Medical billing is the method by which a doctor or hospital receives payment for their services. Technically medical billing and medical coding are two different jobs, and are often done by the same person. That’s why training programs often group these skills under a single program “Medical Billing and Coding”.
Medical coding is a unexpectedly complex process. It requires wide medical understanding including various forms of treatment, diseases and different medical codes. Insurance companies use these codes in their investigations and the payment of any related costs. According to the American Academy of Professional Coders (AAPC), medical coders should be familiar with different insurance plans, regulations, compliance, and the coding community.
Hospitals are the largest employers of medical billing and coding professionals. On the other hand, there are also chances to work for health insurance companies, private physicians, medical billing companies, nursing care facilities,pharmacies, as well as work from home.
Medical Billing,Training Requirements and SalaryAccording to American Academy of Professional Coders , there are no specific education requirements to become a medical biller or coder in Florida. But American Association of Professional Coders (AAPC) does recommend that there is a explicit foundation of knowledge and skill set that can best obtained only by enrollment in an ascribed training program. During hiring process employers also prefer to hire those who having formal training at an accredited program. This is mainly significant for medical coding, because a medical coder must have deep knowledge of medical terms and insurance codes, which takes time and effort to learn.
Certified programs offered in Medical Billing and Coding provides a competitive advantage in looking for employment over those candidates having high school diploma or general equivalency diploma. An associate’s degree also facilitate to start at a fairly higher income. A bachelor’s degree in the field of Medical Billing and Coding provides an opportunity to enter the field at a higher level like management or administration positions.
Career OutlookAs per the Bureau of Labor Statistics (BLS), employment projection for Medical Billers and are exceptional with a predictable expansion rate of about 20 percent through 2018. The age of population with increased requirement for health care, along with a development of medical testing across all demographic groups leading to former detection and treatment of disease and illness are the two primary factors responsible for the increased demand of medical billing.
Healthcare organizations are one of the leading employers of medical billing specialists in the country. The need for medical attention is increasing and therefore physicians and hospitals are recognizing the need for a greater number of skilled medical billing professionals.
Medical Billing Salary in FloridaWith the implementation of electronic medical record keeping in medical offices the demand for medical billers has increased to great extent. Therefore there is a raise in the average salary for qualified, skilled professionals. Those who finished the training may find various opportunities to move onward. According to annual surveys conducted by the U.S. Bureau of Labor Statistics and the American Association of Professional Coders, the average salary for all medical billers in the U.S. continued to get higher from 2010 to 2011 in spite of a crashing national economy.
Florida was hit hard by the financial crisis of 2008, and the recovery has been slow. The in house market was especially hit hard, draining the state’s resources and produces downward pressure on many aspect of the economy. Now as the state begins to climb out of this recession, there are a few fields that passed through all the troubles. The medical and health care fields are among them. Although health care continues to develop in nearly every state across America. It is particularly strong in Florida, providing jobs to many residents. As the industry continues to flourish, Florida’s health care professionals are expected to be among the population to carry the state out of recession.
According to the Bureau of Labor Statistics, the salary for a Medical Records and Health Information Technician is $32,350 yearly. Whereas the normal income of Medical Billers in Florida is $32,900 which is somewhat lower than the US. The salary can be higher or lower depending on the area and city.
For Florida residents the health care industry is a tremendous choice specially if you are looking for a momentous occupation in home state. Job security, good salary and benefits offers a striking option for young population of Florida looking for their initial career, as well as experienced professionals who are looking to maximize their potential and earning power.