Exploring the Salary and Job Outlook in this Growing Field
Like most fields, **medical billing and coding work does not come with a pre-set salary that you will make, and this is primarily due to the vast expanse of workplaces and jobs that fall into this category. The arena is quite sizable, so the medical billing and coding salary you can expect will highly depend on the role you play within your organization. As an average estimate, you can expect to earn around $18-20 per hour, much higher than most other vocational medical fields.
Other Factors that Contribute to Medical Coding and Billing Salary
However, whether you work for yourself or someone else factors in, as well as the number of hours you put into the job each week. The highest paid coders and billers tend to work for the federal government, and these positions are geared towards the operation of the Medicare Program, and will require you to learn their specific programs, policies, and codes. Stand-alone medical practices typically offer lower pay, while working at a hospital, nursing home, or an outpatient care center will offer a medical coding and billing salary somewhere in the median range.
Some of the highest paid coders and billers have sub-specialties, which allows them to be more of a valued asset with their employer. Some of these specialties that call for additional certification and knowledge are:
- Cardiovascular (CIRCC)
- Pediatrics (CPEDC)
- Hematology & Oncology (CNONC)
- Orthopedics Surgery (COSC)
- General Surgery (CGSC)
By exploring these fields, you can propel yourself quickly in the workforce, and land a dynamic job with higher pay. When you are taking your **medical billing and coding classes, look for a credentialing organization that offers these certifications if you are interested in taking your career to the top.
Evaluating Medical Coding and Billing Salary Separately
Medical Coding Salary tends to be higher than positions involved in billing, but this is not always the case. Coders average $30-50,000 per year, and with years of experience, your salary could very well cross the top estimate. Most of the best pay goes to those with specialty experience such as the ones mentioned above. There are about a dozen categories of coding, which contributes to their higher pay. However, you may need to regularly keep your skills updated to coincide with changes in the field, and most staff take ***medical coding and billing online classes to stay current.
Medical Billing Salary can range anywhere from $25-38,000 for the beginner. Again, where you live, where you work, and any specialties that learn contribute to your overall wages. Many billers work from home and only do the job part time, which may contribute to the overall lower wages that are reported concerning this field.
What’s the Outlook for the Field?
According to the Bureau of Labor and Statistics, positions for those with medical billing and coding certification is expected to increase by 20% over the next few years, which means plenty of opportunity to the properly trained professional. Attending a ***medical billing and coding training school is not required, but realistically, it is an essential component to possess within this ever growing, complex trade. Guarantee your success by reaching for the stars and obtaining a solid education in the field. Make your assets even more valuable by pursing **medical billing and coding certification through the proper organizations. Check out the other articles on this site to learn more about how to achieve these goals!