Introduction
Medical billing and coding is an important job in the healthcare industry. Medical billers and coders are responsible for accurately processing insurance claims, verifying patient information, and maintaining records. But how much do they make? This article will explore the average salary of medical billers and coders, as well as the factors that can affect a person’s earning potential.
Overview of the Average Salary
According to the Bureau of Labor Statistics (BLS), the median annual wage for medical billers and coders was $40,350 in May 2019. The lowest 10 percent earned less than $27,260, while the highest 10 percent earned more than $62,890.
Factors Impacting Medical Biller and Coder Salaries
There are many factors that can affect how much a medical biller and coder makes. These include education level, experience, and location.
Education Level
Most employers prefer to hire medical billers and coders who have completed a postsecondary certificate or associate’s degree program. Those with higher levels of education tend to earn higher salaries. According to a 2015 survey conducted by the American Academy of Professional Coders (AAPC), those with a bachelor’s degree earned an average of $49,000 annually, while those with a master’s degree earned an average of $64,000 annually.
Experience
Experience is another factor that can impact a medical biller and coder’s salary. Typically, the longer someone has been working in the field, the more they can expect to make. According to the AAPC survey, those with one to four years of experience earned an average of $43,000 annually, while those with five to nine years of experience earned an average of $50,000 annually.
Location
The area where a medical biller and coder works can also have an effect on their salary. In some states, the demand for medical billers and coders is higher, which can lead to higher salaries. For example, the BLS reports that the highest paying states for medical billers and coders in May 2019 were Alaska ($58,220), California ($56,370), and New Jersey ($54,740).
Comparing the Average Medical Biller and Coder Salaries of Different States
When looking at the average salary of medical billers and coders across different states, there can be a significant difference. For example, according to the BLS, the highest paying states for medical billers and coders in May 2019 were Alaska ($58,220), California ($56,370), and New Jersey ($54,740). On the other hand, the lowest paying states were Louisiana ($33,640), Mississippi ($34,490), and West Virginia ($35,120).
Investigating the Range of Medical Biller and Coder Salaries Across Industries
The range of medical biller and coder salaries varies depending on the industry they work in. According to the BLS, the industries with the highest levels of employment for medical billers and coders in May 2019 were hospitals; physician offices; insurance carriers; outpatient care centers; and nursing and residential care facilities. Here is a breakdown of the average annual salaries for medical billers and coders in each of these industries:
- Hospitals: $41,910
- Physician Offices: $41,270
- Insurance Carriers: $44,100
- Outpatient Care Centers: $40,090
- Nursing and Residential Care Facilities: $36,620
Exploring the Benefits of a Career as a Medical Biller and Coder
In addition to offering competitive salaries, medical billing and coding offers a number of other benefits. These include job security, flexible hours, and professional growth opportunities.
Job Security
The healthcare industry is growing, and with it, the demand for medical billers and coders. As more and more healthcare providers turn to electronic health records and other forms of technology, the need for medical billers and coders is expected to increase. This means that those with the necessary skills and knowledge will have no trouble finding steady employment.
Flexible Hours
Many medical billers and coders are able to find jobs with flexible hours. Many employers offer part-time or full-time positions, allowing employees to work around their own schedules. This makes it easier for those with families or other commitments to pursue a career in medical billing and coding.
Professional Growth Opportunities
Medical billers and coders have the opportunity to advance their careers by pursuing additional certifications and training. The AAPC offers several certification programs, such as Certified Professional Coder (CPC), Certified Coding Associate (CCA), and Certified Coding Specialist (CCS). Those who obtain these credentials can often command higher salaries.
Conclusion
Medical billers and coders play an important role in the healthcare industry. They are responsible for ensuring the accuracy of patient records and insurance claims. While the average salary of medical billers and coders varies depending on education level, experience, and location, most can expect to make a competitive wage. Additionally, medical billing and coding offers job security, flexible hours, and professional growth opportunities.
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