Medical Billing and Coding Salary Guide

 

 

Medical billing and coding salary is the first point which employees consider before getting into the field. Medical coding and billing is a great career option as such employees are in great demand among the allied health professions. Before going deeper into the real life salary ranges, it must be made clear that medical billing and coding salary levels depend hugely on which part of country you are in, your education levels and the experience you have gained in the past.

medical billing and coding salary by region 1024x746 Medical Billing and Coding Salary Guide

The medical coding and billing salary further depends on how you perform in the coding test (a small test to check your knowledge skills to make sure that the employee is worth for the company); they no more rely on the certifications alone. An employee in this field typically works for 40 hours a week and there are other options of evening or night shifts if somebody works in 24/7 medical setting.

But again this career is very bright going forward and the fact has been proved by the latest information furnished by The Bureau of Labor Statistics (BLS).

Highlights of Medical Billing and Coding Salary as per BLS:

  • the sector would grow by 20% between 2008 to 2018.
  • the mid 50% of billing and coding clerks earn anywhere between $24,290 and $39,490.
  • the lower 10%  earn less than $20,440 a year
  • he upper 10% earn more than $50,060 per year
  • the average annual salary was however around $30,000 per annum
  • the average earnings per institution are:
    • Federal Branch:  $42,760
    • General hospitals:  $32,600
    • Nursing:  $30,660
    • Outpatient centers:  $29,160
    • Physicians offices: $26,210

Moreover the salaries also depend upon which field you are employed in, for example, coders in the field of neuropsychiatry can earn high end salaries. These days generally 2 out of every 5 medical billing and coding professionals are employed. Also, medical billing and coders can easily get anywhere between $10 to $25 per hour by working from home, they just need a list of health care providers to become their customers and a very little capital to get started.

The professionals who work for large institutions such as hospitals or nursing homes reported slightly higher earnings than those in medical offices.

medical billing and coding salary by group size 1024x280 Medical Billing and Coding Salary Guide

Medical Billing and Coding Salary – Conclusions:

Those who like to read and research, coding and billing might be an awesome career for them. There are a variety of career options and a wide range of schools for billers and coders now-a-days. Training for a career in medical billing and coding system is relatively short which allow people to enter the workforce quickly and start earning a big salary. Training focuses on the knowledge of coding standards and systems, as well as medical terminology.

This profession refrain workers to have any direct contacts with patients and they enjoy separate, pleasant and comfortable offices far away from where the patients are administered. So considering the medical billing and coding salary data, this is a good profession to get started with.

Image Credit – www.aapc.com

 

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