Medical Coding is a growing industry that offers a lot of potential for employers and job seekers alike. For the past few years, this industry has been considered one of the few lucrative job markets. The main task of Medical coders is to apply codes to different healthcare services and procedures and then send them to the insurance companies for payment. Just like any other field, this field also has some advantages and disadvantages that are discussed below, and any firm that wishes to adopt medical coding or any employee who seeks employment in this field must be aware of them.
The primary advantage of this field is the growth rate. Because of the high growth rate, this industry has a high demand for medical coders, and by 2014, it will start to grow faster than the average rate. Thus, it is a lucrative job market for today as well as for the times to come. The second primary advantage of this field is ‘Work from Home’ opportunity. Since most of the employers follow this, the employees have the advantage to work from home conveniently.
Another benefit of medical coding is for the insurance companies who get everything in a specific pattern. The technical language of medicine is converted into an easy language of numbers and codes. Medical coders can specialize in a specific medical field and get a certification for it. They even have opportunities of advancement, depending on their education and continuous trainings etc.
Just like any other field, medical coding also has certain disadvantages. People who want to take up this career must be aware of these disadvantages, so that they can career plan accordingly. First of all, fresh medical coders usually have difficulty in breaking into this industry, since most of the firms have specific experience requirements.
Medical coding might also require you to relocate to another part of the world or another city or state. That way, you might be able to advance in your career but you might have trouble in settling down to a new work and domestic environment.
Medical coding is a relatively new industry, having a lot of potential and scope. However, it must be kept in mind that like any other job market, this market also has certain positives and negatives that an employee has to bear with. People who are considering a career in this field must be aware of these and prepare themselves accordingly.