The Future of Medical Billing and Coding
Posted by Oslo Nov 11th 2008, 12:42As with many other medical-related jobs, medical billing and coding careers are on the rise, growing faster than average. According to the US Department of Labor, employment of billing and coding technicians is expected to increase by 18 percent through 2016, mostly due to the increased scrutiny over medical records by the government, insurance companies, regulators and consumers.
In addition, as the population continues to age (Americans aged 65 and older will double in the next 25 years according to the Centers for Disease Control's State of Aging and Health in America), more people will require medical attention. Qualified technicians who can keep accurate records are becoming more and more necessary for hospitals and other medical practices as they try to control their rising costs and try to secure funds from Medicare and Medicaid.
The government has also recently become particularly insistent on certified billing and coding professionals. Additionally, because medical record systems have undergone changes in recent years -- particularly as records are transitioned to exclusively electronic format -- technicians trained in the applicable software are in demand.
According to the Bureau of Labor Statistics, billing and coding employment is projected to increase from 170,000 in 2006 to 200,000 in 2016. Technicians can work not only in hospitals and doctors' offices, but also in clinics, pharmacies, insurance companies, consulting firms, nursing firms and their own small businesses. In fact, because doctors' offices are continuously trying to lower their rising costs, much of the billing work is being outsourced.
