Medical Coding

Let us see how Luminis Institute of Skills & Training Pvt. Ltd (LIST) is becoming the best medical coding institute in kerala. Medical coding professionals help ensure these codes are applied correctly during the medical billing process. This includes abstracting the information from documentation, assigning the appropriate codes, and creating a claim to be paid by insurance carriers. Luminis Institute, an ISO-Certified, NSDC-approved skill training institution, provides a Certified Medical Coding Professional (CMCP) program and the best medical coding course in Kerala.

Medical coding is the process of the transformation of healthcare diagnoses, procedures, medical services, and equipment into universal medical alphanumeric codes.

According to Labor Bureau, the Medical Billing & Coding sector is expected to grow by 15% between now and 2024. Valued at $15.2 billion in 2019, the global medical coding market will witness a CAGR of 9.6% during the forecast period (2020–2030). The rising incidence of insurance fraud and growing demand to modernize hospital billing procedures are the key growth factors driving the medical coding industry. In addition, almost 30000 job openings are expected in the next seven years in this area. More interestingly, nearly 80% of healthcare businesses in the U.S. are outsourced to India. As a whole, joining a medical coding course in Kerala will open enormous possibilities to achieve career stability, financial security, and academic fulfillment.

As we all know, the COVID-19 pandemic has made tremendous impacts on the healthcare systems around the globe. In April 2020, WHO published the international guidelines for certification and classification (coding) of COVID-19 as the cause of death in 7 languages. In March 2020, the CMS released two Healthcare Common Procedure Coding System (HCPCS) codes that laboratories can use to bill for certain COVID-19 diagnostic tests, including those developed in-house according to the new United States Food and Administration (USFDA) guidelines.

The medical billing and coding sector expects a growth of 15% between 2022 and 2024, as per the data of the Bureau of Labor and Statistics. This will open doors to almost 30,000 jobs in the next seven-year all around the globe. In addition, the American healthcare system is modernizing just as a large portion of the populace enters retirement, and the demand for healthcare professionals who can process crucial data is growing daily. In addition to a large number of job openings in coding and billing, many of these jobs are also highly lucrative. The median salary for coders and billers was $38,040 in 2016—that’s $18.29 an hour when you’re starting. The top 10% of coders across the United States make $62,840 annually, and coders in some states make even more than that. The aging population, an increasing focus on health data and informatics, and the digitization of health records are some of the factors severely influencing the need to become a medical coder. As the health care system turns increasingly to electronic health records, billing and coding specialists who are computer-savvy will have a leg up on the rest of the field.

Being one of the medical coding colleges in kerala, Luminis encourages students to go beyond their limits. The healthcare service outsourcing industry is evergreen, and India is emerging as the hub for healthcare outsourcing. Also, India is the preferred destination for offshoring medical coding. There is an increasing demand for medical professionals across the globe which means there is good job stability and security. In fact, 80% of US companies outsource to India. With exposure to both IT and healthcare, coders find a new avenue to polish their careers. Professionals can work in a secure environment with plenty of growth opportunities, which makes a student gets more attracted to a medical coding course in Kerala. Jobs in Medical Insurance Companies, Reimbursement specialists, Coding specialists, Claims processors/ Claims Reviewers, Patient Account representatives, Medical collectors, and Electronic Claims processors make it possible to provide programs. So, now is the right time to look at a career in coding and find the best medical coding institute in Kerala. The American healthcare system is modernizing just as a large portion of the populace enters retirement, and the demand for healthcare professionals who can process crucial data is growing daily. The average annual salary for a medical coder is $55,923—14.9% above the median salary of all U.S. occupations.

Your search for the best medical coding institute in Kerala ends right here. Drop a mail to us, join hands with us, and let us move forward to make your future prosperous, secured, and fulfilled. We are just one call away from you.