If you're interested in pursuing a lucrative new career path with plenty of room for growth, then medical billing and coding could be for you! The health care industry, which provided Americans with over 13 million jobs in 2004 - including nearly half a million for the self-employed - continues to expand; the U.S. Department of Labor's Bureau of Labor Statistics expects health care to account for more new jobs than any other industry by the year 2014. And within that industry, medical billing is one of the most dynamic and in-demand positions, due to the increase in medical claims investigations, the nation's aging population and the continued popularity of outsourcing medical coding and billing by health care practitioners. So how can you make a career in medical billing and coding work for you?

Understanding the Difference between Billing and Coding

The first step involves understanding the difference between billing and coding. Medical billing, the process of submitting claims to insurance companies and government agencies in order to obtain payment for the physician or health care services provider, is closely related to medical coding, which involves using industry code books to translate a patient's medical records into a universal set of letters and numbers in order to facilitate the billing process. There are codes for every medical encounter imaginable, from routine visits with the doctor to tests to surgical procedures. Because of this demand for meticulous attention to detail in medical coding, coders tend to receive a higher hourly wage, but billing is easier to do from home; many individuals choose to learn both in order to increase both their career options and their pay rate.

Taking Steps toward a Career in Medical Billing and Coding

Medical billing and coding both involve a diverse yet similar skill set. If you're interested in billing and coding as an occupation, you will need a strong knowledge of medical terminology, anatomy, proper medical form completion procedures and coding, in addition to being computer literature and able to type at least 35 words per minute. You should also have customer service abilities, since medical billing often involves dealing with patients as well as physicians and other office personnel, and an eye for detail. Remember, accurate, up-to-date medical records are the lifeline of any physician's office, and incorrect billing or coding can lead to costly mistakes with possible legal ramifications; therefore, talented medical billers are prized for both their education and their experience. While formal training may not be a prerequisite in this field, you would be well-advised to take a course in billing and/or coding from an accredited vocational or training school; studying online is another course of action available to prospective medical billers and coders. In two years or less, you can complete your course of training and receive certification, which will increase your pay rate in addition to making you more desirable to potential employers - remember, medical billing is an increasingly competitive field, so you should take every opportunity to set yourself apart!

Expand Your Horizons with a Career in Medical Billing and Coding

With these guidelines, you can easily start down the path to a new career in medical billing and coding. With salaries that range from $30,000/year for beginners to upwards of $100,000/year for experienced professionals, the option to establish your own home-based business and the opportunity to be a part of the exciting and ever-growing health care industry, how can you lose? Look into a career in medical billing and coding today!

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