5 Benefits of Taking up Medical Coding Training as A Career

The healthcare industry has grown significantly over the past decade, with an increasing demand for healthcare services and professionals. Medical coding has emerged as a lucrative and rewarding profession among the various career options in this field. With the rise of digital healthcare and the need for accurate and efficient medical record keeping, the demand for medical coders has never been higher. Today, medical organizations prefer to outsource their billing department to trained medical coders to ensure their practices’ accuracy, reimbursement, proficiency, and professionalism. If you are passionate about the healthcare industry and love working with numbers, then a career in medical coding may be perfect for you.

In this article, we will explore five compelling benefits of taking up medical coding training as a career and how it can offer you stability, growth, and a rewarding career in the healthcare industry.

Advantages of a Medical Coding Career

Is medical coding beneficial? This is the primary concern of people who want to pursue medical coding as a career. The quick answer is yes; this field has several perks, as mentioned below.

Competent Pay Package

Competitive salaries in the healthcare industry are not limited to physicians and nurses. Medical coding professionals are also highly valued and well compensated for their expertise; hence, medical coding salary is relatively higher. According to the Bureau of Labor Statistics (BLS), the median annual wage for medical records and health information technicians, which includes medical coders, was $44,090 in May 2020. The top 10 percent of earners in this field made more than $71,150 per year.

Job stability and career advancement opportunities

The need for medical coders is not limited to traditional healthcare settings. Medical coders can also find employment opportunities in insurance companies, consulting firms, government agencies, and other related industries. This diversifies the job opportunities available to medical coders and increases their job stability by reducing their reliance on a single industry or organization. Medical coding offers several career advancement opportunities, especially for those willing to continue their education and specialize in specific coding areas. The following are some medical coding career growth paths available for medical coders:

Coding Supervisor or Manager: After gaining experience as a medical coder, individuals can advance to supervisory or management positions, overseeing the coding team’s daily operations.

Auditor: Medical coders can become auditors who ensure compliance with coding regulations and policies. They also provide feedback to coders to improve accuracy and efficiency.

Coding Educator: Medical coders can become educators, training new coders or offering continuing education courses to current coders.

Specialized Coder: Coders can specialize in specific areas such as cancer registry, home health, or hospice, among others. Specialization allows them to gain in-depth knowledge of particular coding areas, which may lead to higher salaries and more career advancement opportunities.

Health Information Management: Medical coders can further their education and become health information management professionals, where they manage patient data, including medical records, insurance claims, and billing.

Flexibility

One of the critical advantages of the medical coding training program is its flexibility. Many online training programs allow students to study at their own pace and schedule.

From workers’ point of view:

• Medical coding allows medical coders to work in various healthcare settings, including hospitals, clinics, physician practices, insurance companies, and government agencies.
• Medical coding can also be done remotely, meaning that medical coders can work from home or anywhere with an internet connection. Remote work is becoming increasingly popular, and medical coding is a career that offers this flexibility. As per the AAPC’s 2022 Medical Coding Salary Study, 51% of respondents work from the comfort and convenience of their own homes.
• Medical coding offers flexible work schedules. Coders can work full-time, part-time, or even as freelancers. 

Medical coding is highly in demand

One benefit of medical coding training as a career is the high demand for skilled professionals in the field. As the healthcare industry continues to expand, so does the need for trained medical coders who can accurately code medical records and ensure that medical claims are processed efficiently. In fact, according to the Bureau of Labor Statistics, employment of medical records and health information technicians, which includes medical coders, is projected to grow 8 percent from 2019 to 2029, much faster than the average for all occupations.

Why is medical coding in high demand?

There are several reasons why medical coding is in high demand.

• One is the increasing use of electronic health records (EHRs) in healthcare facilities. EHRs allow for more accurate and efficient record-keeping, but they also require trained professionals who can navigate complex coding systems and ensure that medical records are coded correctly. This is where medical coders come in – they translate the information in a patient’s medical record into the appropriate codes for billing and reimbursement purposes.
  
  
• Another reason for the high demand for medical coders is the increasing complexity of the healthcare system. As healthcare becomes more specialized and technology advances, medical procedures, and diagnoses become more complex. This makes it more challenging for healthcare providers to accurately code medical records, increasing the demand for skilled medical coders who can ensure that records are coded correctly.
  
  
• The healthcare industry is overgrowing, and it is expected to continue growing in the future. As the population ages and medical technology advances, the demand for healthcare services will increase, creating more jobs for medical coders.

Short training period

Effective communication is crucial to any profession, and the medical coding and reimbursement specialist is no exception. Effective communication skills are crucial for medical coding specialists, as they need to interact with various stakeholders, including physicians, nurses, insurance companies, and patients.

Medical Coding Training Courses

There are various coding training courses for newbies and experienced ones; some of the main courses are:

1. Certified Professional Coder (CPC) Training: The American Academy of Professional Coders (AAPC) offers this course and provides training on medical coding using the CPT, HCPCS, and ICD-10 code sets. It covers medical terminology, anatomy and physiology, and coding guidelines.
   
   
2. Certified Coding Associate (CCA) Training: The American Health Information Management Association (AHIMA) offers this course and provides training on medical coding using the ICD-10-CM and CPT code sets. It covers healthcare delivery systems, pharmacology, and reimbursement methodologies.
   
   
3. Certified Coding Specialist (CCS) course: The American Health Information Management Association (AHIMA) offers this course and covers inpatient and outpatient coding.
   
   
4. Certified Inpatient Coding (CIC): The CIC exam covers diagnosis and procedure coding, reimbursement methodologies, data quality, and compliance.
   
   
5. Certified Outpatient Coding (COC): This credential is also offered by AHIMA and is intended to validate the expertise of outpatient facility coders.

Medical coding training certification programs typically cover the following topics:

• Medical coding training courses are designed to teach individuals how to accurately assign these codes using various coding systems, such as ICD-10-CM, CPT, and HCPCS.
• These courses provide a thorough understanding of medical terminology, anatomy and physiology, and coding guidelines.
• This includes learning about HIPAA, the Affordable Care Act, and other laws and regulations that govern the healthcare industry.
• Students learn to work with electronic health records systems, which are increasingly used in medical practices and hospitals.

The training can be provided through various methods, including online courses, classroom instruction, or a combination of both. Many medical coding courses offer practical experience with coding scenarios and real-world medical cases to help students develop their skills.