If you have an eye for detail, and you’re looking for a steady job with wage growth potential in the health care industry, medical coding may provide just the career you’re seeking. Demand for medical coders is increasing, and the field is relatively easy to break into, requiring just a few months of instruction for students in medical training programs in NYC.
Medical coders provide a critical service to the health care industry. Medical coding professionals convert patient records into standardized codes used by insurers to determine payments to hospitals and other health care providers. These codes are also analyzed by health care providers and government agencies for important statistical information concerning illnesses and treatment.
Demand for more coders is being driven by an aging population that requires more health care, increased paperwork demands by insurers, and a changeover to a new, more detailed coding system. The recently adopted ICD-10 coding standard is more detailed than its predecessor, the ICD-9.
The ICD-10 uses more than 140,000 codes, whereas the ICD-9 used just 17,000. The detail required by these new codes is forcing health care facilities to hire more personnel to handle the work of translating patient records into code.
According to CNBC, even in good times there is usually a 20 to 30 percent shortage in medical coders, but the demands of the new coding system may push the shortage up to 50 percent. Even in times of economic adversity, the demand for medical coders is likely to continue to grow because of the vital service coders provide health care providers in obtaining payment from insurers.
According to the Bureau of Labor Statistics, demand for medical coders over the next decade is expected to grow faster than most other occupations. Employers are expected to add 29,000 new medical coding jobs over the coming decade. The BLS says the current median pay for medical coders is around $17.26 per hour. The intense demand for medical coders is expected to drive salaries upward in coming years. Many coders earn high salaries by working on a contract basis for several doctors’ offices or health care facilities.
Although the Great Recession ended years ago, many workers are still seeking steady, good-paying jobs. For workers who have strong attention to detail and good communication skills, and who are suited to an office environment, working as a medical coder can provide an opportunity for stable work with income growth potential. It’s a practically recession-proof field, and medical coders can find work in just about any community around the nation.
When choosing a medical coding training program, prospective students should research potential providers thoroughly. Inquiring into program costs, certifications, and reputation is a good idea, as is talking to graduates of programs under consideration.
ABC Training Center provides training programs for a variety of careers, including medical training schools in NYC. In business since 1972, ABC has an A + rating from the Better Business Bureau and an excellent track record of producing career-ready graduates.