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Your Medical Billing and Coding Career…Agency or Self Employment?

medical billing and codingIf you are interested in being part of the medical field, but don’t want to be responsible for the lives of patients and don’t want to spend years training, the medical billing and coding career may be for you. In this exciting and growing field, you have the opportunity to earn great money while either working for yourself or working for others.

Working as a Medical Billing and Coding Specialist For an Agency

Working as a medical billing and coding specialist can be a rewarding career for those who are interested in the medical field and enjoy clerical and computer tasks. Hospitals, doctor’s offices, and medical centers hire agencies that provide medical coding services for them. The agency is a type of middle-man or broker, who acts as the liaison between the medical practitioner and you, the medical billing and coding specialist. There are many reasons that an individual might want to work for one of these agencies, security and direction is one. There are some disadvantages to working for an agency as well.

Working for a Medical Billing and Coding Agency – Pros

  • Working for an agency will often guarantee you full time work
  • Workers often have medical benefits and retirement plans
  • You will most likely have all major holidays off and have vacation time
  • If you work in an actual facility, you will have coworkers who can help you learn more and advance in your career
  • Employers will often help you pay for your continuing education
  • You may have the choice of whether you want to work at home or work at the facility

Working for a Medical Billing and Coding Agency – Cons

  • Employers want experienced billing and coding specialists, so you may have a hard time finding a job
  • You may have to relocate in order to find a good job with a good agency
  • Some agencies may require that you have higher levels of education, especially if you do not have a lot of experience.

Being Self-employed as a Medical Billing and Coding Specialist

Being your own boss can be a great feeling, and there are many advantages to owning your own business and taking your medical billing and coding career into your own hands. This is not a decision to be taken lightly though. There are also some downfalls to being self-employed. Take a look at the pros and cons of working for yourself. These apply to any field you happen to be in.

Working for Yourself as a Medical Billing and Coding Specialist – Pros

  • As a medical billing and coding specialist, you have the opportunity to work at home and set your own hours
  • With enough experience, you can ask for more compensation for your work
  • You can work for the people you want to work for

Working for Yourself as a Medical Billing and Coding Specialist – Cons

  • In order to get started in this career field on your own, you must have a good customer base. This means that you will need to have a lot of experience under your belt before you can begin working on your own.
  • Your paycheck will depend on how many customers you can attract- if you have little to no customers, you won’t have a paycheck.
  • The equipment that you will use as a medical billing and coding specialist can be expensive, and you will have to purchase all of it in order to do your job correctly.

Becoming a medical billing and coding specialist can be a rewarding career. If you are thinking about joining this area of the medical field, consider your options. By weighing the pros and cons of both kinds of work, you will be able to find the right medical billing and coding career for you.

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