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
  • Career training since 1963.
  • Gives you the freedom and flexibility to learn on your own time, at your own pace and in your own environment.
  • Complete your education and gain technical skills when and where it's convenient for you!
  • Accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).
  • For placement, financial and other important information, visit online.daymarcollege.edu/disclosures.

Programs:

  • Billing & Coding Specialist, Associates Degree

100% Online & No Standardized Testing

We are committed to helping you achieve your goals and complete your degree as quickly as possible.

Programs:

  • AA: Medical Office Assistance

Building on Purdue's mission to provide greater access to affordable, world-class education, Purdue University Globaldelivers a fully personalized online experience that's tailored to working adults. By opening the doors to adults who need flexibility to fit learning into their busy lives, we make it possible to achieve a high-quality education from a prestigious university system—completely online.

Programs:

  • BS in Health Information Management
  • Master of Health Information Management
  • Medical Office Administration
  • Your Accredited Degree from a TOP College Awaits! - Education Connection
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!

Programs:

    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.