Medical Billing & Coding from Home - Strengths, Weaknesses

Medical Billing & Coding from Home

Medical billing and coding from home is a popular career option for many medical billing and coding professionals. Working from home as a medical coding and billing professional means you have the option to work for an institution or to be your own boss. With adequate work experience and training, you may be able to start a lucrative career in medical billing and coding from home.

Where to Work in Medical Billing and Coding from Home

When you work from home as a medical biller or medical coder, you may still have a boss. A hospital or clinic may allow opportunities to work in medical billing and coding from home, as long as the work is completed accurately and in a timely manner. Insurance providers may also employ specialists who work in medical billing and coding from home, as the basic home-office setup is all they would need. Most employers require at least a year or two of hands-on experience before they will completely trust someone to work in medical billing and coding from home.

However, another career option for medical billing and coding specialists working from home is entrepreneurship. Many medical billing and coding professionals work as consultants or independent contractors, and are not directly employed by any organization. They may see hospitals and clinics as their clients, or as temporary work. However, these medical billing and coding specialists must market themselves and perform other business functions in addition to performing medical billing and coding duties, so there are benefits and drawbacks to this working-from-home option.

With either scenario, an essential step is formal training at an accredited medical billing and coding school. This is where you will learn the skills you need to perform the job functions correctly and efficiently.

Medical Billing and Coding from Home as an Entrepreneur

After gaining real world experience with the medical billing and coding job description, maybe you’ve decided to start your own home-based business. Begin with a thorough evaluation of yourself and your resources. Being a business owner takes a lot of self-discipline since there won’t be anybody looking over your shoulder to make sure work is getting done. You also need sufficient capital to get a business up and running. Also investigate zoning laws in your area to make sure it’s legal to start a home-based business.

Once the decision has been made to move forward with this venture, invest some time in formulating a business plan. This requires careful consideration of a number of factors such as the current market and investments. Researching the market will make it easier to come up with a good marketing plan and an idea of how to advertise your business. Also write down areas of investment. Expect to invest a few thousand dollars for medical coding and billing software, marketing material, business license fees and office supplies.

After zoning laws check out and a good business plan is in place, attaining a business license is the next step. Once all the legal obligations are out of the way, you can finally focus on the actual business side of things by enforcing an effective marketing plan. Determining your services and fees, getting together marketing material and networking are all necessary components of starting a successful home-based business.

Benefits of Medical Billing and Coding from Home

Working in medical billing and coding from home has strengths and weaknesses. The lack of supervision, the comfortable at-home environment, and the lack of workplace surroundings can create both positives and negatives while working from home in medical billing and coding.

Some strengths of medical billing and coding from home include:

  • Schedule flexibility: Setting your own hours usually means getting more sleep and working around other personal commitments.
  • No commute: Working from home means saving drive time, saving money on gas, and saving wear and tear on your automobile.
  • Set your own rules: Medical billing and coding from home lets you work in your own way, without needing to follow office protocols as much.

Some drawbacks of medical billing and coding from home are:

  • More responsibility: At-home coders need to be capable of filling out and submitting claims accurately on their own.
  • Home distractions: If you have a family or a busy home environment, this can be a strong detractor while working from home.
  • Less interaction: Without coworkers, some medical billing and coding professionals may find working from home boring and isolating.

To learn more about medical billing and coding from home or from a traditional work environment, review the medical billing and coding job description, see medical billing and coding salary figures, and read about medical billing and coding certification.