Denville, NJ (PRWEB) May 19, 2013
“Billing and coding specialists have a definite impact on the profitability of practices,” said Chhoda. “Many clinicians maintain a billing and coding department within the clinic, but it may be more financially sound to outsource the task to an independent coding specialist. It’s essential for those who open their own billing service to remain current on billing and coding changes, and be familiar with EMR systems.”
A medical billing and coding career can be operated from virtually any location. Chhoda noted that the medical billing industry is thriving, highly competitive and coders that have experience with an EMR have a distinct advantage. ICD-10 codes are set to replace the old ICD-9 coding in Oct. 2014, providing billing specialists with additional time to prepare for a career in services that will be in demand far into the future.
Billing and coding specialists are responsible for obtaining payment for medical practices for the services they provide. Coders submit reimbursement claims to insurance providers electronically through EMR technology. They will need to be cognizant of the submission requirements for each insurance provider, be knowledgeable of current coding, and track and monitor the status of all claims.
EMR technology facilitates the billing and coding process, but specialists are the key ingredient. An EMR has the ability to identify potential problems and notify the technician before reimbursement claims are submitted, but the specialist is the chef that combines the right ingredients. Knowledge of anatomy, medical terms, and ICD codes are essential to obtain timely reimbursements for clients.
The need for health information technicians has an estimated growth rate of 20 percent through 2018, a number that exceeds all other professions. Depending upon the demographics of the area in which coders work and the number of clients they have, earnings can range from a modest $20,500 to $50,000 per year and those numbers will continue to increase as more practices implement EMR technology.
The need for billing and coding specialists continues to grow and knowledge of the most current ICD codes is just as important as a familiarity with an EMR system. Chhoda’s new information provides specialists with insights into the requirements needed to launch their own billing and coding business as an integral member of the healthcare community.
Chhoda’s office can be reached by phone at 201-535-4475. For more information, visit the website at http://www.emrnews.com.
ABOUT NITIN CHHODA
Nitin Chhoda PT, DPT is a licensed physical therapist, a certified strength and conditioning specialist and an entrepreneur. He is the author of "Physical Therapy Marketing For The New Economy" and “Marketing for Physical Therapy Clinics” and is a prolific speaker, writer and creator of products and systems to streamline medical billing and coding, electronic medical records, health care practice management and marketing to increase referrals. He has been featured in numerous industry magazines, major radio and broadcast media, and is the founder of Referral Ignition training systems and the annual Private Practice Summit. Chhoda speaks extensively throughout the U.S., Canada and Asia. He is also the creator of the Therapy Newsletter and Clinical Contact, both web-based services to help private practices improve communication with patients, delivery better quality of care and boost patient retention.