Medical Coding is the next booming field in the evergreen pharmaceutical and healthcare industry. Due to the increase in the number of healthcare services, the need for skilled medical coders is increasing day by day. Medical coding is an extraordinary field that offers lucrative career options to healthcare professionals as well as to graduates with a science background. In this blog, we will discuss the great Medical Coding job opportunities also, we will dwell in detail about how to pursue a career in medical coding with proper guidance and training through Medical Coding Certification Courses.
What is Medical Coding?
Medical coding translates healthcare diagnoses, procedures, services, and equipment into universal medical alphanumeric codes. These codes are derived from various sources within the medical record, such as the physician’s notes, laboratory results, radiology findings, etc.
Medical Coding is used in the healthcare industry for various reasons such as research, billing, patient statistics, medical services or assigning a unique code to the equipment used in the treatment procedures of a patient. These medical codes play a vital role in maintaining patient records, tracking patient outcomes, and deciding the notion of medical necessities for reimbursements.
What Does a Medical Coder Do?
A Medical Coder translates the patient care data such as lab reports, patient diagnoses, physician notes, and medical types of equipment into unique alphanumeric codes. Insurance companies and healthcare providers use these codes for billing and maintaining records. Medical coding jobs are available in different institutions such as hospitals, clinics, government agencies, insurance companies, etc. They help in maintaining patient data and ensure the accuracy of the billing process.
Medical Coders who work in insurance companies are responsible for reviewing claims and preventing any errors or frauds. Some Medical coders work as freelancers or work remotely for independent clients or coding companies that offer them flexibility in their work environment and also maintain a better work-life balance.
How to Become a Medical Coder?
The first step to becoming a medical coder is knowing the basics and learning the skills required in the field. Unlike other fields in the healthcare industry, medical coding only requires short-term training. Enrolling in a Medical Coding Certification Course can give a kickstart to your medical coding career journey and help you gain industry-oriented skills and knowledge. But if you are someone who’s juggling various roles and responsibilities at the same time. Many renowned training institutes like CareerInPharma offer Online Medical Coding Certification Courses in India. Such online medical coding courses in India with certifications improve your credentials as well as make you confident to face the challenges in this evergreen field. Once the training is completed, you obtain your certification and start practicing your top-in-demand medical coding skills.
Who Can Become a Medical Coder?
Anyone with a bachelor’s degree in the following streams can become a medical coder:
- BPharma / Dpharma / Mpharma
- MBBS / BDS / BHMS / BAMS / BSMS / BUMS
- BSc or MSc in (BIo / Chemistry / Zoology / Botany )
- Computer Science
- Nursing
- Biomedical
Note: You should have a degree from a recognised college or university.
What Skills are Required in Medical Coding
A Medical Coder needs to have a mixture of technical and soft skills to succeed in this field.
- Detail Oriented
- Team Work
- Understanding of Medical Terminologies
- Proficient in Coding
- Basic Computer Skills
- Good Communication
- Strong and Critical thinking
- Should be able to make Analytical Decisions
- Knowelge of HIPAA guidelines
Who Hires Medical Coders?
Due to the increase in medical services, medical coding is in demand in various sectors of the healthcare industry. Here is the list of organisations and companies that hire Medical coders.
Multi-specialist Hospital Chains:
- Fortis Hospitals
- Max Healthcare
- NarayanaHealthcare
- Appollo Hospitals
Revenue Cycle Manage (RCM) Companies and Medical Coding Companies:
- Visionary RCm
- Omega HealthCare
- Acess Healthcare
- Porteck India Info Services
- GeBBS Healthcare Solutions
- Episource
- CorroHealth
- Episourse
Insurance Companies
- Star Health and Allied Insurance
- Niva Bupa Health Insurance
- ICICI Lombard Health Insurance
- Medi Assist
- Paraount Health Services
- ManipalCigna Health Insurance
Pharmaceutical Companies
- IQVIA
- Paraxel
- Syneous Health
- Icon plc
- Novartis
- Biocon Biologics
- Dr Reddy’s Laboratory
- Thermofisher Scientific
Roles and Salary in Medical Coding
- Medical Coder – 3 LPA to 5 LPA
- Medical Coding Manager – 5 LPA to 12 LPA
- Medical Coding Auditor – 2 LPA to 4.5 LPA
- Coding and Reimbursement Specialist – 3 LPA to 6 LPA
- Billing Analyst – 4 LPA to 7.5 LPA
- Medical Billing Director – 10 LPA to 18 LPA
What is the Scope of Medical Coding?
The healthcare industry is growing day by day, resulting in a need for accuracy and data safety. This increase in the number of healthcare services makes Medical Coding a booming field that offers numerous jobs in various healthcare sectors globally. The number of jobs in Medical Coding is expected to grow by 8% from 2019 to 2029, which is higher than most other jobs in the industry. The global market for medical coding was worth $15.7 billion in 2020 and is expected to reach $24.7 billion by 2027. Many hospitals are using electronic health records, and healthcare spending increases. The demand for skilled medical coders continues to rise, making it a great career choice. Medical coding offers lucrative career options and attractive salary packages with a chance to maintain a better work-life balance and financial stability.
Overview
As the demand for medical coders is increasing day by day, you are guaranteed success in your career if you choose to make a career in Medical Coding. With proper guidance and training, you can achieve your dream job. So, if you are eligible for medical coding, enroll now in the CareerInPharma Online Medical Coding Certification Course and take the first step in your medical coding career journey.
FAQs about Medical Coding
1. Is medical coding a good career option in India?
Yes, Medical Coding is a great career option for those whose interest lies in science and technology. Medical coding offers jobs in diverse fields such as hospitals, clinics, insurance companies, etc.
2. Do I need a medical degree to become a medical coder?
No, A Medical degree is not needed to pursue a career in Medical Coding, but knowledge of medical terminology is necessary.
3. What is the average salary of a medical coder in India?
The average salary in Medical Coding ranges from ₹3 LPA to ₹5 LPA for freshers, and it increases with experience. Roles like Medical Coding Manager or Auditor can more than 15 LPA.
4. How long does it take to complete a medical coding certification course?
Unlike other course in healthcare industry, medical coding certification courses take only 2 to 6 months to complete.
5. Can I work from home as a medical coder?
Yes, Medical coding offeres various work opportunites including remote and work from home opportunities, depending on the organisation policies.
