New Career Opportunity: Medical Billing and Coding

Medical Billing and Coding

Healthcare is one of the fastest-growing industries for job seekers. But even if you don’t see yourself in a role involving patient care, know you can still work in this thriving field with a career in medical billing and coding.

In particular, those who are tech-savvy and enjoy the administrative side of things may want to pursue this career path, which includes using technology to help healthcare professionals update medical records and obtain payment for services rendered. 

This career path allows you to work behind the scenes and stay up-to-date with the latest changes in the healthcare system. With medical billing and coding jobs expected to grow by 8 percent through 2029 — double the average national job growth — the following includes a list of emerging career opportunities in this growing field.

Pharmaceutical and Medicine Manufacturing

Medical billing and coding professionals in the pharmaceutical and drug manufacturing industry have diverse roles. They keep records on medications dispensed, store the data for reference, and dispose of old records. On average, these professionals earn up to $66,000 annually.

Taking medical billing and coding classes can help prepare you for this position and includes core units on how to keep, alter, and modify electronic copies. These skills are valuable for medical billing and coding professionals in the pharmaceutical and medicine manufacturing fields since you’ll store your data in digitized formats.

Insurance and Employee Benefits Funds

Working in the insurance and employee benefit funds industry as a coder or biller entails:

  • Processing accurate data of company benefits for all employees in a specific medical institution.
  • Following up patient’s information about outstanding bills.
  • Tracking payments by the insurance providers.
  • Monitoring and correcting rejected claims.
  • Monitoring amounts spent on benefits, including health insurance, fringe benefits, and vacation times.
  • Presenting the records for any update or use in legal proceedings.

Medical billing and coding professionals working in this field earn an average of $51,840 per year. They can also work with support agencies, government institutions, and NGOs.

Scientific Research and Development Services

These medical coders and billers are part of most scientific research studies. That means you need to be adept at teamwork, effective communication, and critical thinking. You must also be a keen observer and be able to record all information regarding:

  • The purpose of the project
  • Particular methodologies used
  • Implementation methodologies used
  • Expected results and significant errors
  • How the team analyzed the data
  • Implication and future research directions
  • Data storage and referencing methods

Scientific research medical billers and coders earn an average of $48,060 per year and work with medical research institutions, both governmental and non-governmental.

Grant-Making and Giving Services

Grantmakers earn an average of $46,840 per year performing roles such as:

  • Recording the information regarding grant proposals for institutions and persons.
  • Creating and managing accurate records on behalf of the grant beneficiaries.
  • Locating forms for modification and reference any time a need arises.
  • Managing and distributing financial reports from funders to beneficiaries.
  • Ensuring the success of the grant by following up with the grantees and the grant-making institutions.

Recap on New Career Opportunity: Medical Billing and Coding

The opportunities that come with medical billing and coding certification are diverse. You can work with the federal executive branch, child care support institutions, law firms, educational institutions, or even as a remote work-at-home coder.

Best of all, you don’t have to attend in-person medical billing and coding classes. With an online training program, you can learn fundamental skills, such as basic math, computer, and communication skills. You also learn myriad medical terminologies and the use of essential office equipment.

Salina is a professional blogger and marketer. She has an excellent talent for writing. She is very much passionate about contributing her ideas on online platforms. Generally, she shared her thoughts on trendy topics such as health, beauty, travel, food, fashion, technology, business, finance, and so on.