Gide of Medical Coding Salary and Career Scope

Medical Coding is the fastest growing career in the healthcare industry. The healthcare industry is undergoing dynamic changes paving for more jobs in the industry. This sector is generating millions of jobs not just in India alone but also in the United States and other developed and developing countries. What is Medical Coding? Medical Coding is a prerequisite for medical billing, filing and claiming medical insurance. It focuses on converting each and every document tracing diagnosis, medical service and equipment into universally acceptable codes. The medical coder extracts the information from patients medical records and converts them into industry standard medical code. What does Medical Coders do? Medical coders are responsible for transferring diagnostic and treatment terms from doctors and other health professionals into coded form for record keeping, use of medical professionals and for billing and insurance purposes. This is obtained by reviewing and analyzing patient’s health records to determine relevant diagnosis and treatment plans for individual patients. This process often requires contact with the providers of a patient’s healthcare in order to ensure proper coding. Medical coders need to have an in-depth grasp of the content of the health records with which they work so that they can find necessary information to properly code the records. Medical coders work in medical fields, insurance companies and software makers catering to healthcare industries. Medical coders are expected to have education in medical terminology, management of databases, coding of data and other courses required in the medical coding position. Salary of Medical Coder: The average salary of a medical coder is ₹263,928. An entry level medical coder with experience of less than a year can expect to earn on an average of ₹206,689 inclusive of tips, bonus and overtime pay. A medical coder with an experience of 1 to 4 years earns an average total compensation of ₹273,301.Medical coding career with an experience of 5 to 9 years of experience earns an average compensation of ₹497,673. An experienced Medical Coder with 10-19 years of experience earns an average total compensation of ₹600,000 Career Scope of Medical Coder: Healthcare industry is the fastest growing industry and hence the career opportunity in this field is massive. The demand for medical coders is increasing day by day. With the growth in the private insurance sector in India, sooner our healthcare industry will also be based upon insurance and we might also need to do medical coding in different areas of healthcare. There are forigh patients visiting India for medical treatments apart from domestic patients, which broadens the scope for medical coders. There are two factors that again make the demand for Coders high. Due to the immediate implementation of ICD-10 (International Classification of Diseases-10th Revision) and EHR (Electronic Health Record), the Healthcare Industry is aggressively looking for trained, efficient, knowledge-able and certified coders. CAC is a tool which helps improve productivity and increase accuracy of the highly critical coding process. Every year healthcare companies operating in India and around the world hire thousands of trained coders from the medical, pharma and other life sciences backgrounds for the Medical coding functions. Companies are providing a very handsome package and proper growth in this industry.