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2024 Technology Trends Affecting Medical Billing and Coding

The medical industry is constantly shifting with technological changes. The billing and coding sector is the most affected by billing protocol and interactions with patients, healthcare providers, and insurers. Our Medical Billing and Coding students know how important it is to stay current on all the latest medical billing technology developments and trends in healthcare. Below are some of the biggest tech trends impacting the Medical Billing and Coding field for 2024. 

#1. Digitized Medical Histories Are the New Normal 

Electronic health records (EHRs) are fundamental to modern healthcare, making information more accessible. This ease of communication and access is making medical billing more effective. It has made for a more efficient billing process for all. That said, this has also opened up transparency with patients, so you should be mindful of how the billing process changes due to this new freedom. 

#2. AI-Based Techniques 

You might not consider artificial intelligence a significant factor in medical billing, but this technology is changing everyone’s jobs worldwide. This isn’t just about ChatGPT but also utilizing various algorithms to access data and make more intelligent and safer decisions in the medical process. AI allows hospitals to optimize costs while keeping patient care at the forefront.  

If you’re looking for a job in the current landscape, you’ll need to know about the fundamentals of AI. It’s becoming a crucial part of the workplace, so keep informed about AI developments.

#3. New Ways to Pay 

We’re not trying to say that everyone will be using BitCoin to pay for their ER visits. However, there are several ways that we will process payments in 2024, and technology is crucial for medical billing and coding. For example, many people in their 20s have never had a checkbook but know how to access cryptocurrency. Trends like this could significantly affect how people make and process payments. It’s necessary on top of different payment methods that could potentially matter so you won’t be caught off guard.  

#4. Security Concerns and Risks  

With all this digitization, there are new security concerns to worry about. Data leaks and the risk of hacking keep the entire medical industry on its toes. Minimize the vulnerability of your medical billing system by staying up-to-date with changing technology.

This is a short list of what will happen in the future of healthcare, and that’s why we keep our students informed about all the trends affecting their careers. If you’re interested in a career in medical billing and want to stay up-to-date with the latest technology trends, learn more today!