It’s no
secret that the world population is getting old. Along with this, the demand
for health care services is increasing. This in-turn is having a positive
effect on allied health care services; among them is medical billing and
coding.
Recently
medical billing and coding is gaining popularity, not only because of the
increase in demand for professionals in this field but also because the
training cost to start a career in medical billing and coding is relatively
short and the opportunity to be able to start a career in the health care
service is high.
Medical
billing and coding is a job on the administrative side of the health care
system. It is not directly involved in rendering clinical services. It is more
on handling and managing the revenue cycle of the health care system.
Here’s a
general overview of the medical billing and coding process that is handled by
medical billers and coders.
Verify
insurance policy identification number and information of the patient to
determine if they are eligible for medical services.
Record
service items performed to patients and convert them to the appropriate CPT and
ICD-9-CM standard medical codes.
- Prepare the health insurance reimbursement claims form.
- Submit the health insurance reimbursement claims form.
- Wait for either a settlement of the claim or a rejection.
- Create a report of the status of the claims. For rejected claims, correct problems and issues and resubmit.
- Update the stake holders about the status of the claims.
Throughout
all of these processes the medical biller and coder should always be on top of
the situation and should always update the health care service providers.
Now let’s
talk about the compensation for the medical billers and coders. The average
rate for entry level medical billers and coders is between $13 per hour to $16 per hour.
I hope that this answered your questions
regarding the hourly wage of medical billers and coders. Remember that the
hourly rate will depend on whether you are freelancing or employed in-house. If
you are working as a freelance, your rate will depend on how much you will ask.
