There are immense opportunities in the field of medical coding. This is due to the advancement taking place in the healthcare sector. The situation created by COVID-19 has altered all healthcare delivery and has made effective revenue cycle management one of the pressing necessities. It has also increased the staffing requirements and other backend services. This is why medical coding has become an inevitable part of the healthcare system and has increased the demand for exports within the healthcare continuum. As per the Bureau of labor statistics in the USA, there will be a great demand for medical coders by leaps and bounds. For example, insurance companies and organizations receiving medical claims are also in dire need of qualified coders. As digital health records are relied on, the demand for medical coding experts will continue to grow. Medical coders’ certifications and experience will help them scale their careers and increase their earning potential. It requires comprehensive training to become a medical coder, and several flexible and short-duration courses are available to become a trained medical coder.
Why is medical coding a lucrative job?
Medical coding is a lucrative career in the healthcare sector. This career has been a significant profession over the years; however, the medical coding industry has expanded since the pandemic. Today medical coding is the most sought-after profession, and the healthcare sector is taking center stage worldwide. As a result, there is a great demand for professionals practicing medical coding in the healthcare sector globally. The pandemic has set a global trend that has led to an increase in demand for medical coders. As a result, the medical offshoring industry globally is witnessing a great uptick. With the surge in demand and the volume of patients, it has become more important for the healthcare industry to hire medical coders.
Why should you study medical coding?
Demand for professional and certified medical coders is gradually increasing with the increase in healthcare needs. These professionals play a key role within the healthcare delivery system. The role of medical coders is to understand all the medical code regulations and payment policies to prepare medical records and even for insurance and billing. This sought-after profession is witnessing great job opportunities, one of the most exciting career opportunities in the current healthcare crisis. There are other reasons why medical coding career is a good choice for you in the current healthcare crisis-
- The medical coding profession is a demanding job.
There is a 40% gap between the supply and demand for professional and certified medical coders, and this gap has been increasing significantly over the years. As per statistics, the employment opportunities for certified medical coders are expected to increase at the rate of 15% by the year 2024, which means that the medical coding profession will be growing and expanding rapidly. There will be an increasing demand for certified and skilled medical coders since these professionals play a key role in the seamless functioning of the healthcare revenue cycle.
- Medical coding is a lucrative career within the healthcare sector
As technology advances, the medical sector data volume is increasing rapidly. So the demand, as well as the salary for expert medical coders, is projected to increase. Medical coding career, therefore, is a lucrative opportunity in the present health care crisis.
- Great career opportunities
With the advent of automation, the medical coding profession is gradually increasing, so the need for analytically skilled medical coders is immense. With the timely intervention of medical coding, the patients and providers will benefit, and the medical coder ensures optimization of the revenue cycle within the healthcare sector.
Medical coders can learn various health care rules such as auditing, compliance, documentation improvement, and practice management, so there are greater opportunities for career advancement for medical coders. In addition, the rules that the medical coders learn will help them to opt for bigger roles in the healthcare sector and roles in the healthcare sector and apply for diverse roles if they want to.
- Medical coding programs help to kickstart your career.
The best thing about becoming a medical coder is that you can kick start your career without wasting time as there are several programs available that take less than a year to learn all the skills of a medical coder and master in this field. Candidates can quickly launch their career within a short time and on lucrative opportunities in their career. The medical coding profession depends on how you have acquired your soft skills and technical knowledge. As a medical coder, acquiring innovative thinking, preservations, and analytical skills is important to develop expertise in your coding journey.
About my company and me
Dr. Santosh Guptha is the current CEO of the MEDESUN and is a leader in the medical coding analysis profession. He is renowned for developing ICD 10 coding tools along with blockchain technology in the domain of healthcare.