This past year has made many Americans rethink their working lives. Many have grown accustomed to working from home. Others have turned to freelancing (and they likely won’t return to a 9 to 5 job). Above all, many working Americans simply want higher wages.
Medical billing and coding is becoming one of the fastest growing occupations in the country. For those who are looking for greater flexibility, or even just more money, here are 5 reasons why billing and coding might be the perfect career for you.
- A Secure and Growing Job Field
Despite most of the population having returned to work (and with more jobs being added to the economy in 2021), many Americans still suffer from job insecurity. Roughly one third of all Americans are worried about having their hours or benefits cut, or simply losing their jobs altogether. These factors not only create financial uncertainty, but can cause workers to experience physical and psychological health problems.
Medical Billing and Coding is quickly becoming one of the fastest growing occupations in the country. Medical Billing and Coding alone is expected to see an employment growth rate of 8% through 2029 (the healthcare industry as a whole is expected to see 15% growth over the same timeframe). This is largely due to an aging population. By 2030, America will have over 72 million citizens aged 65 or older. Even ignoring this important factor, citizens will always need access to healthcare, making the medical field one of the best options for those who strongly value job security.
- Solid Pay and Earning Potential
According to the BLS, the average salary for jobs in health information and medical billing is just over $44,000 per year, well over the median personal income in the US. More experienced billers and coders typically make $71,000. Those who decide to work as freelancers have the potential to make more, depending on the amount of work they choose to accept. And for medical billers and coders who wish to further advance their position, there are numerous possible certifications that can propel them into a higher-paying position while utilizing much of their current coding expertise.
- The Ability to Learn Quickly and Remotely
For many people, working towards a career in healthcare means years of classes and sizable amounts of student loan debt. In reality, it doesn’t have to take more than 2 years to learn medical billing and coding. Some programs allow you to acquire an associate degree in as little as 18 months. But if looking to get into the field as quickly as possible, a diploma is another great option. A diploma program allows you to focus on the core courses and finish the program in under a year, getting you into your new dream job as quickly as possible! And for those whose lives are already incredibly busy, there’s no need to worry about finding time to attend in-person classes. It’s entirely possible to earn your diploma or associate degree online, on your time.
- A Flexible Work Environment
When considering working in healthcare, it’s easy to picture an exhausted nurse or doctor running on fumes and setting aside their frustrations to help their patients. For those wanting to enter the medical field, these factors may seem incredibly daunting. But if you’re wanting a medical career that offers more flexibility, or you’re not into dealing with patients directly, medical billing and coding might be the best option for you.
Medical billing and coding is one of the more flexible jobs a person can have in the healthcare industry. Many billers and coders have a hybrid workplace arrangement with their management. Half of all billers and coders complete their work 100% remotely (which, again, makes the job ideal for those looking to freelance). While this flexibility is ideal for many people, it’s important to keep in mind that your boss may initially want you to work on-site to ensure you can complete your work in a timely manner. But once you’ve proven your skills, billing and coding can be a fantastic career with a great deal of personal freedom.
- A Rewarding Medical Career, Minus the Stress
Medicine can be a very rewarding field, but it’s not without its challenges. Despite over 70% of physicians reporting some degree of career satisfaction, the healthcare industry is rampant with stress and depression. Job burnout and suicide are all very real factors in the medical field. With all the aforementioned job security, schedule flexibility, and earning potential, it’s no surprise that medical billing and coding is reported as having lower-than-average stress levels, especially for the healthcare industry. All of these factors make billing and coding a great career choice for those who want to help others with less stress in their professional lives.