Medical Billing Career
It's hard to know why one person finds a particular job attractive while another person in the same job feels frustrated and unfulfilled. While this may depend on the preference of an individual, there are steps anyone can take to make certain that he or she is finding a satisfying career path before investing time and energy into training and education. If you are considering a medical billing career, then here are some pros and cons to consider.
Pros and Cons of a Medical Billing Career
Pros:
- Electronic claims processing makes it possible to work more effectively and efficiently thereby resulting in faster and higher revenue returns.
- A 9 month or 2 year training program in education can qualify you for a career in medical billing.
- You can choose to work independently, within a billing service, as a sub-contractor, for an employer, as a consultant or trainer.
- Many employers will provide in-house training as well as assist with tuition funds for ongoing education.
- Training can be acquired through home study, post-secondary or vocational schools, community colleges, professional associations or online courses.
Cons:
- Electronic claims processing and coding software have reduced the hours of paperwork and research thereby reducing the need for medical billing employees.
- Career success is a continual process of learning and investing in education to stay current with new and constantly changing regulations, reimbursement issues, and the evolving health care market.
- There is no standardization of training or certification so the burden is on the individual to make informed and careful decisions about his or her career path.
Although one of the most frequently advertised benefits of a medical billing career is the opportunity to work at home, nearly 37% of medical billers work in hospitals. If you choose to explore working from home, you should be ready for the reality that the self-employed tend to earn 70 to 80 percent less than their salaried counterparts in a study conducted for the International Labor Union. Yet, the self-employed report higher degrees of job satisfaction due to the freedom of determining their own schedules.
In summary, it's up to you to determine whether a medical billing career is the path for you. Starting to track your own list of advantages and disadvantages can help you determine what's most important to you in a career and what steps you need to take to reach your goals.