Medical bill review can be a pretty lucrative job. And once you learn the basics, it is pretty repetitive. There are some really challenging medical claims that require extensive research from time to time, but overall, the bills get pretty repetitive as you gain experience. But, before you do all of this, you have to learn how to do the job.
But lets get to the important part; how does this apply to you. If you are a newbie, you need to learn and gain the skills you need to be a medical coder. More than likely, you will end up taking an online medical billing course to learn everything you need to know. But, lets figure out how you are going to pay for your education.
Your first step is financial aid. Well, if you go to an offline technical school like Anthem, University of Phoenix, or your local junior college, simply fill our your FAFSA to see how much government aid you can get. There are three basic forms of financial aid:
1. Grants – government aid that you do not have to pay back
2. Stafford Non-plus Loans – loans that start accruing interest after you graduate
3. Stafford Plus Loans – loans that begin accruing interest immediately
It is rare to find an online medical coding course that is eligible for government aid.
The next option is payment plan. This is perfect if you plan on attending an online course that does not qualify for government aid. If you are paying for it out of your pocket, call the company and see if you can work out a payment option so that you do not take a big hit up front and you can get a job immediately once the course is done to pay for the cost of the class. Or, you can just pay for it out of your own pocket. It will cost you $2,000 or more for a quality course.
You can also take out a private loan, but I strongly suggest you do not. The interest rates are very high and there are all types of weird contingencies that along with it.
So your financing options should go like this; grants, non-plus Stafford loans, plus Stafford loans, your money, and private loans.