The healthcare sector was undergoing significant transformations, and for medical coders, this meant great news. Driven by healthcare reforms, a growing elderly population in the U.S., and advancements in medical technology, the Medical Coding Career Outlook 2015 was exceptionally promising. For individuals considering a career in healthcare, or those seeking a stable and growing profession, medical coding presented a compelling opportunity. Data from the Bureau of Labor Statistics (BLS) projected a substantial 22 percent increase in employment for medical records and health information technicians, a category that includes medical coders. This surge highlighted the robust demand and bright prospects within this field.
Let’s delve deeper into the specifics of medical coding. Why was the demand so high in 2015, and what exactly does a medical coder do? Furthermore, how could aspiring professionals capitalize on this favorable medical coding career outlook 2015? Continue reading to uncover the answers to these important questions and gain a comprehensive understanding of this dynamic career path.
The Driving Force Behind the Demand for Medical Coders
The primary catalyst for the heightened demand in the medical coding career outlook 2015 was ICD-10, the International Statistical Classification of Diseases, 10th Revision.
The healthcare industry was mandated to transition from ICD-9, a system that had been in use for 36 years, to the significantly more complex ICD-10 for coding diagnoses, diseases, and medical procedures. The implementation deadline for ICD-10, initially set for fall 2014, was extended to October 1, 2015. This transition created a pressing need for skilled medical coders proficient in the new system.
Medical coding jobs are projected to increase by 22 percent through 2022, indicating a strong medical coding career outlook 2015.
This extended timeline provided healthcare organizations an opportunity to ensure their staff were adequately trained for the intricate demands of ICD-10. Hospitals and clinics prioritized preparation to ensure a seamless transition and to mitigate potential revenue losses. Moreover, there was a strong preference to employ domestic medical coding professionals rather than outsourcing these crucial roles overseas.
Beyond ICD-10 implementation, several other factors contributed to the positive medical coding career outlook 2015. Existing medical billers faced a considerable learning curve in adapting to the new coding system. The sheer scale of expansion from approximately 17,000 codes in ICD-9 to over 140,000 codes in ICD-10 was substantial. Industry experts anticipated a significant drop in coder productivity, potentially by 50-70 percent, immediately following the ICD-10 rollout. Furthermore, predictions indicated a rise in employee turnover as some experienced coders might choose retirement over mastering the complexities of the updated system, further fueling the demand for new professionals.
Decoding the Role of a Medical Coder
What exactly do medical coders do that places them at the heart of healthcare administration and makes the medical coding career outlook 2015 so robust?
In essence, a medical coding specialist is responsible for translating comprehensive patient medical records into standardized codes. These codes are then utilized by insurance providers to process claims and determine the appropriate reimbursement amounts for healthcare providers, including doctors’ offices and hospitals.
Medical coders are indispensable to the financial health of healthcare organizations. Their accuracy and efficiency directly impact revenue cycles and reimbursement rates. Recent reports, highlighted the proactive recruitment strategies of healthcare firms, such as Missouri-based companies offering retention bonuses to medical coders, reflecting the intense competition for qualified professionals and underscoring the favorable medical coding career outlook 2015.
Companies like TrustHCS planned to significantly expand their medical coding teams, aiming to double their workforce within a short period to meet the escalating demand from hospitals and physician practices. Contract medical coding roles offered attractive benefits, including the option to work from home, appealing to individuals seeking flexible work arrangements or better work-life balance.
Pathways to Becoming a Medical Coder
Entering the medical coding field in 2015, and still relevant today, requires specific training and credentials. A post-secondary certificate is generally the minimum educational requirement, coupled with professional certification.
Becoming a certified medical coder typically involves completing coursework in foundational subjects such as anatomy, physiology, and pharmacology. These programs are designed to be accessible, with online options available and completion times often under a year.
Productivity among medical coders is projected to decrease 50-70 percent upon the arrival of ICD-10, further emphasizing the need for trained professionals in the medical coding career outlook 2015.
The cost of medical coding certification can range from $1,000 to $2,000. Organizations like the American Health Information Management Association (AHIMA) have proactively addressed the need for practical experience through apprenticeship programs. These initiatives provide aspiring coders with on-the-job training in healthcare settings, offering a clearer career trajectory and helping to offset training costs. Prospective students were also encouraged to explore financial aid options by completing the Free Application for Federal Student Aid (FAFSA).
Charting a Medical Coding Career Path
The medical coding career outlook 2015 not only promised entry-level opportunities but also pathways for career progression. Earning potential in medical coding can increase with experience and specialization. Coders with experience in hospital settings, handling diverse cases from pediatrics to oncology, often command higher salaries compared to those working solely in physician offices.
Experienced medical coders can advance their careers by taking on roles such as peer reviewers, supervisors, and ultimately, auditors. Furthermore, the skills and knowledge gained in medical coding can serve as a foundation for further education and career advancement within the broader healthcare industry. Credits earned in online medical coding programs can often be applied towards associate degrees in health information technology (HIT) or bachelor’s degrees in health information management (HIM).
Potential career paths in HIT include roles like health information technicians, medical billing specialists, and clinical documentation specialists. HIM careers can encompass positions such as patient information directors, quality management coordinators, and medical practice managers.
Seize the Opportunity in Healthcare
The medical coding career outlook 2015 presented a significant entry point into a stable and rewarding healthcare career. The transformative changes within the medical coding landscape, particularly the implementation of ICD-10, created an opportune moment to enter the field.
With certificate programs achievable in as little as nine months, aspiring medical coders could quickly gain the necessary skills to meet the growing demand resulting from the ICD-10 transition. If you are looking for a career with strong prospects and a clear path for growth in healthcare, now is an excellent time to explore becoming a certified medical coder online.
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*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, [information accessed February 2015] www.bls.gov/ooh/. Employment conditions in your area may vary.
