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Excellent Pay Scale for Medical Biller and Coders

Considering a career as a medical billing and coding specialist but wondering about the pay scale? Good news! The Bureau of Labor Statistics, which generally reports on the lower end, has some pretty awesome statistics for medical billing and coding specialists. The average medical billing and coding specialist is currently earning approximately $3 above the national hourly average for healthcare support occupations. When we look at that annually, the figure comes up to about $7,000 above the national average.

Furthermore, the extremely high demand  for medical billing and coding specialists has no end in sight. Even with the economic downturn, the field of medicine and health has continued to prosper. This high demand will ensure that medical biller and coders will continue to earn a promising salary for years to come.

What Factors Affect Medical Billing and Coding Salaries?

Although medical billing and coding will continue to thrive, being healthcare related, there are certain circumstances that can affect the salary of a technician:

  • Location – Although a medical billing and coding specialist can work completely online and residence shouldn’t matter, those who reside in larger cities, such as New York, Houston, Boston, and Chicago, tend to earn significantly higher wages than those live elsewhere. If you are a medical billing and coding specialist who works solely online, you may consider using a New York address or phone number to solidify in your client’s mind that you are worth higher wages. This is a common practice for those who work solely online.
  • Organization – Medical billing and coding specialists who work in larger organizations, such as hospitals and nursing homes, tend to earn a higher wage when compared to those who work in the billing department of a small physician’s office. On the other hand, those who work on their own online and aggressively go after a higher salary, generally achieve it.
  • Experience -  A medical billing and coding specialist who has several years under his or her belt will generally earn a higher salary. This may be due to the confidence that comes with an aged career. In reality, if you are a medical billing and coding specialist who works online, you should be able to earn an enviable income right from the beginning.
  • Certificate or Degree – Although a certificate or degree is not necessary for a medical billing and coding specialist, many doctors and healthcare organizations look to hire individuals who have knowledge and training in the field. According to a survey conducted by the American Academy of Professional Coders (AAPC), a certified coder earns an average of eight to ten thousand dollars more per year than a non-certified coder.

The field of medical billing and coding is ever changing. Because of the emergence of new diseases and medical rules, continuing education is necessary. The best way to earn the highest possible income as a medical billing and coding specialist is to take your career seriously, continue your education, and always promote yourself. If you follow those steps, there should be no lack of work for you in this demanding field.

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