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The Job Outlook for Medical Billing and Coding Professionals

Medical billing and coding is a constantly evolving field, with changes in technology, healthcare policies, and patient needs. Here are some of the trends and predictions for the future of medical billing and coding from industry experts:

According to a report by Grand View Research, the global medical billing outsourcing market is expected to reach $19.7 billion by 2026, growing at a CAGR of 11.8% from 2019 to 2026.

The Bureau of Labor Statistics predicts that employment of medical records and health information technicians, which includes medical billers and coders, is projected to grow 8% from 2019 to 2029, much faster than the average for all occupations.

According to a report by the American Academy of Professional Coders (AAPC), the most in-demand medical coding specialties in 2021 are evaluation and management (E&M) coding, surgery coding, and interventional radiology coding.

The same AAPC report also found that the highest paying medical coding specialties in 2021 are radiation oncology coding, neurological surgery coding, and cardiovascular and thoracic surgery coding.

The Healthcare Information and Management Systems Society (HIMSS) predicts that the use of AI and machine learning in healthcare will continue to grow, with the potential to improve medical billing and coding accuracy and efficiency.

While these numerical predictions are subject to change based on various factors, they provide insight into some of the trends and growth opportunities in the field of medical billing and coding.

Greater focus on patient experience: As patient-centered care becomes more important in healthcare, medical billing and coding professionals will need to prioritize patient experience. This could involve developing better communication strategies to explain billing and insurance to patients, as well as offering more convenient payment options.

Increased demand for remote work: The COVID-19 pandemic has accelerated the trend towards remote work, and many medical billing and coding professionals are now able to work from home. Experts predict that this trend will continue, with more employers offering remote work options.

Greater use of telemedicine: Telemedicine has become increasingly popular in recent years, and the COVID-19 pandemic has accelerated its adoption. As telemedicine becomes more common, medical billing and coding professionals will need to adapt to the unique coding and billing requirements of virtual visits.

More emphasis on data security and privacy: With the growing importance of electronic health records and other digital healthcare technologies, data security and privacy will become increasingly important for medical billing and coding professionals. Industry experts predict that there will be a greater emphasis on cybersecurity and data privacy in the future.

Overall, medical billing and coding professionals will need to be adaptable and flexible in the face of changing technology and healthcare policies. Those who are able to stay up-to-date with industry trends and best practices will be best positioned for success in the future.

Want to learn more? Check out our 2 beginner's courses "Is Medical Coding For Me?" and "Is Medical Billing For Me?"

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