Now is a great time to start a career in medical billing and coding. As the healthcare industry grows and changes the demand for professionals continues to increase. According to the Bureau of Labor and Statistics, the medical billing and coding field is expected to grow by 15% between now and 2029. As a result, there will be about 30,000 job openings in the next nine years.
What is Medical Billing and Coding?
Medical billing and coding are essential to the healthcare industry. Medical coding transfers healthcare diagnoses, procedures, and equipment into alphanumeric codes. Medical billing is the second part of the process which involves reviewing a patient’s diagnosis and procedure. This information is then used to submit a claim to insurance providers, patients directly, or government programs. Medical coding transfers healthcare diagnoses, procedures, and equipment into alphanumeric codes.
Medical Billing and Coding Education
To become a medical billing and coding specialist you do not need a four-year degree. The medical billing and coding programs are not only shorter than a bachelor’s degree, but also more affordable. In fact, at E&S Academy we offer a Medical Billing and Coding certification program that is 8-10 weeks long. Moreover, this is an online course, so you can learn remotely. You can be working within just weeks of course completion.
Job Growth and Salary
As stated, before medical billing and coding have great job growth. The industry in the next nine years is expected to grow by 15%. As compared to the average growth rate of about 4%. With a career in medical billing and coding, you will have job security and opportunities. Now, I am sure you are wondering about salaries. For medical billing and coding specialists, the average entry-level salary is $38,040, which is about $18.29 per hour. This is higher than the average entry-level salary which is about 28,000 per year.