A medical billing career is a great way to find work in the healthcare field without going back to school.
A medical biller will be responsible for maintaining the accuracy of patients’ accounts and coding and filing claims with insurance providers on behalf of physicians or other health care facilities. As an individual interested in pursuing this exciting profession, you may be wondering how much it costs to become a medical biller. The good news is that there are many low-cost educational programs available that can help you gain the skills required for success in this industry. The following article will provide more information about what it takes to become a successful medical biller, including educational requirements and cost considerations.
1. What Is Medical Billing?
In simple terms, Billing is a system of sending out bills to customers for services made by the practice. This generally occurs after the patient has been seen and treated by a doctor or other medical professional.
Medical Billing involves following all of the rules outlined in the insurance company’s contract with doctors. It also requires you to maintain records of all services provided to patients, regardless of whether or not the insurance company covered the services.
Medical Billing is an essential part of running a practice because it can make you money! Doctors are often reimbursed through collections approximately 30% less than what they bill for. This makes Medical billing an absolute must for every medical, dental, and vision practice.
Medical Billing is often confused with medical coding, but they are two different things.
2. What Does a Medical Billing Professional Do?
Medical billing professionals work mainly in the healthcare field. They are responsible for sending claims to insurance companies and other organizations, ensuring that all proper protocol is followed so that patients get reimbursed quickly. Any issues with the reimbursement process can be brought up using medical coding education, but it will be the responsibility of the medical biller to make sure this happens.
In addition to medical Billing, a medical biller is also responsible for filing claims with Medicare and other organizations so that patients can get reimbursed. They also work with insurance companies to determine which treatments will be covered by the healthcare company, which ones won’t, and how much patients will be reimbursed for visits.
Medical billers are also responsible for creating invoices submitted to insurance companies. They work with different departments within the practice to ensure that all tasks required to run the office are completed accurately and efficiently.
3. Education Requirements Medical Billing Professional
The following is a list of the education required to become a medical biller:
Certification as a Medical Billing Specialist (CMBS) from the American Association of Professional Coders (AAPC)
One-year certificate program in healthcare billing and coding from an accredited institution. This includes completion of 100-125 hours at an approved, accredited school.
Associate degree in Medical billing and coding from an accredited institution. This includes completing about 65-75 credits at an approved, accredited school.
Some states require licensure, while others do not. California requires licensure for this profession, while Texas does not. It is best to consult with the Department of Public Health in your state to determine the regulations that are in place.
4. Average Salary Medical Billing Professional
The average salaries for this profession vary depending on experience, geographic location, and education.The following is an estimated range of medical billing professional salaries:
- $15-26/hr or $30,000-50,000 annually
- $17-34/hour or $35,000-65,000 annually
- $21-43/hr or $45,000-83,000 annually
- $31+/ hour or $61,000 + annually
5. Medical Billing Professional – Certification and Training
The AAPC offers a CMBS certification available in live and online courses. One of the most critical steps in becoming a medical biller is to become certified. This certification is recognized worldwide and will be the best way for the new medical billers to get their foot in the door.
The AAPC offers onsite training that can provide you with hands-on experience while learning about medical Billing. There are also online courses available on the AAPC website.
Another one of the most critical factors is to become certified as quickly as possible. This certification will open doors and allow you to work with different medical billing companies within your area. It will increase the chances that you will be hired because those who hire expect experienced or those who have been through an accredited program to hold this certification.
6. Practice Your Skills With Medical Billing Software
One of the best ways to prepare yourself for the job is to practice using specific medical billing software programs. These programs are available online and will allow you to enter different types of information, which will provide you with hands-on experience when searching for a new position.
If you are wondering about the best available software programs, look for those that AAPC has developed. This will ensure that if your employer requires a specific program to be used, you will be able to pick one up and start using it immediately without any issues or problems. The more time you spend learning this software before an interview, the better your chances of landing a job.
7. Best Medical Billing Software Programs
Some of the best medical billing software programs include:
1. CPT Coding and Reimbursement
The American Medical Association has a CPT book available to all association members. This is one of the essential tools used by a medical biller for future reference. The information provided in this codebook is updated every year during May. This information can be used to help determine the charges for a medical procedure and how much will be reimbursed by insurance companies.
2. Medical Billing Certification Programs
“Many schools offer training in healthcare billing and coding, but before enrolling, you must research the school thoroughly. Some of the things to consider include cost, accreditation, location of the school, job placement rates, and class sizes.”
8. Top Recruiting Companies for a Medical Billing Professional
Some of the top recruiting companies for a medical billing professional include
- AVDATA
- Center source
- Secure One Solution
- Recruiting Consultants International Inc
- AAMT
- Global Knowledge
- IQVIA
- Ready Force
- All Health Network
- Accenture
9. The Job Outlook for a Medical Billing Professional
The job outlook for a medical Billing professional is excellent. According to the Bureau of Labor Statistics, employment for medical billing and coding professionals is projected to grow by 13 percent from 2016 to 2026, much faster than the average for all occupations. This growth is attributed to the increasing use of electronic health records and accurate code procedures and diagnoses.
10. Long Term Employment for a Medical Billing Professional
According to Salary.com, most medical billing and coding professionals enjoy long-term employment with their respective companies. In most cases, the average length of employment is five years or more; however, there are some instances where an individual has enjoyed a tenure with the same company for over fifteen years.
11. Best Schools to Study Medical Billing.
Some of the best schools in this industry include
1. University of Florida – Gainesville, FL
Medical billing & coding training programs offered by the university include a Bachelor of Science Degree with an optional emphasis in medical Billing. This program is accredited through the Commission on Accreditation for Health Informatics and Information Management Education (CAHIIM). This program is offered as a full-time, day program with classes beginning each August.
2. The University of Phoenix – Milwaukee, WI
Medical billing & coding training programs offered by the university include diploma, certificate, and degree programs with different tracks to choose from, including medical billing specialist diploma, Medical Billing, and coding associate degree, medical Billing and coding bachelor degree, a graduate certificate in healthcare management, business administration with a concentration in health care management.
3. Allied Health Institute-West Palm Beach, FL
The university’s medical billing & coding training programs include diploma and certificate program options to choose from. In addition, students have the opportunity to enroll in an accelerated program that can be completed in as little as three months.
4. Medical Billing & Coding Career Certification Training (MBCCC) – Vero Beach, FL
The Medical Billing & Coding Career Certification Training is offered through the Indian River State College Continuing Education Department. This course provides students with the opportunity to gain the necessary knowledge to succeed in the medical billing and coding industry.
The American Health Information Management Association (AHIMA) offers a variety of certification programs, including Registered Health Information Technician (RHIT), Registered Health Information Administrator (RHI-A), Certified Coding Specialist (CCS), and Certified Coding Associate (CCA). These are just some of the best medical billing certification programs.
Some of these certifications can be earned online, while others require formal training sessions. In addition to gaining valuable knowledge and information, earning a certification is an excellent way to improve your marketability as a potential employee or contractor. It demonstrates that you have committed to excellence in the field and that you have met certain levels of knowledge and experience.
Conclusion
Medical Billing is a critical process in the healthcare industry. By becoming a certified medical biller, you can play an essential role in ensuring that patients receive the care they need and that providers are reimbursed for their services. The career path to becoming a medical biller is relatively short and straightforward, and there are many opportunities for advancement within the field. With hard work and dedication, you can build a successful career in medical Billing and make a real difference in people’s lives.
