Medical billing professionals enjoy one of the fastest growing healthcare careers. That combined with flexible schedules, low stress and solid pay make the profession highly desirable.
The career is well-suited to people who have business or accounting backgrounds and who are detail-oriented. Work entails analyzing medical records and codes related to specific treatments so that hospitals, doctor’s offices and clinics can receive insurance company payments in a timely and accurate manner.
While most medical billing transcriptionists undergo specialized training and receive certification, it is not a requirement. Still, completion of an advanced academic program is a resume high mark and detail that prospective employers afford great significance. Continuing education also plays a large part in securing pay raises and promotions when already gainfully employed.
Medical billing specialists are particularly well served by law and business degrees, as the industry relies heavily on full understanding of complex documents and processes. But to do that, LSAT and GMAT entrance are required to get into a reputable, accredited program. These examinations can be difficult, especially for professionals who have been out of an academic setting for an extended period, and may necessitate a review such as that provided by Chicago GMAT classes and other similar offerings in most medium to large cities.
A business or law degree can assist a medical billing professional by providing advanced instruction on various topics so that there is a solid knowledge base from which value-added skills are drawn. A medical biller with intimate understanding of healthcare rules and regulations will minimize mistakes while ensuring that processing follows the letter of the law. A business management degree assists in making sound decisions that further the mission of the organization in collecting appropriate fees.
Professionals who want to take a path toward supervisory, management or ownership functions will want to strongly consider the benefits presented by a business management education. The more you are able to demonstrate the ability to provide exceptional service, the more likely it will be that an employer or client sees the value presented.
The healthcare industry is expected to experience significant growth in coming years and this will necessitate processing of an ever growing volume of medical billing records. The demand for medical assistance will also likely necessitate the opening of new hospitals, clinics and doctor’s offices which will also increase the amount of billing processing being conducted. Both of these developments are extremely positive indicators of the ongoing and future health of the medical billing industry.
With an advanced degree, medical billing professionals can position themselves well to successfully manage work-related demands so that premium salaries and positions are acquired and maintained for the long run.