For many students who want to make a difference in healthcare, medical billing and coding is a growing field and a popular choice for those in the field. And as healthcare continues to evolve and more people have access to it, so does the demand for specialized professionals who can keep everything running smoothly behind the scenes. But is Medical Billing and Coding in demand? With the rise of digital health records and the increasing complexity of insurance systems, medical billing and coding has become an increasingly invaluable function within the field. As patients flood healthcare facilities, there’s a greater need for meticulous record-keeping, which has led to a spike in demand for skilled coders and billers.
Current Job Market
According to the Bureau of Labor Statistics (BLS), the employment for medical records specialists is projected to grow 9% from 2023 to 2033 – which is much faster than the average for all careers, “About 15,000 openings for medical records specialists are projected each year, on average, over the decade.” This kind of growth indicates that there will be a steady demand for those skilled workers.
What Drives Demand in Medical Billing and Coding?
- Aging Populations: The aging population brings two stems of demand. First, the existing workers that are growing older that work in the field will retire. Second, the aging population will seek more healthcare than other generations, which in turn generates more patient records and insurance claims.
- Healthcare Digitization: With technology constantly expanding, the medical field is relying more and more on the digitization of health records. The shift to electronic health records (EHRs) has increased the need for professionals who can accurately code and process medical data.
- Insurance Expansion: Insurance is more widely available to people today than before. As more people gain access to healthcare services through government programs and insurance plans, the need for billing and coding services grows.
Career Opportunities and Versatility
Wherever there are electronic health records, a medical biller and coder will follow. You may ask is medical billing and coding in demand at my doctor’s office/hospital/insurance company? The answer is a resounding yes. And many of these jobs can be performed remotely or in freelance positions. According to BLS, the largest employers of medical records specialists are hospitals (state, local, and private), physicians offices, management of companies and enterprises, professional/scientific/technical services, and administrative and support services. Most of these jobs are performed on a computer and most specialists work full time.
Expected Salary
As pulled from BLS in September 2024, the median annual salary of a medical records specialist was $48,780 in May of 2023. With experience and certification, this number can increase, making it a lucrative option for those interested in a healthcare career without direct patient care. These projections do not guarantee a salary but is rather an estimation of what a medical biller and coder can make.
How to Get Started
American National University offers a Medical Billing and Coding diploma program that students can complete in as little as 9 months. Learn how to complete and submit medical insurance forms, maintain medical charts, ethical and legal requirements, and working with sensitive information like patient records. You will also be eligible to take the Medical Biller certification exam through the American Association of Medical Billers (AAMB), or the Certified Professional Coder (CPC) exam through the American academy of Professional Coders (AAPC). Additionally, students are eligible to sit for American Health Information Management Association’s (AHIMA) Certified Coding Specialist (CCS) certification exam or AHIMA’s Certified Coding Associate (CCA) certification exam. In our courses, we will answer yes to the question: is medical billing and coding in demand?
Not only that, but your credits could lead you straight into our Health Information Management associate degree program.
So, is medical billing and coding in demand? Absolutely. With the growing healthcare industry, an aging population, and advances in medical technology, the need for skilled professionals in this field will continue to rise. If you’re considering a career in healthcare that offers flexibility, job security, and competitive wages, medical billing and coding is a great option. To learn more about our program, go to an.edu.
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