Medical Billing and Coding Salary
The average medical
billing and coding salary in the U.S. is $35,010, which
works out to $16.83 hourly. As with many jobs though, there's a
considerable range of average medical billing and coding salaries in
the U.S. For instance, the bottom 10 percent of medical coders earn
$21,240 per year, which works out to approximately $10.21 per hour.
On the flipside, however, are those coders and billers in the top 10 percent range of this field who are taking home as much as $53,430 per year, which then works out to around about $25.69 per hour.
On the flipside, however, are those coders and billers in the top 10 percent range of this field who are taking home as much as $53,430 per year, which then works out to around about $25.69 per hour.
Overview:
Average Medical Billing and Coding Salary
If you are looking for information about the current medical billing and coding salary, it's likely that you are just now thinking about a career in billing and coding, which is a specialization of the larger job area of medical records and health information technicians. The specialization of coding and billing entails that you will have to codify the medical information of patients so that they may be reimbursed.
Medical records and health information technicians who specialize in medical billing and coding are referred to as coding specialists or medical coders. What they do is assign a code to every procedure as well as diagnosis via the use of classification systems software. The purpose of this classification systems software is to figure out the amount that doctors will be reimbursed in the event that a patient has coverage via Medicaid, Medicare or private health insurance. A coding specialist or medical coder might rely on more than one coding system, like ones for long-term care, doctors' offices and ambulatory settings.
Salary By Employer Type
If you are seriously looking at going to school to become a medical coder or applying for a job as one, it is vital that you realize that the kind of employer you have can play a big part with regard to the salary you end up being paid. According to the Bureau of Labor Statistics, the highest-paying employer type is in business, professional, labor, political and similar organizations at $49,710 for a yearly medical billing and coding salary. However, unfortunately there are only 40 medical coders who are currently working in this position.
The second-highest medical billing and coding salary can be found in the federal executive branch (OES designation), where the medical billing and coding salary is $46,090 per year. The good news is that 5300 medical coders currently work in this field, meaning there are more employment possibilities!
The third employer type in terms of medical billing and coding salary rate is grant making and giving services, which pays an average $43,830 per year. They are followed by other support services, at $42,850. Unfortunately the employment figures for these two sectors have not been released. Not far behind is the industry of insurance carriers, which employs 1000 medical coders and pays $42,820 per year.
If you are specifically looking for an industry that employs a lot of medical coders, look for a job in the offices of doctors because they employ 41,450 medical coders. They pay an average medical billing and coding salary of $29,030. The industry of general, medical and surgical hospitals employs even more medical coders with 65,290 at $37,020. Outpatient care centers employ 6,740 medical coders who earn an average medical billing and coding salary of $31,440, and nursing care facilities have hired 13,260 medical coders who are earning $33,380. Specialty hospitals employ 2,340 medical coders, and they earn an average medical billing and coding salary of $39,270 per year.
The employer types that feature a higher medical billing and coding salary are typically the government (the federal executive branch), insurance carriers and political and business organizations. Obviously, the government can afford to compensate their medical coders more than average because they have taxpayer money to rely on to do this. As an added benefit, Government jobs are notoriously secure. Then insurers and political and business organizations only employ a small number of medical coders, allowing them to spread relatively higher compensation across fewer employees. The employer types with the lowest average medical billing and coding salary are the offices of doctors and outpatient care centers, primarily because the work of medical coders there is less stress intensive than in the other locations.
Salary By Location
Location is another aspect of the average medical billing and coding salary that you will have to take into consideration if you are considering a career in this field. Medical coders who are working in the state of New Jersey make an annual salary of $47,050, those working in D.C. (not a state, but an administrative division under the control of the federal government of the U.S.) make $43,140 per year, those working in Hawaii earn $42,430, those employed in Maryland make $40,930 annually, and those in Massachusetts earn $40,230 per year.
The highest-paying metropolitan areas for medical coders are Newark-Union, NJ-PA Metropolitan Division ($52,530 per year); Trenton-Ewing, NJ ($49,580 per year); Edison-New Brunswick, NJ Metropolitan Division ($49,210 per year); San Jose-Sunnyvale-Santa Clara, CA ($46,850 per year); Rochester, MN ($45,940 per year); Camden, NJ Metropolitan Division ($45,060 per year); Bethesda-Frederick-Gaithersburg, MD Metropolitan Division ($44,610 per year); Honolulu, HI ($44,080 per year); Salinas, CA ($43,890); and Napa, CA ($43,670).
Salary By Experience
After you graduate from your medical coder program, you are going to encounter the harsh reality that you will not be earning your peak salary right off the bat! Entry-level medical coders can expect to make an average medical billing and coding salary of just $20,380 per year ($9.80 an hour) on the low end, while the high end medical coder with just up to one year of experience can make up to $40,630 per year ($19.53 an hour).
Intermediate medical coders have greater earning potential. Those with between 1 and 5 years of experience can make $24,440 per year ($11.75 an hour) on the low end, but those on the high end can make $48,260 per year ($23.20 an hour). Medical coders with between 5 and 10 years of experience can earn an annual medical billing and coding salary of $28,840 ($13.86 an hour) on the low end and $53,250 per year ($25.60 an hour) on the high end.
Those working in this field with greater than 10 years of medical coding experience can stand to make an average medical billing and coding salary of $29,530 a year ($14.19 an hour) on the low end and $55,050 per year ($26.47 an hour) on the high end.
If you are looking for information about the current medical billing and coding salary, it's likely that you are just now thinking about a career in billing and coding, which is a specialization of the larger job area of medical records and health information technicians. The specialization of coding and billing entails that you will have to codify the medical information of patients so that they may be reimbursed.
Medical records and health information technicians who specialize in medical billing and coding are referred to as coding specialists or medical coders. What they do is assign a code to every procedure as well as diagnosis via the use of classification systems software. The purpose of this classification systems software is to figure out the amount that doctors will be reimbursed in the event that a patient has coverage via Medicaid, Medicare or private health insurance. A coding specialist or medical coder might rely on more than one coding system, like ones for long-term care, doctors' offices and ambulatory settings.
Salary By Employer Type
If you are seriously looking at going to school to become a medical coder or applying for a job as one, it is vital that you realize that the kind of employer you have can play a big part with regard to the salary you end up being paid. According to the Bureau of Labor Statistics, the highest-paying employer type is in business, professional, labor, political and similar organizations at $49,710 for a yearly medical billing and coding salary. However, unfortunately there are only 40 medical coders who are currently working in this position.
The second-highest medical billing and coding salary can be found in the federal executive branch (OES designation), where the medical billing and coding salary is $46,090 per year. The good news is that 5300 medical coders currently work in this field, meaning there are more employment possibilities!
The third employer type in terms of medical billing and coding salary rate is grant making and giving services, which pays an average $43,830 per year. They are followed by other support services, at $42,850. Unfortunately the employment figures for these two sectors have not been released. Not far behind is the industry of insurance carriers, which employs 1000 medical coders and pays $42,820 per year.
If you are specifically looking for an industry that employs a lot of medical coders, look for a job in the offices of doctors because they employ 41,450 medical coders. They pay an average medical billing and coding salary of $29,030. The industry of general, medical and surgical hospitals employs even more medical coders with 65,290 at $37,020. Outpatient care centers employ 6,740 medical coders who earn an average medical billing and coding salary of $31,440, and nursing care facilities have hired 13,260 medical coders who are earning $33,380. Specialty hospitals employ 2,340 medical coders, and they earn an average medical billing and coding salary of $39,270 per year.
The employer types that feature a higher medical billing and coding salary are typically the government (the federal executive branch), insurance carriers and political and business organizations. Obviously, the government can afford to compensate their medical coders more than average because they have taxpayer money to rely on to do this. As an added benefit, Government jobs are notoriously secure. Then insurers and political and business organizations only employ a small number of medical coders, allowing them to spread relatively higher compensation across fewer employees. The employer types with the lowest average medical billing and coding salary are the offices of doctors and outpatient care centers, primarily because the work of medical coders there is less stress intensive than in the other locations.
Salary By Location
Location is another aspect of the average medical billing and coding salary that you will have to take into consideration if you are considering a career in this field. Medical coders who are working in the state of New Jersey make an annual salary of $47,050, those working in D.C. (not a state, but an administrative division under the control of the federal government of the U.S.) make $43,140 per year, those working in Hawaii earn $42,430, those employed in Maryland make $40,930 annually, and those in Massachusetts earn $40,230 per year.
The highest-paying metropolitan areas for medical coders are Newark-Union, NJ-PA Metropolitan Division ($52,530 per year); Trenton-Ewing, NJ ($49,580 per year); Edison-New Brunswick, NJ Metropolitan Division ($49,210 per year); San Jose-Sunnyvale-Santa Clara, CA ($46,850 per year); Rochester, MN ($45,940 per year); Camden, NJ Metropolitan Division ($45,060 per year); Bethesda-Frederick-Gaithersburg, MD Metropolitan Division ($44,610 per year); Honolulu, HI ($44,080 per year); Salinas, CA ($43,890); and Napa, CA ($43,670).
Salary By Experience
After you graduate from your medical coder program, you are going to encounter the harsh reality that you will not be earning your peak salary right off the bat! Entry-level medical coders can expect to make an average medical billing and coding salary of just $20,380 per year ($9.80 an hour) on the low end, while the high end medical coder with just up to one year of experience can make up to $40,630 per year ($19.53 an hour).
Intermediate medical coders have greater earning potential. Those with between 1 and 5 years of experience can make $24,440 per year ($11.75 an hour) on the low end, but those on the high end can make $48,260 per year ($23.20 an hour). Medical coders with between 5 and 10 years of experience can earn an annual medical billing and coding salary of $28,840 ($13.86 an hour) on the low end and $53,250 per year ($25.60 an hour) on the high end.
Those working in this field with greater than 10 years of medical coding experience can stand to make an average medical billing and coding salary of $29,530 a year ($14.19 an hour) on the low end and $55,050 per year ($26.47 an hour) on the high end.
Certification
An associate degree is what a medical records and health information technician with a specialty in medical coding typically has. The coursework for this profession routinely includes subjects like data analysis, quality improvement methods, database security and management, healthcare reimbursement methods, clinical classifying and coding systems, physiology as well as anatomy, medical terms and health data standards.
However, even if you have an associate's degree for this line of work, the majority of employers will prefer to hire only those who have specific credentials. Lots of organizations provide credentials normally based on something as simple as a credentialing exam. Many of the credentialing programs dictate that participants regularly recertify themselves and submit to continuing education in order to keep the credential.
The American Health Management Association provides credentials for Registered Health Information Technicians; this credential is particularly desired from the standpoint of employers. To receive this particular credential, a person has to graduate from a two-year associate degree program that's received accreditation from the Commission on Accreditation for Health Informatics & Information Management Education. In addition, they also have to pass an AHIMA-managed written exam.
For coding credentials, go to the American Academy of Professional Coders. If you want specialty coding credentials, look to the Professional Association of Healthcare Coding Specialists as well as the Board of Medical Specialty Coding.
To be a medical coder, you must possess skills like effective written and oral communication qualities. This is because they frequently act as liaisons for insurance corporations, healthcare companies and other types of organizations. Those who are good with computer software and technology are going to make a good impression on employers. Finally, medical coders must be willing to continually subject themselves to update their education, as the systems and information they work with will evolve with time.
Employment Prospects
The employment prospects of a medical coder are excellent, as they are projected to grow much faster than average, according to details on the website of the Bureau of Labor Statistics. This means that the prospects for the growth in the field of medical coding are more than 20 percent throughout 2018.
The reason behind this demand in this field is as follows. Number one, the quantity of medical tests is going to increase a lot. In addition, the quantity of medical procedures and medical treatments is going to go up, too. All of these factors are going to increase because of an aging population.
Besides job growth, people in this field can also benefit from the openings that will occur in this industry due to some of the currently working medical records and health information technicians who will be retiring or leaving their jobs prematurely in the coming years.
Career Path
If you want to advance in your career path as a medical records and health information technician who specializes in medical coding, you should get either a bachelor's degree or even a master's degree. You could also go for an advanced specialty certification. If you are a technician in this field and have either a bachelor's degree or a master's degree, you can go on to eventually become a health information manager.
In Summary
Medical coding is a specialty of the medical records and health information technician career. It is a profession that involves a focus on codifying the medical information of a doctor's patients for the purpose of reimbursement. Your duty on this job will be to assign one code to each and every procedure as well as diagnosis by way of utilizing classification systems software. This classification systems software decides just how much the providers of healthcare are going to be reimbursed in the event that a patient should be covered by Medicare, Medicaid or private health insurance. On the job, you will likely utilize different coding systems like those needed for long-term care, doctors' offices and ambulatory settings.
The average medical billing and coding salary of $35,010 is subject to significant variation factors such as experience, location and employer type. If you are serious about a career in this field, you should get at least an associate's degree, but you can also obtain a bachelor's degree or a master's degree later on to get higher pay and added job responsibilities. With the right education you will enjoy excellent career prospects and job security in one of the most stable industries available today.
An associate degree is what a medical records and health information technician with a specialty in medical coding typically has. The coursework for this profession routinely includes subjects like data analysis, quality improvement methods, database security and management, healthcare reimbursement methods, clinical classifying and coding systems, physiology as well as anatomy, medical terms and health data standards.
However, even if you have an associate's degree for this line of work, the majority of employers will prefer to hire only those who have specific credentials. Lots of organizations provide credentials normally based on something as simple as a credentialing exam. Many of the credentialing programs dictate that participants regularly recertify themselves and submit to continuing education in order to keep the credential.
The American Health Management Association provides credentials for Registered Health Information Technicians; this credential is particularly desired from the standpoint of employers. To receive this particular credential, a person has to graduate from a two-year associate degree program that's received accreditation from the Commission on Accreditation for Health Informatics & Information Management Education. In addition, they also have to pass an AHIMA-managed written exam.
For coding credentials, go to the American Academy of Professional Coders. If you want specialty coding credentials, look to the Professional Association of Healthcare Coding Specialists as well as the Board of Medical Specialty Coding.
To be a medical coder, you must possess skills like effective written and oral communication qualities. This is because they frequently act as liaisons for insurance corporations, healthcare companies and other types of organizations. Those who are good with computer software and technology are going to make a good impression on employers. Finally, medical coders must be willing to continually subject themselves to update their education, as the systems and information they work with will evolve with time.
Employment Prospects
The employment prospects of a medical coder are excellent, as they are projected to grow much faster than average, according to details on the website of the Bureau of Labor Statistics. This means that the prospects for the growth in the field of medical coding are more than 20 percent throughout 2018.
The reason behind this demand in this field is as follows. Number one, the quantity of medical tests is going to increase a lot. In addition, the quantity of medical procedures and medical treatments is going to go up, too. All of these factors are going to increase because of an aging population.
Besides job growth, people in this field can also benefit from the openings that will occur in this industry due to some of the currently working medical records and health information technicians who will be retiring or leaving their jobs prematurely in the coming years.
Career Path
If you want to advance in your career path as a medical records and health information technician who specializes in medical coding, you should get either a bachelor's degree or even a master's degree. You could also go for an advanced specialty certification. If you are a technician in this field and have either a bachelor's degree or a master's degree, you can go on to eventually become a health information manager.
In Summary
Medical coding is a specialty of the medical records and health information technician career. It is a profession that involves a focus on codifying the medical information of a doctor's patients for the purpose of reimbursement. Your duty on this job will be to assign one code to each and every procedure as well as diagnosis by way of utilizing classification systems software. This classification systems software decides just how much the providers of healthcare are going to be reimbursed in the event that a patient should be covered by Medicare, Medicaid or private health insurance. On the job, you will likely utilize different coding systems like those needed for long-term care, doctors' offices and ambulatory settings.
The average medical billing and coding salary of $35,010 is subject to significant variation factors such as experience, location and employer type. If you are serious about a career in this field, you should get at least an associate's degree, but you can also obtain a bachelor's degree or a master's degree later on to get higher pay and added job responsibilities. With the right education you will enjoy excellent career prospects and job security in one of the most stable industries available today.
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