Online Medical Transcription and Billing Jobs
Medical billers and transcribers have always been in demand. These jobs hold a low bar of entry and offer great schedule flexibility. While these factors may make the jobs very appealing, be aware that they are relatively low paying. According to payscale.com, the average annual salary of a medical biller with less than a year of experience is between $21,000 and $27,000; a medical transcriber can expect a starting salary in the range of $20,000 and $31,000.
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Types
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Contrary to common belief, medical billing and medical transcription are two very different types of jobs. Medical transcriptionists are responsible for transcribing the notes taken during a client consultation using medical terminology. These transcribed notes will then be submitted to the medical center's archives and the patient's medical record. Medical billers on the other hand work in accounting. Medical billers are responsible for processing medical bills using diagnostic codes and submitting the bill to insurance companies.
Benefits
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It takes less than a year to break into medical billing and medical transcription. Medical billing courses typically take less than six months to complete, while medical transcription courses can take nine to twelve months to complete. Many accredited study courses are offered online; therefore travel to a college, university of vocational school is not required. An additional benefit to medical billing and transcription careers are that many employers offer their employees the option of telecommuting. This allows you to cut down on work-related expenses and work from the comfort of your own home office.
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Considerations
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Compared to other professions in the health care industry, medical billing and medical transcription are low paying jobs. There are two benefits to medical billing and transcription: low bar of entry and the ability to work from home. These benefits make these jobs ideal for stay at home moms who wish to contribute $20,000 t o $30,000 to the household income.
However, if you're willing to put in an additional year of schooling and give up working from the comfort of your own home, you can earn a substantially higher salary. For example, the starting salary for a registered nurse is in the range of $38,000 and $55,000 and a physical therapy assistant can earn a starting salary between $31,000 and $42,000. Both of these health care careers can be attained with an Associate's degree, which takes two years of college education to complete.
Employment
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Medical billers and transcriptionists may hold traditional employment through hospitals, nursing homes, private practices and other medical centers. Though many employers based in metropolitan settings may offer telecommuting positions, rural towns are less likely to have caught on to the trend. If you're having trouble locating a local telecommuting position, consider applying to an online based medical billing, coding and transcription agency as they hire employees throughout the country.
Warning
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When looking for a medical transcription or billing job online, beware of scammers. A big tip off that the job posting is requiring you to pay a "processing fee" in order for your application to be considered. Payscale.com reports that medical transcriptionists and medical billers with one to four years of experience earn between $10 and $15 per hour. If a job advertises exorbitant rates for similar work (e.g. $75 per hour) the job is a scam.
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References
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