Medical Coding

Medical coding is the process wherein the government and industry, the two bodies that pay for the majority of healthcare, can agree to pay for medical procedures in an organized way. Medical procedures are pre-agreed between the insurance industry and the AMA, and the list forms the basis of the medical coding system, wherein procedures are coded on the patients’ records and these correspond to billing information.

Medical coding specialists need computer skills, good manual dexterity and visual acuity, attention to detail, all around solid communication skills, strong ethical and confidentiality standards due to the sensitive nature of their work, and good organizational skills.

Education and Credentials Required
While most physicians require a high school diploma of their medical coding specialists, most employers would like the candidate to have some formal training in medical billing and basic anatomy and medical terms. This can be gotten through vocational/technical high schools, one-year postsecondary certificate programs, and two year associates degree programs.

Future Prospects
Employment opportunities for medical coding specialists are expected to increase much faster than the national average. In fact, it will be one of the fastest-growing occupations at least through 2012. Job growth will be stimulated by the expansion of the health care industry. Job prospects are significantly better for people with formal education and/or training, certification, and experience.

Salary Range
The median hourly rate for medical coding specialists varies from $1 to $40, depending on qualifications and experience. Self-employed medical coding specialists can expect to earn significantly more than salaried medical coding specialists. Experience, location, skill, reputation, hours worked and other factors impact income. Medical coding specialists may pay for their own health benefits and retirement benefits, if they are either self-employed or temporary workers