What Is a Billing Specialist?
Billing specialists are responsible for collecting and storing a patient’s medical information for the purpose of ensuring accurate billing. They manage patient billing accounts in order to make sure that health providers are paid for their services. This can involve working with patients to explain insurance coverage, collect co-payments, establish payment plans, and resolve outstanding bills.
Billing specialists must understand the complexities of insurance billing as it is often their job to verify insurance information, submit insurance claims, process insurance payments, and follow up with insurance companies. When accounts are delinquent they are required to perform collection duties such as contacting patients about past due payments, correcting billing mistakes, resubmitting claims to third-parties, and submitting accounts to collection agencies.
Billing specialists typically work in office environments at medical facilities like private practices, hospitals, and clinics. Most work during regular business hours but may also work during the evenings or weekends.
How to Become a Billing Specialist
Those interested in becoming medical billing specialists should earn a certification, diploma, or associate degree in medical billing. In these types of programs, students learn about the healthcare industry as well as important aspects of medical billing such as insurance procedures, payment processing, and account management.
Common courses include health insurance law, insurance operations, physician-based medical coding, medical billing software, physician-based chart auditing, medical terminology, and medical business operations. Students who want to prove their expertise within the field of medical billing may also consider sitting for additional certification examinations.
To succeed in this career one must have solid computer and customer service skills as well as the ability to interpret complicated information. Most billing specialists who are just starting out obtain practical experience through on-the-job training in entry-level positions before advancing to supervisory or management positions.
Billing Specialist Career Outlook & Salary
As more people seek healthcare services and billing procedures in the medical industry become more complex, there will be a demand for qualified individuals who can manage patient accounts. According to the Bureau of Labor Statistics, the employment of bill and account collectors is projected to increase by 19% within the next decade, with more jobs specifically appearing within the healthcare industry. This is due to a growing population that requires more health care services, these types of services becoming more expensive, and an increase in the amount of delinquent accounts.
But even though employment projections are positive, competition for jobs should still be expected. Experienced billing specialists with a relevant educational background, knowledge of the medical industry, and additional certifications will have the best job opportunities.
The Bureau reported that bill and account collectors working in the offices of physicians earned a median annual salary of $33,000 while those working in general medical and surgical hospitals earned $32,080.
