The medical billing profession is expected to grow faster than average, according to the Bureau of Labor Statistics. Professionals employed in this occupation can expect to earn between $20,000-$42,000 a year, in addition to benefits and retirement programs if they work for a medical practice or hospital. But before launching your medical billing career, it's important to choose a program and prepare yourself for employment. Here's a guide to breaking into a career in medical billing.
Step 1
Choose a medical billing program. Programs such as Penn Foster Career School offer medical billing programs that can be completed online. Upon finishing the program, you receive a certification of completion, which you can list on your medical billing resume. Since the program is self-paced, it can be completed as quickly as you like.
Step 2
Contact local medical practices to secure an internship. Even a short internship of 3-4 weeks will allow you to gain hands-on experience, which will look good on your resume. Also, once you have an opportunity to demonstrate your skills, the employer may offer you employment pending graduation from your program.
Step 3
Update your resume to incorporate your experience. Once you've completed a medial billing program, update your resume to incorporate your education and skills. Companies like Tele-Work Recruiting offer free sample resumes for medical billing on its website (see Resources). Use the samples for ideas and formatting, but customize to fit your own skills and experience.
Step 4
Start your own medical billing company. Launching your own company provides the flexibility of working from a home office and setting your own schedule. Market your services to local medical practices and hospitals in your area. If companies don't have an immediate need for medical billing assistance, offer to handle overflow work during busy times. If you do a good job, this may assist in securing more stable work with the company.
Step 5
Apply for a permanent on-site position. If you enjoy the stability of a consistent paycheck, apply to medical billing jobs in your area. These jobs are advertised with companies such as Monster and HotJobs (see Resources); just key in "medical billing" in the job search box. You can also call medical offices in your community to inquire about employment, which may land you an unsolicited job.
Skill: Moderate
Tip: Secure a business license if you're launching your own company. You can pick up an application from your city's business department, usually located in the City Hall department. Many cities also offer this information on their websites and charge $50-$100 to process a business license application.
Warning: Don't forget to hold back taxes. As an independent contractor, you will be responsible for holding back taxes. As a general rule, 30-40% is a good amount to hold back, but check with an accountant for an amount specific to your situation.
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