Medical Billing and Coding Salary
Medical billing and coding salary expectations will continue to rise as more demand for the skills in this profession increases. Experience and geographic location will affect wages; along with industry, training and education. For the most part, all indications are that a medical coding and billing salary can provide a very good income to those who apply themselves to their career.
Skills Needed to Earn a Good Medical Billing and Coding Salary
A fully qualified medical billing and coding professional performs follow up on insurance claims that result in payment to healthcare providers. Basically, this comprehensive interaction between the provider and the insurance company is known as a billing cycle. It includes evaluation of the level of service that a patient has received and translating it into a code. Professionals who earn the highest medical billing and coding salary are proficient in the terminology needed to translate the code into a database, using the computer to transmit a claim to the insurance company, and other skills such as processing rejected claims.
Average Medical Billing and Coding Salary
Billing and coding salary also varies by region in addition to skill and education level. On average, the medical billing and coding salary range across the United States is between $25,000 and $39,000 per year. However, ten percent of these professionals earn well over $50,000 per year depending on other factors.
This graph was taken from http://www.aapc.com/resources/research/medical-coding-salary-survey/2009.aspx and shows the impact of age/experience on medical billing and coding salaries
Medical Coding and Billing Salary Ranked by City
In general, big cities pay a higher medical billing and coding salary based on the cost of living in that region. By some estimates, the difference in salaries can be as much as $5.00 per hour depending on the size of the city. The city of Newark, New Jersey pays the highest average medical billing and coding salary at $25.00 per hour. San Jose, California pays $23.00 an hour and San Francisco, California pays approximately the same. Vineland and Edison, New Jersey are cities that also pay high salary averages; around $21.00. Again, these are estimates of averages and the salary in this occupation can be higher or lower.
States that Pay the Top Medical Coding and Billing Salary
The states that pay the highest salaries on average are New Jersey at $46,000 annually, Hawaii and the District of Columbia tied at around $41,000 and Alaska at $39,000 average annual salary. South Dakota, Alaska, Mississippi and Nebraska employ the most medical billers and coders in the country.
Highest Paying Industries
Performing billing and coding in the neuropsychiatry industry pays the highest salary in this profession. Rheumatology, Nephrology, radiology and plastic surgery also rank high on the top paying medical billing and coding industries list.
Other Factors that Affect Medical Coding and Billing Salary
Medical coders and billers with experience who pursue more training and obtain certifications in the occupation make a higher salary than others. Medical billers and coders with specialized training earn more because there is more competition for their unique services. The economy also plays a part in a medical coding and billing salary expectations. For instance, when the economy is thriving, this occupation tends to pay less in areas with smaller populations where the demand for their services is lower.
