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Friday, July 25, 2008

Private: Medical Billing Training

In a broad sense, Medical billing is a profession where you may be responsible for submitting paperwork to insurance companies regarding treatment of a patient in order to receive payment for medical services rendered. You may have opportunities to work on leading technologies in a health care field on the verge of dramatic growth. Get some formal training that help in your Medical billing career.

Career Overview
Graduates with medical billing degrees may prepare reports for insurance and health care offices to coordinate payment for services. They work with software solutions that change medical procedures into codes, simplifying and standardizing the reports that are generated. According to the US Bureau of Labor Statistics, there were 542,000 billing professionals employed in 2006. Automation of processes will slow employment growth in this profession. However, positions will be available to replace retiring workers or those leaving the industry entirely.

Employment Options
Medical billing schools are constantly changing their curriculums to match the industry trends that their students will navigate. Technology is a key component, as more health care facilities are pushing for electronic record-keeping. O*Net OnLine reports the professional titles for this position include Billing Coordinator, Billing Clerk, Accounts Payable Clerk, Billing Specialist, Accounts Receivable Clerk, Administrative Assistant, and Contract Administrator.

Earnings Potential
According to Payscale, medical billing careers offer competitive salaries based on experience. Those professionals with less than one year in the industry typically start out at just over $30,000 per year. Billing specialists with more than twenty years of experience can look to earn almost $40,000 annually. Bonuses for quotas and correct entries can range from $200 to just over $500 per year.

Sources:
Bureau of Labor Statistics
O*Net OnLine
Payscale

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