If you are looking for a new career that is both viable and in-demand, Medical Coding and Billing is one that affords an essential position within a healthcare facility such as a hospital or a doctor’s office. There are several schools that offer this program, whereby students can obtain their Diplomas, Associate’s or Bachelor’s degree as preparation to enter the work force.
Billing and Insurance Coding
Also called Health Information Technology, the career consists of billing and insurance coding within the medical office environment. With both tasks usually performed by the same person, they require a familiarity with various protocols, such as medical codes that correspond with the vast quantity of treatments for illness and disease.
The Importance of Medical Billing
Medical billing is an essential element in the business of medical care as it ensures payment for treatment given to each specific patient a doctor or hospital. An assigned code is given by the patient’s insurance company, which is a requirement for processing the claim, whereby the healthcare service is then notified of acceptance or denial. This type of insurance coding ensures that the patient’s medical procedure or visit is accurately submitted to the insurance company, complete with the correct insurance code for processing.
Familiarity With Codes, Insurance Plans, Regulations, and Guidelines
Through the use of codes, insurance companies can control and organize both investigation and payment. Medical coders must be familiar with these codes, as well as the varying types of insurance plans. Additionally they must be up-to-date with regulations, compliance, and the three resource books associated with coding: CPT®, HCPS Level II, and ICD-9-CM along with their varying guidelines and other exigencies that apply.
Understanding the Protocols
As a medical billing specialist, you are required to transcribe the doctor’s notes, as well as accurately notate the results of lab tests, imaging studies, and other protocols in order to verify accomplished work so that the appropriate claim can be processed. Collecting and collating this relevant information for payment is the precursor to creating a bill for services, which then is forwarded to the correct person or organization. A medical billing specialist will also be responsible for maintaining billing records, handling any necessary follow-ups, and inputting all information relating to the patient in a database.
Understanding the Protocols
A coding specialist is responsible for assigning a particular code based on the specific classification system used by insurance carriers. Once the claim form is completed and submitted to the insurance provider, it is then reviewed by a processor and approved or denied. If it is approved, the insurance company will then reimburse the healthcare provider. If it is denied, the medical biller will need to determine the reason and then notify the healthcare practitioner and create a proper invoice for the patient.
Carrying Out Detailed Tasks
A Medical Coding and Billing professional may also be responsible for the collection of unpaid bills, as well as working with insurance companies to investigate possible fraud if there is any question about claim validity. In short, the career requires a great deal of knowledge and the ability to carry out detailed tasks that are essential to billing and collection.
According to the Bureau of Labor Statistics, employment prospects for Medical Coders and Billers are enjoying a growth rate of approximately 20%, which is believed to remain at this high through to 2018 (“Occupational Outlook Handbook: Medical Records and Health Information Technicians”). This is a result of a burgeoning aging population, increased demand for health care, and a greater proliferation of medical testing that is leading to earlier detection and treatment of illness and disease.
Knowledge Via Accredited Training Programs
Healthcare organizations are recognizing that there is a need for a larger amount of skilled professionals in the Medical Coding and Billing field. And with this need, formal training with an accredited institution is becoming more important than ever. According to the American Academy of Professional Coders (AAPC), the required skill sets for this career should be obtained through accredited training programs (“What is Medical Coding?”).
Your Competitive Advantage
Because employers prefer to hire those with formal training, especially since a deep knowledge of medical terms and insurance codes are required and take time to learn, looking for an accredited institution in which to study is imperative. By obtaining your diploma in Medical Coding and Billing, you have a much better competitive advantage for employment over applicants who only have a high school diploma or GED.
The Florida National University (FNU) Degree or Certificate Program
At Florida National University, you can earn a diploma in the Medical Coding and Billing Specialist program. Upon successful completion of this program you can graduate with the skills and knowledge necessary for a career in this in-demand field.
What to Look For
Most Medical Coding and Billing schools in Florida offer the appropriate coursework for concluding an in-depth education. It is important that you look for the following studies if you intend to fulfill all of the requirements when it comes to the knowledge you need as a professional:
- Medical terminology
- Clinical pharmacology
- CPT coding classification systems and software
- Medical office management
- Insurance claim processing
Additionally, in-the-field practical experience working in hospital or in a doctor’s office setting is advantageous.
Fully Accredited Programs
Our program is designed to give you the educational tools you need for a fulfilling career in Medical Billing and Coding. As a regionally accredited university through the Southern Association of Colleges and Schools Commission on Colleges, Florida National University is able to award you a diploma whereby you have the opportunity to apply for employment with the best possible chances.
Contact Us Today
For more information on our Medical Billing and Coding program, please contact us today!
“Occupational Outlook Handbook: Medical Records and Health Information
Technicians.” United States Department of Labor: Bureau of Labor Statistics. Bureau of Labor Statistics, 07 Aug 2012. Web. 15 May 2013. <http://www.bls.gov/ooh/Healthcare/Medical-records-and-health-information-technicians.htm>.
“What is Medical Coding?.” AAPC. American Academy of Professional Coders, n.d.
Web. 15 May 2013. <http://www.aapc.com/medical-coding/medical-coding.asp&xgt;.