The healthcare industry has changed in dramatic ways over the past decade, but the future is looking bright for Medical Billing and Coding Specialists. According to the Bureau of Labor Statistics, the career is expected to grow 15 percent through 2024 – a much faster rate than average. Still, the occupation can appear mysterious to those unfamiliar with the health and insurance industries.
What is Medical Billing and Coding?
When you visit a doctor, she or he needs to make notes about the treatment or examination you receive. These notes allow your insurance company to know the details it needs to process your medical bill.
Since there are so many types of treatments and examinations, everyday descriptions would make for a bill that’s messy and difficult to read. That’s where Medical Billing and Coding Specialists come in. They translate notes from doctors into a specialized language for medical and insurance industries so the billing process is as easy as possible for everyone.
Why is the industry growing?
In 2015, the medical industry saw a huge change in the way medical billing and coding was required to be performed. A new medical coding standard became mandatory, with a significantly more detailed system of codes required. Since the new system has been implemented, demand for Medical Billing and Coding Specialists to help with the growing workload has exploded.
In addition, our aging population is increasing demand for healthcare services. According to census data, our population’s average age is increasing; that means more demand for testing, treatments and procedures that will all need to be processed by a Medical Billing and Coding Specialist.
Become a Medical Billing and Coding Specialist
With career training in healthcare through IBMC College, you can gain the confidence and hands-on knowledge needed to thrive as a Medical Billing and Coding professional. Visit ibmc.edu or call 1-800-NEW-CAREER for more information, and to start your training at IBMC College in Longmont, Greeley or Fort Collins and get into a career that offers stability for years to come!