When you work in medical billing and coding salary is something you need to consider, but must realize it will grow the longer you are in the field. In general, those who work in medical billing and coding are responsible for assigning codes to the various services provided to patients and complete the billing. The code assigned to a service will help the insurance company determine how much of the bill they will pay and for how much the patient is liable.
|Profession||Median Annual Salary|
|Medical Billing and Coding||$35,600|
If you are looking to work in medical billing and coding, you can expect that the field will grow in the coming years. According to the United States Bureau of Labor Statistics, the field is expected to grow by 20 percent by the year 2018. This is mainly due to the increase in the aging population and the increase in the medical care they will need in the coming years. The more people who need medical care, the more coding and billing work there will be. Another advantage to this field is the possibility to work from home. Because of the nature of the work, the information can easily be transmitted over the Internet.
In some cases, you may be able to find a college program that trains you in the field of medical billing and coding in less than two years. However, many employers prefer for you to have an associate degree in the field instead. Once you have a two year degree, you can attain certification from the American Health Information Management Association by passing an exam. Your degree must be from a school accredited by the Commission on Accreditation for Health Informatics and Information Management Education. Some organizations, such as the American Academy of Professional Coders, also offers credentials.
Low, Average and High Medical Billing and Coding Salary Levels
Your medical billing and coding salary will vary greatly depending upon your experience and the environment in which you work. In the bottom 10 percent of medical billing and coding, you can expect to earn about $20,000 per year. The median wage for this field runs between $24,290 and $39,490. If you reach higher in the field, you can earn up to $50,000 per year.
Earning a medical billing and coding salary requires you to complete some schooling and accreditations. Once you begin working in the field, however, the growth potential is there to earn a good living.
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