Why The Value Of Medical Coding Certification Has Increased In Recent Years
In recent years, the field of medical coding has expanded at an exponential rate. This is because as process automation has increased within almost all organizations, manual entry of medical records and information has proved to be a comparatively very slow and time consuming process. Also, computer algorithms cannot understand basic words and their applications such as differences between two different types of surgeries or the meaning of surgery itself. Thus if a unique code is attached to each different type of surgery, the computer can instantly recognize the exact surgical procedure that was followed and can streamline the process that compliments the procedure.
Coding certification has found extensive use within the medical insurance field. As the healthcare field is growing rapidly he demand for professional coders and billers is also increasing. According to the Bureau of Labor Statistics, the projected job outlook for medical records and health information technicians, which includes medical billing and coding professionals, is expected to grow 8 percent from 2019 to 2029. There are several reasons for the increased demand for certified professionals in coding field such as:
1) As the aging population requires more attention and care has increased demand for medical services which in turn has increased the need for more skilled coding professionals
2) Advancement in technology field like use of EMRs (Electronic Medical Records) has increased demand of skilled professionals to ensure the patients information are accurately coded and billed.
3) More remote work opportunities is possible
Thus insurance companies have invested heavily over the years in installing coding systems into their workplaces and naturally they also require coders to run the processes. Larger corporations often hire more people with coding certification than those who are not certified as they cannot be entirely trusted to take care of important processes with maximum efficiency. Thus the demand of people with coding certification has also increased which has indirectly led to an increase in the demand of coding certification in general. And as in recent times the demand for certified coders has increased by a much larger factor than the supply, wage rates have tended to increase significantly across the entire industry. With a set of a passing percentage of 70% and more practical assessment topics the percentage of people passing the examination easily has fallen which has also led to the increase in value of the examination.
The future of medical coding is bright as with a growing medical industry. There is always a need for skilled medical coders in future. So it is better to start the career now.
In recent years, the field of medical coding has expanded at an exponential rate. This is because as process automation has increased within almost all organizations, manual entry of medical records and information has proved to be a comparatively very slow and time consuming process. Also, computer algorithms cannot understand basic words and their applications such as differences between two different types of surgeries or the meaning of surgery itself. Thus if a unique code is attached to each different type of surgery, the computer can instantly recognize the exact surgical procedure that was followed and can streamline the process that compliments the procedure.
Coding certification has found extensive use within the medical insurance field. As the healthcare field is growing rapidly he demand for professional coders and billers is also increasing. According to the Bureau of Labor Statistics, the projected job outlook for medical records and health information technicians, which includes medical billing and coding professionals, is expected to grow 8 percent from 2019 to 2029. There are several reasons for the increased demand for certified professionals in coding field such as:
1) As the aging population requires more attention and care has increased demand for medical services which in turn has increased the need for more skilled coding professionals
2) Advancement in technology field like use of EMRs (Electronic Medical Records) has increased demand of skilled professionals to ensure the patients information are accurately coded and billed.
3) More remote work opportunities is possible
Thus insurance companies have invested heavily over the years in installing coding systems into their workplaces and naturally they also require coders to run the processes. Larger corporations often hire more people with coding certification than those who are not certified as they cannot be entirely trusted to take care of important processes with maximum efficiency. Thus the demand of people with coding certification has also increased which has indirectly led to an increase in the demand of coding certification in general. And as in recent times the demand for certified coders has increased by a much larger factor than the supply, wage rates have tended to increase significantly across the entire industry. With a set of a passing percentage of 70% and more practical assessment topics the percentage of people passing the examination easily has fallen which has also led to the increase in value of the examination.
The future of medical coding is bright as with a growing medical industry. There is always a need for skilled medical coders in future. So it is better to start the career now.