Medical billing & coding are one of the most well known and important aspects in the field of health care industry. People appointed in this field play an instrumental role in looking after the billing, insurances, organization, coding etc aspects of a hospital which ensure the smooth running of the entire establishment. It is related to administrative aspects of healthcare facilities and plays crucial role in bringing more clarity and ease in the complex payment mechanism. With the rise in technology and advancement of healthcare, doctors are in dire need of the best medical billers and coders in business.
A lot of people classify medical coding and billing as one particular stream which is a fallacy. Medical billing is totally different from coding but the jobs are interrelated. Both the jobs involve an equal amount of industry and skills. A person with an interest in both billing as well as coding may face a tough time in choosing a path of study. Comparing both the jobs in every aspect is vital before arising to a conclusion.
Medical Billing and Medical Coding Job Description
The job responsibilities are equally tedious for both fields. Getting a detailed insight of what the responsibilities are for both the jobs will give a clearer picture.
Medical billing Job Description-
Medical billing is a job for people with a highly responsible attitude. The job requires looking into a complex billing mechanism thus requiring a smart, intelligent and logical medical biller. The job duties include
- Collecting, posting and managing of all the account payments.
- Processing payments from insurance companies and preparing a deposit.
- Evaluating and checking into the financial strength of all the patients to establish budget payment.
- Participating and involving in all staff activities and meetings.
- Maintaining strict secrecy by following guidelines set by HIPAA.
- Billers also keep in touch with patients via phone in order to correct or resubmit claims to third party payers.
Medical coding Job Description -
Medical coding requires a good logical ability and interest to deal with complex medical data simplified into symbols. Every time a patient visits a healthcare facility, the relevant health care stats are recorded. These are required for many issues which include billing, insurance etc. They are coded and stored in computers for easy referral and retrieval.
Hence a good medical coder with sound knowledge is required to play a vital role in the administrative aspects of the hospital.
The job of a medical coder include-
- Verifying and confirming all the information entered in the computer.
- Referring to charts and stats to check completion and accuracy.
- Making good use of computer and its software to investigate data.
- Checking signatures.
When a comparison is made between the two streams, it can easily be made out that there is an equal amount of struggle and work load in both medical billing and medical coding,
Both the jobs are equally demanding and require thorough patience and skill.
Medical Billing and Medical Coding Certification
Certification today is like a ticket for job security. Their used to be many uncertified aspirants who managed to bag good jobs. With the job environment today, certification plays important role to get a job.
In case of medical billing one needs to pass from an accredited medical billing program with straight As. The American medical billers association is the perfect platform which conducts examinations for the certificates. There is a huge value for certified medical billers as billing is a complex procedure which an amateur might fail to perform. After the ANBA exam, one can opt for a specialization by attempting the CMRS or certified medical reimbursement specialist exam.
Medical coding also needs the right amount of skills and logical ability in order to convert complex medical data and stats into symbols and store them into the computer. Coding has become really necessary in times like today where healthcare is rapidly developing and advancing. Many hospitals and private clinics are looking for the best medical coders who can cater to the requirements of a large healthcare organization. The American Academy of Professional Coders board exam is the stepping stone for certification as a medical coder.
Medical Coding Certification Types -
CPC, CPC-H, CPC-P, CIRCC, Specialty
For more details check – Medical Billing and Coding Certification.
Medical coding and billing have a closely resembling certification mechanism but for two separate exams.
Medical Billing and Medical Coding Salary
The medical billing and coding salary vary from one place to another depending on the locations, job loads and even the field in which one is employed in. On an average most medical billers and coders earn average salary of $18 per hour. The bureau of labor statistics predicts that there would be a 20% rise in the medical billing and coding sector by 2018. The pay for both billing and coding could be between $22500 and $45,000. The max salary has the potential to cross $50,000.
Medical Coding Salary – Salary of Medical Coding professional ranges from $30,000 – $50000 per year according to experience level .
Medical Billing Salary – Salary of Medical Billing Professional ranges form $22,000 – $36,000 per year.
The comparison between two totally different fields is tough considering a lot of similarities in procedures. Medical billing and coding are two different ball games with very interesting mechanisms. Their popularity can only be affected by the interest levels of the aspirants.