A Simple Guide To Medical Coding and Billing Salary
Medical coding and billing is a lucrative career. The average medical coder biller salary will range from $18,000 to about $50,000 depending on several factors. Trained candidates have to recognize medical procedures and assign a numerical code to them. This code makes it easier for non--medical insurance underwriters to assess the procedure and bill it for payment through the insurance company. As you may have realized by now, experienced candidates have to know the basics of medical coding and billing and be up to date with the latest billing procedures.
Factors which affect medical coder biller salary rates
There are many factors which affect the salary of a medical coder /biller like:
Experience -- Candidates with less than one year experience may get paid about $18,548 - $36,844 but as they gain experience, the average salary also increases. For example, candidates with 1-4 years of experience can easily get paid about $21,407 - $43,897. Candidates with 5-9 years of experience will get paid about $24,496 - $45,150 and experienced billers and coders get paid an average of $26,481 - $45,611.
Degree -- Most professional coders complete a certificate course in billing and coding. There are also other types of billing and coding courses available like associates degrees and bachelor's degree. Employers prefer to hire trained candidates who have a degree and an internship. They also give preference to candidates who have completed an optional Certification that is offered by the American Academy of Professional Coders (AAPC). New graduates can take the exam after they have completed an accredited course.
Industry -- Trained medical candidates can easily hold down jobs in several industries. For example, the Department of Labor Statistics predicts a 25% increase in demand for trained employees. Experienced candidates may be hired in insurance companies, medical offices, physician's offices, healthcare industries, and hospitals to help in medical billing and coding.
Demand -- A few states have a higher requirement for skilled medical coders and billers. For examples states like California, Texas and Florida have the highest demand for trained medical coders and billers with job vacancies that range from 10,830 to about 17,470 jobs. As a result, trained candidates are more likely to find higher paying jobs in these areas.
Geographical location -- The actual salary for a trained candidate will also vary according to the geographical area. For example, New Jersey offers the higher per hour wage of $24.93 while the District of Columbia offers an equally competitive salary of about $21.45. Comparable rates are also offered by Hawaii, Massachusetts and Alaska.
Please note that these are average salary rates. As the candidate advances in their profession, they will easily get paid more. Along with annual increments, candidates will also get perks like life insurance, medical insurance, 401(k) packages, paid holidays, sick leave, and educational reimbursement.
Factors which affect medical coder biller salary rates
There are many factors which affect the salary of a medical coder /biller like:
Experience -- Candidates with less than one year experience may get paid about $18,548 - $36,844 but as they gain experience, the average salary also increases. For example, candidates with 1-4 years of experience can easily get paid about $21,407 - $43,897. Candidates with 5-9 years of experience will get paid about $24,496 - $45,150 and experienced billers and coders get paid an average of $26,481 - $45,611.
Degree -- Most professional coders complete a certificate course in billing and coding. There are also other types of billing and coding courses available like associates degrees and bachelor's degree. Employers prefer to hire trained candidates who have a degree and an internship. They also give preference to candidates who have completed an optional Certification that is offered by the American Academy of Professional Coders (AAPC). New graduates can take the exam after they have completed an accredited course.
Industry -- Trained medical candidates can easily hold down jobs in several industries. For example, the Department of Labor Statistics predicts a 25% increase in demand for trained employees. Experienced candidates may be hired in insurance companies, medical offices, physician's offices, healthcare industries, and hospitals to help in medical billing and coding.
Demand -- A few states have a higher requirement for skilled medical coders and billers. For examples states like California, Texas and Florida have the highest demand for trained medical coders and billers with job vacancies that range from 10,830 to about 17,470 jobs. As a result, trained candidates are more likely to find higher paying jobs in these areas.
Geographical location -- The actual salary for a trained candidate will also vary according to the geographical area. For example, New Jersey offers the higher per hour wage of $24.93 while the District of Columbia offers an equally competitive salary of about $21.45. Comparable rates are also offered by Hawaii, Massachusetts and Alaska.
Please note that these are average salary rates. As the candidate advances in their profession, they will easily get paid more. Along with annual increments, candidates will also get perks like life insurance, medical insurance, 401(k) packages, paid holidays, sick leave, and educational reimbursement.
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