One of the most common questions I am asked is about the future of medical billing. Will it change? Will i be able to find a job in the future? Will my business change?
The answer to them all is yes.
What I envision for the future is a hybrid system compared to what we have now. I don't see the private insurance system going away. EGHP (Employer Group Health Plans) are a big part of this industry. Both the AMA and the insurance companies do not want the system to change, and they are two of the most powerful lobbying groups in the country.
Truth is, I don't really want it to change either. But then something has to be done about the homeless and the working poor. There has to be a stop gap fix to the immediate problem.
What I foresee happening is a system somewhat like Canada and England. Everyone is covered for Emergency and basic services. No insurance needed, working or not, resident or not, you show up and you are covered. Period. This is for basic services.
Beyond that, if you are working, or have the funds available, you have the option to buy supplemental insurance that will pay for services that the very basic insurance will not. Cosmetic and non-emergency services are under this plan. Some will be like HMO's (private hospitals, or home-base hospitals) and others will be for FFS (fee for service) able to go anywhere at any time.
So will we still need billing? Yes, absolutely. Will the industry change. Undoubtably. Keeping up with the trends and continuing education will be a must. Never stop learning. I envision a number of changes over the next decade or more.
So, stay tuned. Let's learn this together.
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Reach me on Twitter @LorettaLea
Author, Medical Billing, Coding, and Reimbursement
A medical billing professional for over 30 years now, I have seen a lot of changes in this field, and there are a lot more on the horizon. Follow me as we see what they mean and for who.