Medical coding is among the fastest growing professions in the healthcare sector. According to the BLS, there will be 22% growth in the employment opportunities available within this field in the next five years.
But wait, where exactly do medical coders work? Which industries actively hire medical coders? Let’s take a look.
One prominent industry you’ll find medical coders at is insurance.
Insurance agencies often require professionals who can verify the authenticity of patient claims and ensure that the information that they receive is complete and accurate. This authentication process helps in processing the payments more efficiently and effectively.
Medical coders employed at insurance agencies are in charge of handling this verification process. They apply their coding knowledge and skills to compare a patient’s treatment procedures with their insurance plan coverage. They also help interpret the technical details listed in the patient’s insurance plans to correctly match them with the services provided by the healthcare facility. Medical coders working at insurance agencies gave an eye for detail and possess the ability to identify any errors and inaccuracies, ensuring that the payment processing isn’t adversely affected.
Law firms also employ medical coders and billers. Billing fraud is a huge issue in the US healthcare industry. It’s reported that between 3% and 10% of healthcare costs are affected by fraudulent activity each year. Incorrect and inaccurate medical billing claims against a healthcare organization can seriously affect their reputation and credibility, even if the billing fraud was unintentional.
This is why law firms hire medical coders and medical billers when investigating fraud claims. The expertise and knowledge offered by coders and billers can help legal authorities determine if the fraud committed was actually unintentional or a malicious activity. Coders and billers who work at or with law firms are expected to be extremely thorough in their search for coding discrepancies. They’re also required to be well-versed in the current laws and regulations regarding medical assistance, such as Medicare and Medicaid.
Information Technology Companies
IT companies also actively seek and employ medical coders. As part of the service management industry, information technology companies are tasked with software development for various types of healthcare facilities. Having professional medical coders on board helps developers verify the accuracy of the programs they develop and ensure that there aren’t any issues with their code detecting ability.
Medical coders employed at IT firms ensure that the programs and software developed by the organization don’t get rejected because of any potential coding errors.
You might be surprised to learn that medical coders also pursue fulfilling careers in the education sector. There’s a growing demand for professional and trained coders, and an urgent need to prepare the future generation for coding and billing challenges.
Licensed medical coders can go on to become educators and impart their knowledge and expertise to new learners. This is a particularly popular option for individuals who’ve been in the medical coding field for several years and have gained plenty of experience.
Elite Career College offers online Medical Coding and Billing Programs to help you advance your career in the healthcare industry. We also offer online Medical Assistant Certificate Program and Pharmacy Technician Certification. Enroll in our medical billing and coding school classes today to get started!