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Growing Medical Industry Demands Outsourcing Medical Billing and Coding

In recent years, the number of patients seeking medical care has been steadily on the rise. Thanks to an aging population (20% of which is expected to be over age 65 by 2050) and healthcare reforms that have led to a greater number of insured Americans, the medical industry has been absolutely booming. As of 2017, business shows no signs of slowing down.

Because of this continuing increase in medical services provided, the amount of paperwork involved has also grown. Specifically, tasks related to medical billing and coding have started to pile up in offices across the nation, leaving many employees to take on billing work as a secondary focus (often leading to stress and exhaustion). The solution to this, of course, is to hire a dedicated coding and billing team to handle the work.

Although it might seem ideal to have all medical practice employees in the same building, it’s not always feasible. Just like any other company might consider outsourcing its technical support or administrative work to third party companies or independent contractors, a growing number of doctor’s offices are starting to outsource their medical billing and coding tasks.

The Benefits of Outsourcing

For medical practices, there are a variety of benefits to outsourcing medical billing and coding tasks, including the obvious benefit of having the billing done without having to provide additional office space for the employee(s) to work. Rather than having to cross-train existing staff to perform coding and billing as a secondary task, offices can save time and money by simply passing the work on to someone who is already familiar with the process and can give it his or her full attention.

For those trained in medical billing and coding, there are also some unique benefits to taking on outsourced work. A person who needs to work from home due to a disability or a need to stay home with children, for example, can make a good living working as a freelancer doing billing and/or coding from home.

As an independent contractor working remotely, an individual is also usually afforded some flexibility with regard to hours and weekly workload. According to data from medicalbillingandcoding.org, the average salary for medical billing and coding professionals in New York state is approximately $39,970.1 However, the amount a freelance professional can earn may be significantly more or less, depending on how much work he or she is willing (or able) to take on.

Start Your Career in Medical Billing and Coding at ABC Training Center

If you’re interested in the medical field but are a bit too squeamish for the sometimes unpleasant biological aspects of nursing, medical billing and coding might be the perfect career for you. To help you get started, ABC Training Center offers convenient, affordable medical coding and billing courses in NYC.

To learn more about the classes we offer, determine tuition costs, or discuss the admissions process with one of our friendly staff, call us today at (718) 618-5589.

Source

  1. http://www.medicalbillingandcoding.org/salary/new-york/