Healthcare Reimbursement: Career and Salary Facts
Explore the career requirements for employment in healthcare reimbursement. Get the facts about education and certification requirements, salary and potential job growth to determine if this is the right career for you. Schools offering Insurance Billing & Coding Specialist degrees can also be found in these popular choices.
What Career Is Available in Healthcare Reimbursement?
As you know, if you have ever walked into a hospital, there are a lot of people doing many different things to make what happens in that building run smoothly. One job is working in healthcare reimbursement. These professionals take pride in making sure everyone in the system who needs payment gets paid. They work with patients, insurance providers, doctors and other medical professionals to see to it that any money owed for tests, surgery, labs or physical therapy gets where it's suppose to. Below is a table listing job facts for employees in this line of work.
|Degree Required||High school diploma or GED|
|Certification||Certified Medical Reimbursement Specialist (CMRS)|
|Key Responsibilities||Secure correct reimbursement for healthcare providers, ensure accuracy and compliance with reimbursement procedures, keep records and serve as a liaison between insurance companies and healthcare providers|
|Job Growth (2014-2024)*||15% for all medical records and health information technicians|
|Median Salary (2015)*||$37,110 for all medical records and health information technicians|
Source: *U.S. Bureau of Labor Statistics
What Type of Work Would I Do in the Healthcare Reimbursement Field?
Healthcare reimbursement is a specialty area of medical records and health information technology. You might work at a state or federal agency, physician's office, hospital or insurance company.
According to job postings from Careerbuilder.com in February 2012, your primary responsibility will be to ensure that proper reimbursement is provided to caregivers for health services, according to billing agreements or contractual guidelines. Your duties can also include ensuring accuracy and compliance with procedures, record keeping and serving as a liaison with insurance companies.
What Are the Requirements?
A high school diploma or GED is the minimum education required for most entry-level jobs in healthcare reimbursement, as evidenced by the postings on CareerBuilder.com. You may also need experience and knowledge of the general billing procedures, rules and regulations applicable to the position. Your position may also require good communication and telephone skills, as well as the ability to keep medical information confidential.
The American Medical Billing Association (AMBA) offers the Certified Medical Reimbursement Specialist (CMRS) designation to members who pass an examination covering areas that include fraud and abuse, coding and medical terminology. Associate's degree programs in medical reimbursement and coding are also available online or on-campus at community colleges and technology schools. In addition to general education courses, you will also take major courses in areas such as medical pathology, coding ethics, medical vocabulary and diagnostic coding.
What Is the Job Outlook?
The U.S. Bureau of Labor Statistics (BLS) predicted that employment for medical records and health information technicians, which included the specialty of healthcare reimbursement, would increase by 15% from 2014-2024 (www.bls.gov). Job prospects were expected to be especially good for those with strong computer software skills. The BLS reported that medical records and health information technicians had a median salary of $37,110 in 2015.
What Are Some Related Alternative Careers?
Most related careers in this field only require a high school diploma and on the job training. This would include information clerks and medical transcriptionists. Information clerks are exactly as their name implies, they deal with the public either by phone or in person. They also do typical clerical work, filing, maintaining records and collecting information. Medical transcriptionists need excellent typing skills as they transcribe audio files for doctors and other medical professionals. .A postsecondary award is commonly required for medical transcriptionists.
To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below: