Job Outlook for Medical Billing and Coding Specialists

Job Outlook for Medical Billing and Coding Specialists

Medical billing and coding professionals are essential to the healthcare industry, responsible for processing insurance claims and translating medical records into standardized codes.

Although it’s a promising career, the growing incorporation of AI in the medical field has left many aspiring professionals uncertain about its long-term viability.

If you share this concern, you’ve come to the right place. In this guide, we’ll cover the job outlook for medical billing and coding specialists, providing data, salary expectations, insights into industry trends, and a look at the evolving role of technology in this dynamic profession.

What Does A Medical Billing/Coding Specialist Do?

While both roles fall under the umbrella term of medical records specialists, they are two distinct roles with different responsibilities. 

Medical Billing Specialist Explained

The primary focus of a medical billing specialist is to ensure that the practice receives timely and accurate payment for the services provided by the healthcare professionals. A medical billing specialist handles communication and financial transactions between the provider, the insurance companies, and the patients.

Medical Coder Explained

A medical coding specialist is an expert in translating a healthcare provider’s documentation into standardized alphanumeric codes. Their work is the foundation for the billing process, ensuring that the services provided are accurately reflected for billing and record-keeping.

This is just a brief overview of two roles. Check our comprehensive medical biller vs medical coder comparison for more details 

Job Outlook of Medical Records Specialist

According to the Bureau of Labor Statistics Occupational Outlook Handbook, employment of medical records specialists is projected to grow 9% between 2023 and 2033, which is much faster than the average for all occupations. 

The agency expects about 15,000 job openings each year over the decade as existing workers retire or move to other roles. 

The reasons for this growth include:

• Aging Population and Chronic Disease: As more people require medical care, there are more records to process and claims to submit. Electronic health records (EHRs) and value‑based care models demand accurate coding and billing to capture outcomes and reimbursements.
• Continued Digital Adoption: Healthcare employers are increasingly adopting electronic systems. BLS notes that because of increased digitization, they need qualified people who understand these technologies and can ensure data accuracy.
• Retirement Wave and Shortage Of Coders: Many experienced coders are nearing retirement. Furthermore, the huge gap between entry-level and experienced ones is creating a shortage of skilled professionals, which is driving the industry’s growth.

Salary Prospects and Where The Jobs Are

Medical billing and coding salaries vary by industry, state, and experience. The BLS Occupational Employment and Wage Statistics (OEWS) data reveal wide variation among industries:

Top 5 states with the highest concentration of jobs and location quotients in Medical Records Specialists:

The highest‑paying states for these roles are:

• Washington: ~$64,250
• California: ~$64,070
• Connecticut: ~$63,250
• Maryland: ~$62,930

Still not sure about this role? Here are 10 reasons to start a medical billing and coding.

Are Medical Coders Being Phased Out By Artificial Intelligence?

The AI healthcare market is expected to grow 36.1% by 2030 in the US alone. It is not surprising that people are concerned about AI taking over healthcare roles like medical billers. 

While it is a valid concern, given the numbers, medical records specialists remain in high demand, as seen in projected growth by the BLS. 

Additionally, it is important that aspirants understand that AI is not a replacement for medical billing and coding specialists but a tool to streamline their workflow.

How To Enter The Field

Here’s a quick overview of how to become a medical records specialist:

Education: Many community colleges and technical schools offer certificate or associate‑degree programs in medical coding. However, experience and hands-on skills are more desired by employers. Therefore, it’s best to enroll in a fast-track Medical Billing and Coding Specialist Training Program, like the one provided by CCI Training Center. 

Certification: Credentials such as CPC and ICD-10-CM demonstrate expertise in specific coding systems. Not to mention, employers may require or prefer certification.

Gain experience: Consider internships, externships, or entry‑level positions at hospitals, physicians’ offices, or billing companies. 

Stay updated: The coding landscape evolves with new CPT and ICD codes, value‑based reimbursement models, and AI‑assisted tools. Continuing education helps coders maintain credentials and adjust to industry changes.

Career advancement and transferable skills

Medical billing and coding is not a stagnant career. In fact, it opens doors to several health‑information careers. 

Coders who pursue additional education can advance to:

• Health Information Technologist
• Medical Registrar Roles
• Compliance Auditing
• Denial management
• Revenue‑cycle management

Final Words

Medical billing and coding is a growing, technology‑enhanced career with strong job security. Salaries are competitive and rise with experience, specialization, and certification. 

If you’re analytical, detail‑oriented, and interested in healthcare, this profession offers remote opportunities, career advancement, and a chance to contribute to the efficient delivery of care.