Pros and Cons of Becoming a Medical Biller

There are close to 135,000 medical billers in the country today. The average pay is around $45,000, which is a bit lower than the national average across industries ($51,000 as of 2021). 

However, this is only part of the full picture. Medical billers can take on advanced courses so they can earn more. And the more experience they gain in the industry, the higher salary they can get. 

What is the Role of Medical Billers in the Healthcare Industry?

A medical biller is responsible for tallying up a patient’s medical treatment and procedures, along with their corresponding costs. They must be well-versed in all healthcare billing codes so they can create and send accurate, complete invoices to collect payments from private pay patients and insurance providers. 

Medical billers may also help patients with payment plans to get financial support for their medical treatments. 

In the digital age, medical billers must be adept with technology because electronic medical billing has become the norm. They must know the ins and outs of medical billing software, making their job easier and minimizing potential mistakes from manual tasks. 

What are the Pros and Cons of Being a Medical Biller and Coder?

Is medical billing the right profession for you? You are the only one who can answer this question, but we can help you make an informed decision with this list of pros and cons.

Pros of Being a Medical Biller 

1. A College Degree is Not Necessary

You don’t need a college degree to become a medical biller because it is a training-based position. A high school diploma or GED will suffice. Basic training for medical billing includes learning the codes used in healthcare, insurance policies, billing, the pros of Medicare, and more. 

Some institutions may also offer training on the basic use of cloud-based platforms. This is more important than ever, considering healthcare institutions use software like BillPro, which is ideal for New York-based medical facilities. 

2. The More You Learn, the More You Earn

Medical billers don’t need a degree, but certifications and training will further expand their knowledge and skillset. Training activities and advanced learning are also leverage for medical billers for promotions or to get higher pay. The $45,000 average salary for medical billers is just entry-level and can increase with time, experience, and specialized training. 

3. Education Can be Done Online

Many of the educational activities and training for medical billing and coding can be accomplished online. This means you can complete your courses on your own time and pace. 

4. Medical Billing Work Can be Done Remotely

Is medical billing worth it? The training and work can be done remotely, especially with the right cloud-based billing software. Many benefits can be gleaned from working at home. For one, you don’t have to travel to and from work and instead use that time for family, friends, and hobbies. 

Cons of Being a Medical Biller

1. Certifications Have to be Renewed

Certifications for medical billers have to be renewed every two to three years, depending on the organization. Each renewal entails extra education credits, which can be quite a hassle to pursue as you’re working full time. 

2. New Codes Mean New Things to Learn

Medical billing requires thorough knowledge of multiple codes, such as the International Classification of Diseases and Current Procedural Terminology. These ensure uniformity and clarity in the industry. Medical billers don’t need to memorize them, but they are still quite complex topics to learn and use every day. Also they have to know modifiers since those change sometimes and new modifiers are being added when it is required to adjust something.  

Impact of Medical Billing on Healthcare Providers

Medical billing is an essential part of the healthcare industry. Healthcare providers need a healthy cash flow to operate. It requires a substantial amount to provide the best care with cutting-edge equipment and highly skilled medical practitioners. 

A medical biller can help ensure that healthcare facilities’ finances remain in the red. And every worker in the institution, from the doctors to the staff and utility personnel, needs to be paid as well. They perform better when they are paid correctly and on time. 

The best thing about medical billing in the digital age is that many reliable systems and platforms have been designed to make these tasks easier. 

What type of medical billing software should medical billers and healthcare providers choose?

Web-Based Portal

A cross-platform tool streamlines the billing process. When you have a web-based portal, anyone can access the tool wherever they are in the world. Even when some of the administrators are working from home, the workflow will not be hampered or delayed in any way. 

Issue Resolution

Any issues or mistakes can be quickly resolved with medical billing software. Errors are immediately detected so they can be reversed, and the mistakes are not reflected in the final billing. This is crucial as even the slightest mistakes can hamper insurance claims and refunds. 

Data Updates

Most medical billing software providers will also administer system updates to reflect new changes or trends in the industry. This way, your processes remain efficient and timely. 

Conclusion

Medical billers are essential assets in the healthcare industry. They help ensure healthcare providers can operate optimally because there are funds from accurate and timely billing and invoicing. 

Medical billers perform best with modern billing software. Get a free BillPro trial here.