What is Medical Billing and How to Jumpstart Your Medical Career
Medical Billing is the specialty that submits claims to insurance companies to facilitate payments for services provided to patients. Medical billing is an integral part of the healthcare industry. Without the input from medical billers, doctors would have a difficult time getting paid for their services
MEDICAL BILLING CAREER What is Medical Billing and How to Jumpstart Your Medical Career Medical Billing is the specialty that submits claims to insurance companies to facilitate payments for services provided to patients. Medical billing is an integral part of the healthcare industry. Without the input from medical billers, doctors would have a difficult time getting paid for their services. Practice types include: internal medicine, family medicine, psychiatric care, chiropractic care, sole proprietorship, obstetrics and gynecology, pediatrics and many more. 888.822.2923 22952 A LCALDE D RIVE LAGUNA H ILLS, C A 92653 M EDICA LB ILLIN GCOURSE S. C O M To become a Certified Medical Billing Specialist (CMBS), you need to a take a certification exam administered by the Medical Association of Billers (MAB). While the certification specialist designation is not required to get a job as a medical biller, it is certainly recommended. Acquiring the CMBS designation will give your career a boost and help you set your credentials apart from the rest. Places to Work as a Medical Biller: Ì Community hospitals Ì Psychiatric hospitals Ì Long-term care hospitals Ì Federal government hospitals Ì Rehabilitation centers Ì Outpatient clinics Are you Ready to: Ì Start a high-demand medical billing career? Ì Grow in a career that is flexible and family-friendly? Ì Experience the opportunity and reward of being employed in the health care industry, one of the nation’s fastest-growing industries? If you answered yes to even one of the above questions, this short, yet informative medical billing eBook was created especially for you. Keep reading and learn why medical billing may be the perfect career fit for you. Medical Billing Career Facts and Stats from the Bureau of Labor Statistics (BLS) Ì According to the Bureau of Labor Statistics, employment in medical billing careers is projected to grow 20% by 2018. Ì Billing and posting clerks held about 528,800 jobs; 609,600 jobs are projected by 2018. 7 Helpful Tips to Become a Medical Biller Want to start a medical billing career? By doing some legwork beforehand, you can get the information you need to start your career on the right foot. Here are some helpful tips: 1. Know what being a medical billing specialist entails - As a medical billing specialist, you will bill insurance companies for services that have been performed by doctors -- it will be your job to quickly and accurately complete insurance claim forms correctly and manage the overall billing process. You will need to be able to perform basic bookkeeping skills and understand the inner-workings of health insurance. 2. Find out about earning expectations -An important factor when choosing a career is learning about salary potential. You can find out how much you can earn as a medical biller by going online -- the Bureau of Labor Statistics (BLS) provides salary information based on geographic location. Learn if this is an ideal long-term career for you and provides the earning expectation that fits with your needs. 3. Talk to others in the field -You can talk to some medical billing specialists and get their perspectives of what the job is really like. Consider contacting the Medical Association of Billers (MAB) and network with other billers in your area -- you might ask about what a typical day involves, the salary range, what they like best about their jobs, etc. 4. Think about integrating medical coding -Your medical billing career may also involve medical coding tasks. You can give yourself an advantage by combining your medical billing knowledge with medical coding training. This will include a familiarity with medical terminology and medical coding so you can apply the correct codes to the medical services provided -- and be in charge of the entire billing process. 5. Education is the key -You need a solid education and foundation of knowledge to become a medical biller. There are different training options available -- from standalone medical billing courses to full packages that include medical billing, insurance and reimbursement, software instruction and more. Enrolling in a full package can give you a broad range of knowledge that enables you to step right into your role and handle every facet of medical billing. Online courses enable you to learn from home -- keep your current job while you prepare for your medical billing career. 6. Get certified - You can give yourself an advantage in the medical billing field by becoming certified. It shows potential employers that you are serious about your career and gives you extra credentials to stand out. To become certified, you will need to take the Certified Medical Billing Specialist (CMBS) exam -- your medical billing course will give you the foundation you need to pass. 7. Find out about career prospects -Do you want to work in a doctor’s office? Or does a hospital setting or clinic suits you? Learn about your career opportunities -- medical billers are needed in health care facilities nationwide. Find out which area suits you best. Medical Billing Certification – An Important Credential Medical billing certification is vital to obtaining employment within the industry. While most state regulations do not require certification or registration to practice medical billing, most hospitals and physicians offices require job candidates to have it. This is why it makes sense to pursue certification after completing a medical billing program. The Medical Association of Billers (MAB) is a premier training and credentialing association for medical billing and coding. The organization is committed to the developing of medical billing and coding programs centered on the principles of encouragement, excellence, integrity and service. Through MAB, you may become a Certified Medical Billing Specialist® after passing the exam. Certification also promotes ethical, professional medical billing by recognizing proficiency demonstrated by having passed the Certified Medical Billing Specialist® exam. For potential employers, this means that you have taken the steps necessary to advance your education, knowledge and skills. By having certification, you demonstrate that you are serious about the profession, and that you agree to abide by strict ethics and standards of practice. Of course, having an education from an accredited program also helps you stand out in the field. Set Yourself Apart In Medical Billing In any business, there is competition. This is true in the medical billing arena, where independent medical billers and medical billing companies run neck and neck for business. How can you stand out from the crowd and get the attention you want and need from potential clients? Be Competent – Doing a good job, and doing it consistently, can do wonders for your reputation. As clients begin to trust you, they will keep you in mind when colleagues ask for medical billing referrals. Be Dependable – Can clients count on you for accuracy in medical billing? How timely are you in submitting paperwork? Everyone wants to get paid on time… make it happen for your clients. Be Available – When clients have a question, do you return their e-mails or calls promptly, or within the first 24 hours after receipt? Or do you get around to responding… when you can? Being available goes hand-in-hand with being dependable. Be Competitive - The cheapest rates for medical billing services don’t always get the worm. Price your services according to your experience, skills and the estimated amount of time each task will take to complete. Additionally, when you offer quality service and competence, you should be able to command a higher rate. Be Personable and Professional – Some clients want to work with warm, friendly people. Others are strictly business. Adjust your attitude and be flexible to what pleases the client – you will find it easier to get along with them and build their trust. Step by step, you can achieve your business goals and gather a steady stable of clients who look to you for medical billing services – and set yourself apart from the competition. Even More Options for Your Medical Billing Career: Third-Party Billing on the Rise! More doctors nationwide are choosing to contract out or outsource their medical billing needs. This means that professionals training today have even more options to build a solid medical billing career! As a medical billing professional, you will typically provide services to specialty physician groups and primary care practices and process Medicare, Medicaid and private health insurance claims - and working with a third-party billing company is no different. The Department of Health and Human Services defines third party billing companies as “providing a valuable service to providers and suppliers who seek out their help in submitting claims correctly and efficiently. These firms vary greatly, performing a wide variety of services from simply formatting claims for submission to Medicare and private insurance companies to managing the entire ‘business end’ of provider practices.” In addition to seeing that health care providers get paid for their services, billing professionals who work in a third-party billing setting usually offer a wide range of functions. In fact, in this career, you will perform many of the same extensive duties as an in-house medical biller: - Manage patient data - demographic and incurred charges - Prepare insurance claims - Follow up on unpaid claims - Post payments - Bill patients for deductibles and co-insurance - And more Third party billing companies have a long and storied history, but larger-sized billing companies did not become more commonplace until the 1980s when it was required that hospital-based physicians’ services be billed separately. Today, according to statistics by the Healthcare Billing and Management Association (HBMA) third party medical billing companies employ nearly 20,000 people nationwide and process more than 17 million claims per month. Partnering with a third-party billing company can help health care providers increase cash flow and productivity, as well as enable them to concentrate on health care services, not on collecting bills. This means that as a medical biller, you have many options to create a solid future in the health care industry. Joining a third party billing company is yet another way to apply your medical billing training and create the medical billing career you’ve always wanted. (Source: Houston Business Journal, Thora Qaddumi) Allied Student Benefits Student Focused Ì 100% Online, 24/7 Access Ì Live Support Ì Flexible Study for Busy Schedules Ì Finish Quicker and Start You Career Sooner High Quality Education Ì Nationally Accredited Competitive Tuition Ì No Unnecessary Filler Courses that Inflate Tuition Cost – No General Ed Classes to Hold You Back! Ì Interest-Free Payment Plan Available Ì No Additional Fees – Your Tuition Includes Everything You Need Get the support and encouragement you deserve with Allied by your side throughout each step of your training program. Visit www.medicalbillingcourses.com to learn more about Allied’s online, self-paced training or call 888 - 8 2 2 -2 9 2 3. All employment and salary statistics, projections, and information where “(BLS)” is indicated was collected from the U.S. Bureau of Labor Statistics website. Information may be verified by visiting http://www.bls.gov/.