The level medical billing and coding salary is determined primarily by the type of role you have within the industry as well as the type of work you do. With the increasing complexity of healthcare, it is not surprising that the number of medical billing and coding jobs are on an upswing. Within the field, there are a number of job titles and categories which fall under the medical billing and coding profession.
Prior to detailing the amount of medical billing and coding salary which can be earned in this field, we will initially look at what the medical billing and coding are all about.
Medical billers and coders are often grouped together because of their similar skills it takes to do each task. However, although each occupation require similar skills, the actual jobs are quite different. The primary responsibility of a medical coder is to transform patient information, entered it into a database, and file a return or claim.
The statement or claim is then sent to the healthcare insurance provider, where it is either accepted or denied. If the application is approved, the work of the coder is done, but if rejected the coder must examine the rejected claim and update the data accordingly.
With respect to medical billing and coding salaries, there are various factors which contribute. The most important factors are location, certification or diploma, and expertise.
Factor #1: Geographical Location
Medical billers and medical coders who work in larger cities generally earn significantly more than those who are employed in smaller towns. This is primarily due to the difference in the standard of living between cities and towns. The geographical location of workers plays an important role in medical billing and coding salary.
As an example, a biller or coder employed by a large hospital or other large medical organization, will have a greater opportunity of achieving a salary of $19 per hour whereas smaller hospitals or organization may only pay $16 per hour.Additionally, the salaries in private medical practices will generally pay a higher wage in order to attract a more qualified employee.
Factor #2: Certification And Education
To work in medical billing and coding it is not absolutely necessary that you have a diploma or certificate, however, a degree or certification will definitely increase the level medical billing and coding salary. A study was conducted by the American Academy of Professional Coders (AAPC) individuals with certification earned an average of $38,000 per year while non-certified billers and coders averaged $30,000 per year. Salaries are expected to be on the rise with increasing demand for certified medical billers and coders.
Factor #3: Practical Experience
As in any industry, the number of years of prior experience plays an important role in determining medical billing and coding salary. Experienced individuals will not only will receive more responsibility via complex tasks, their salaries will increase. In fact, according to recent survey, billers and coders with 10-19 years of experience generated incomes of $25,700 to $45,300 per year, while those who had 20 or more years of experience, made upwards of $51,100 per year. Therefore, work experience plays an important role in medical billing and coding salary. Therefore, it is not surprising that with the increasing complexity of healthcare, the need for medical billing and coding employees are expected to rise.