Medical Billing and Coding Salary

Medical Billing and Coding Salary

Looking for a career in medical billing and coding? The median annual salary for professionals in this field is $34,000, or $16 per hour. The range of salaries for the middle 50% of workers is between $31,000 and $36,600. This equates to an hourly pay range between $15 and $18. Employees working in the lowest 10th percentile make on average about $28,600, or $14 every hour. However, those working in the top 10th percentile can make $19 or higher per hour. This adds up to at least $40,500 every year.

Many factors will determine the salaries for such a profession. These may include experience, certification, and geographic location. Professionals with both a bachelor’s degree and the proper certification will rake in a higher income. However, neither of these two are specifically required. Furthermore, geographic location plays a part on salary. States such as Texas and California tend to pay medical coders and billing specialists higher salaries. States in the Midwest tend to provide lower wages.

The average total compensation package for this field after benefits is $51,000. Benefits paid for by an employer may include social security and pension, health care insurance, and vacation time, among others.

Job Description of Medical Billing and Coding

Professionals in the medical billing and coding industry normally work in hospitals, clinics, and medical offices. However, nursing homes also employ such specialists. There are various position to be held in the field include administrative assistant, billing specialist, office manager, and front desk receptionist, to name a few.

With the help of these professionals, patient medical services are coded, billed, and entered into a computer. The invoice is then sent to the patient. Employees must handle insurance claims and account transactions. Overall, the daily tasks of someone in medical billing and coding involves a ton of paperwork.

Training for Medical Billing and Coding

Matching School Ads
  • Ranked among the Best Online Bachelor's Programs in 2015 by U.S. News and World Report.
  • Lets undergrad students try classes before paying any tuition.
  • Has an average class sizes of 18 for undergraduate and 13 for graduate-level courses.
  • Offers numerous scholarship opportunities that can help students save up to $750 per term on their tuition.
  • Tends to educate degree-seeking online and campus-based students who are adult learners with families and students who work while pursuing higher education.

Programs:

  • Medical Billing and Coding Certificate
  • BS in Health Information Management
  • Medical Office Administration

About Brightwood College

Brightwood College offers accelerated programs that combine flexible schedules and professional instruction to create a rewarding learning experience for individuals focused on gaining the skills for specific careers. Brightwood College is owned and operated by Education Corporation of America.

About Education Corporation of America

Education Corporation of America's institutions broaden access to postsecondary educational opportunities.

Programs:

  • Medical Billing & Coding Specialist
Locations: Beltsville

The goal of Virginia College lies in its responsibility to its students, the technical and business communities, and the general citizenry. We have a long history of offering new direction to students.

Programs:

  • DIP - Medical Billing and Coding
  • AAS - Medical Office Administration
Locations: Richmond

At Kaplan University, we offer over 180 degree and certificate programs. With three different ways to learn, you can choose the format that works best for you:

  • Study wherever you have an Internet connection, because almost all of our courses are 100% online, or
  • Take campus-based classes(with day and evening options available), or
  • Combine campus learning with online classes (blended).

Programs:

  • Medical Billing and Coding Certificate
  • Medical Office Administration
  • Associate of Applied Science:Office Management
Locations: Hagerstown

Miller-Motte Technical College (MMTC) has a history of helping students succeed through hands-on education and career training. Our faculty and staff work to ensure that when you've completed your program, you're truly ready to begin your career.

Programs:

  • Electronic Health Records - Associate of Occupational Science
Locations: Lynchburg

Experience the Rewards of Caring, With ECPI’s Medical Careers Institute, you can Earn Your Bachelor’s Degree in 2.5 Years or Your Associate’s Even Sooner through Our Year-Round Schedule!

Programs:

  • Health Information Management - Associate's
Locations: Newport News
  • Summarize the roles, functions, and impacts of an effective healthcare manager.
  • Evaluate existing research using quantitative statistical tools to assist in healthcare management decision making.
  • Identify, evaluate, and respond to common types of healthcare ethical dilemmas.
  • Describe the value of personal and professional development, community service, and life-long learning in healthcare management.
  • Evaluate the impact of information systems and technology on healthcare processes and the securing of health information.
  • Analyze the strategic impact of human resource development and management on healthcare organizations.

Programs:

  • Graduate Specialization - Healthcare Administration
  • Master - Healthcare Administration and Management
  • Bachelors in Healthcare Administration and Management
Turn your talents into a career. Nationally recognized and accredited Platt College offers degree programs in Graphic Design, Multimedia, IT Networking and Paralegal.

Programs:

  • Healthcare Management

For over 35 years, Keiser University has maintained a practical, hands-on approach to career education to help our students achieve their personal and professional goals.  Our student-centered approach remains at the foundation of the Keiser University mission and continues to attract students who prefer a more personal learning experience.

Programs:

  • Master in Business Administration - Health Services Administration

Recognized by the U.S. News and World Report for: Best Online Programs, Bachelor’s 2017, Best Online Programs, Grad Education 2017 and Best Online Programs, Bachelor’s for Veterans 2017

Programs:

  • Computer Information Systems (Bachelor of Science) - Online
  • Cybersecurity Certificate

medical coderThe educational path to become a medical biller and coder is a fast-track into the medical industry. Only an associate’s degree or diploma from an accredited program tailored specifically to medical billing and coding is required. However, earning a bachelor’s degree can raise job opportunities and provide higher wages.

Certification is not required, as many medical billers and coders have worked without it. However, greater job opportunities and higher wages lie in store for the coder that has all the proper credentials. One certification to obtain would be the Certified Professional Coder (CDC) designation.

Medical Billing and Coding Salary in Other Countries (UK, Canada and Australia)

Believe it or not, the United States pays rather low wages to medical billers and coders. The field has become much more lucrative in other countries. For instance, employees working in Australia can take home a yearly salary of about AU$180,000 on average. This is significantly higher than U.S. standards. Even the United Kingdom pays high wages to medical billers and coders. An average of £73,000 is reportedly paid to medical billing and coding employees every year. This is equivalent to $117,000 in America.

Canada, however, falls in the same category as the United States. Canadian employees can earn an average of C$33,000 per year.

Verdict on Medical Billing and Coding Salary

A career in medical billing and coding can be rewarding. The educational requirements are slim, so the path can be a fast-track into the medical industry. Wages are comfortable, but much lower than many other professionals working in the health care fields. The best thing to do is research information on becoming medical billers and coders in Australia or the United Kingdom. That’s a hefty salary to bring home.

Sorry, comments are closed for this post.