billers and coders under the umbrella category of "Medical Records and Health Information Technicians." According to the BLS, medical records and health information technicians who work in general medical and surgical hospitals had an average annual wage of $43,080 as of May 2015.

 

 

More articles on finance and revenue cycle management:

Council approves $423k loan to cash-strapped Fairfield Memorial Hospital, with conditions 
athenahealth shares receive consensus rating of 'hold': 3 quick facts
In celebration of Earth Day, PatientPay pledges to have trees planted for each patient payment

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months