XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> What Kind of Salary Will I Make as a Medical Billing and Coding Specialist? | Medical Billing and Coding Class

What Kind of Salary Will I Make as a Medical Billing and Coding Specialist?

There are a variety of factors that can influence the salary you are able to make as a medical billing and coding specialist. Here’s a few to help you decide if a career as a medical billing and coding specialist is right for you.

Geographical Location

Yep, location, location, location, is still important…even when you are starting your career. Obviously, areas that have a higher cost of living will offer better salaries to the medical coding and billing field, but other factors are involved in location as well. If you choose to work outside the home, at an actual physician’s office or medical institution, larger cities generally pay better salaries. The smaller towns and more rural areas pay less, simply because the offices themselves aren’t as busy. This is why it’s always a good idea to look into working from home, either to supplement your current income or completely. If you pursue your career from home, you’ll be able to work for the larger cities regardless of your location.

Experience…How Long Will it Take to Increase Your Earning Potential

You’re going to have to put a little time in, especially if you work in a hospital or private practice before your salary increases. Working from home may not be an option if you are new in the business, simply because you don’t have any contacts yet and many work at home businesses depend on reputation and referrals. If you market yourself well, using social media and other forms of online advertising, you may be able to jumpstart your business.

According to research conducted by salary.com, the average medical billing and coding specialist can expect to earn between $35,000 and $45,000 per year, full time. Once you put a solid year into your career, you can expect to earn more.

Increasing Your Medical Billing and Coding Salary Within a Niche

Another way to increase your earning potential is to specialize in a certain area of your field. Some options include becoming a Medicare Coder or cancer registry coder. Once you spend some time in the field, you may find yourself leaning toward a particular niche. When this happens, think about becoming a specialist in that area. Having a thorough knowledge in a niche is much more valuable than trying to be everything to everyone.

Promotions…Promotions

We all know that the more responsibility you have, the greater your earning potential. Before accepting a job at a certain medical facility, take time to consider whether there is room to grow. You’ll more likely be much more satisfied with your position if you can see the opportunity for advancement. Generally those who qualify for these types of advancements hold a bachelor’s degree in medical records. Another reason to choose your training carefully.

Regardless of which type of facility you choose to work in, take the time to weigh out your options so you will make the best decision for your medical billing and coding career.

One Response to “What Kind of Salary Will I Make as a Medical Billing and Coding Specialist?”

  1. Apteka Says:

    Amazing post. I fully agree with what you have written.

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