Medical Billing and Coding Salary
More Answers From Medical Billing and Coding Professionals
Medical Coding Facts
$28,240 – $71,150
Job Growth (Proj.)
7% Per Year
Medical Billing and Coding Salary Overview
What is the Average Salary in Medical Billing and Coding?
According to the U.S. Bureau of Labor Statistics (BLS) as of May 2020, the average annual salary for medical billers and coders, was $48,870, while the median annual salary was $44,090. The lowest 10 percent of medical billers and coders, earned less than $28,240 per year, while the highest 10 percent earned more than $71,150 per year.
In addition to your level of education, experience and talent, how much you earn is dependent on where you live. Some areas of the country pay more to medical billing and coding professionals due to demand and labor conditions. Below is a map of the mean annual wage of medical records specialists, which includes medical billers, coders and auditors, with the highest paying states in dark blue (source: BLS.gov: Occupational Employment And Wages: Medical Biller and Coder, data for 2021).
Salaries of Common Medical Billing and Coding Careers
The following is a list of common careers in the medical billing and coding field, as well as the average salary for each career. The actual salary a person earns will of course depend on not just career choice, but also degree level, experience, location and type of employer among others:
- Medical Records Technician: Medical records technicians organize and manage patient health records, and ensure the accuracy, completeness, and security of health data. The average annual salary for medical records technicians is $44,010 (BLS May 2020).
- Medical Biller: Medical billers are responsible for creating and submitting insurance claims for medical procedures and services, and ensuring that healthcare providers receive timely reimbursement. The average annual salary for medical billers in May 2020 was $44,090. (BLS May 2020).
- Medical Coder: Medical coders assign codes to medical diagnoses and procedures for billing and insurance purposes. They ensure that the codes accurately reflect the medical services provided. The average annual salary for medical coders in May 2020 was $48,370 (BLS May 2020).
- Medical Claims Analyst: Medical claims analysts review and analyze medical insurance claims to ensure they are accurate and complete. They also identify and resolve billing errors or discrepancies. The average annual salary for claims adjusters, examiners, and investigators (which includes medical claims analysts) in May 2020 was $67,540 (BLS May 2020).
- Medical Claims Reviewer: Medical claims reviewers review medical insurance claims to determine their validity and ensure that they comply with insurance policies and regulations. They also resolve any issues or discrepancies with the claims. The average annual salary for claims adjusters, examiners, and investigators (which includes medical claims reviewers) in May 2020 was $67,540 (BLS May 2020).
- Medical Compliance Officer: Medical compliance officers ensure that healthcare providers comply with applicable laws, regulations, and standards related to patient care, billing, and privacy. They also develop and implement policies and procedures to ensure compliance. The average annual salary for compliance officers in May 2020 was $72,520 (BLS May 2020).
- Medical Auditor: Medical auditors review healthcare providers’ financial records and medical records to ensure that they comply with applicable laws, regulations, and policies. They also identify and resolve any issues or discrepancies. The average annual salary for financial examiners (which includes medical auditors) in May 2020 was $81,430 (BLS May 2020).
- Medical Billing Manager: Medical billing managers oversee the billing and reimbursement process for healthcare providers. They supervise and manage medical billers, coders, and other staff, and ensure that claims are submitted accurately and in a timely manner. The average annual salary for medical and health services managers in May 2020 was $115,160 (BLS May 2020).
What Is The Employment Outlook For Medical Billing and Coding Professionals?
Employment of medical records and health information technicians is projected to grow 8 percent from 2019 to 2029 (BLS), much faster than the average for all occupations.
This growth is due to an aging population that will require more healthcare services, and the increasing use of electronic health records (EHRs), which will require trained technicians to manage and organize health information.
As healthcare providers continue to adopt EHRs, there will be an increasing need for professionals who can use specialized software to code medical information for billing purposes.
The map to the left illustrates the employment of medical billers and coders by state (source: BLS.gov: Occupational Employment And Wages: Medical Billers and Coders, data for 2020).
The largest concentration of medical billers and coders are, unsurprisingly in urban areas with large medical centers. That includes places like California, Texas, Florida, New Jersey and Pennsylvania. Because medical billing and coding can be done remotely, however, there are a good number of medical coders and billers spread throughout the country.
How Degree Level Impacts Salary in Medical Billing and Coding
In general, individuals with a bachelor’s degree tend to earn approximately 40% more than those with just a high school diploma. In medical billing and coding, the positive impact of having an advanced degree on salary is even more pronounced. According to the U.S. Bureau of Labor Statistics (BLS), the average salaries of medical billers and coders can vary significantly depending on their education level. Here’s a comparison of the average salaries of medical billers and coders based on their degree level.
- Certificate: Medical billing and coding certificate programs typically take less than a year to complete and provide students with the basic knowledge and skills needed for entry-level positions. According to BLS, the average annual salary for medical billers and coders with a certificate, was $47,030 as of May 2020.
- Associate’s degree: An associate’s degree in medical billing and coding usually takes two years to complete and provides a more comprehensive education than a certificate program. According to BLS, the average annual salary for medical billers and coders with an associate’s degree, was $51,280 as of May 2020.
- Bachelor’s degree: A bachelor’s degree in health information management typically takes four years to complete and provides a more advanced education in medical billing and coding, as well as management and leadership skills. According to BLS, the average annual salary medical billers and coders with a bachelor’s degree in health information management, was $115,160 as of May 2020.
What Our Experts Say About Medical Billing and Coding Salaries
In the beginning, you could probably expect anywhere from $30,000 to $40,000, depending on your experience. And then definitely as you progress anywhere to $100,000 plus, it just really depends on how far you want to go with that.
When you’ve been at medical billing and coding for a while, depending on what you’ve done in the past at other jobs or even with that particular practice, what you’ve done in the time you’ve been in this field, it could range to $65 to $85 dollars per hour
Where I currently work, if you have a [medical billing and coding] certification of some type, they start out about $18 an hour. And I’m kind of at the Senior Level, and the pay and I’m making is about $28 per hour right now, and the top pay is $35 per hour.
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