Medical Coding Salary
Find the Average Medical Billing and Coding Salary and Figures.
Medical billers and coders have different sets of skills and specialties. A medical biller is at the lowest end of the range for medical billing and coding salaries. A medical biller could be a billing worker, who handles the submission of claims for Medicaid, Medicare or insurance companies. A medical coder or coding specialist is responsible for translating symptoms and descriptions of diseases, drugs and procedures into medical codes. These codes are used for payment claims and maintenance of statistical records.
According to a survey by the AAPC (American Academy of Professional Coders) in 2008, the average medical coding salary for a certified coding specialist is USD 43,100. Those who are equipped with a master`s degree earn significantly higher than those who have only bachelor`s or associate`s degrees. Medical coding salaries for certified medical coders are higher than those who are not certified. The average medical billing and coding salary ranges from USD 39400 to USD46500. The annual medical coding salary in specialized areas can be as high as USD62500.
The career outlook for medical billing and coding specialists is certainly good. Currently there is a shortage of qualified medical coding specialists, and the demand is expected to escalate. This is due to the expansion of the medical industry in areas of medical tests, treatments and procedures, as well as the increase in the elderly population requiring health care. In time to come, every medical office is required to have at least one certified medical coding specialist for Medicare.
Medical coding and billing specialists usually work in hospitals, healthcare institutions or medical clinics; some medical coders have their own businesses. The career path of a medical coding specialist is equally lucrative. A medical coding specialist can progress either by moving into managerial positions such as billing and coding managers, or specialize. A number of specialized areas that command higher medical coding salaries are neuropsychiatry, rheumatology, nephrology, plastic surgery and interventional radiology.
Medical coding at the insurance company level, people that handles records or medical record coders will have the responsibility to check and make sure that the codes that have been entered are good without errors. The will make sure that the attached to the claims are valid and correct codes, this is done before the paperwork is entered and submitted for more review.
This is very important because mostly all insurance providers may use the same records or the set of medical codes internally. They may also have the cross reference chart that will be parallel or ties internal codes to the medical codes used outside the system. When the coding specialist found some errors or some invalid code, the review of the claim immediately stops, and the claim will be returned to the originator.
Becoming a coder is not an easy task to get into. There is a lot of learning to do and certifications must be taken. Both the AAPC and AHIMA offer their certification programs. The certificate that comes from them will make sense. This are very important factors because not only do medical coders holding credentials that can earn them much higher salary. Salary difference between the two accreditation groups still continues to rise up, rising from $6,600 yearly up to $7,658 yearly in 2010.
It is usually the case, in many jobs or professions, that the salaries and experience are commonly correlated. The more experienced a person is the more it equates to a much higher salary. This is also the case in the medical coder field. Coders that have 20 years or more of coding experience can get over 50% earn, this is more than $50,000 yearly. Twenty seven percent 27% of those coders that have 10 to 20 years of work experience can earn over $50,000 annually. But fourteen percent 14% with 5 to 10 of experience gain less.
There are many players in a medical field, there are different people that function individually that makes a medical system works. There is an essential for medical coding process, they have a big part in maintaining a medical system. Medical coder is the one responsible for assuring things and ensuring that all needed requests for diagnostics and also in blood work.
These items are all issued by a doctor and it contains codes, these codes are the standard medical coding that is being recognized by different health insurance companies. Medical coders also must appear upon requests for testing, these are all authorized by doctors or any person in charge, the same set of created codes are also used to encode any insurance claims that are created and submitted to the insurance provider.
The work description or function of the medical coder is to make sure that the correct codes are being used properly so that the correct testing procedures are conducted, and the eventually the insurance company can efficiently and quickly review and process received important claims. This makes medical coder very critical to a medical system. They are considered as a focal entity that connects the three element, the patient, doctor and the insurance company.
In resent years there are some good news for medical coders, survey made by the American Academy of Professional Coders. The average medical coding salary have significantly risen from 2010 levels. If this trend continues years to come, the salaries for medical coders will increase about six percent 6% every year. The common salary for a coder with an accredited certification CPC has a median of $46,800. This means that in fully 59% of all coders may earn starting from $30,000 to $50,000 annually, this is the first time that brink has been crossed. This implies that being a medical coder can be a good career for people that are in the medical field.
The medical coding salary varies per state as the performance are assesses based on actual performance and accreditation. The medical coding jobs require a keen understanding of the insurance claims, reviewing patient records of diagnosis and assess during the patient claims for reimbursement. The medical coding specialist encodes the patient diagnosis with the number of treatment and procedures which could be an important source of information between doctors and insurance company in order to approve patient claims.
The medical coding salary varies per states and according to payscale as of February 2012, the medical coding salary per hour reaches $10.32 to $21.98, while the overtime pay for medical coding reaches $14.58 to $34.97 per hour. The medical coding are also entitle to receive bonus which my total to $ 2,029 annually. The average total pay salary from medical coding reaches the amount of $22,157 to $49,255. The educational requirements for those seeking a medical billing job require a secondary diploma and a certificate from the American Academy of Professional Coders to become eligible to work in back office hospital.
The applicant need to finish attending classes with accredited school offering training in medical coding skills by studying in a traditional and online school. The tuition fees for medical coding ranging from $1000 to $2000 upon completion of the course requirements. The medical billing jobs are plenty and in demands among medical company both n public and private hospital. A career in medical coding could lead to other areas of occupation from becoming a medical coding specialist to becoming a medical officer which receiver higher amounts of compensation.
A medical coding graduate could also advance her resume advantages by attending master degree which enhance her skills and provide a good source of income. The amount of expertise and the skills acquired through jobs exposure could be a way to meet the qualification of most employers seeking active assistant whom they could trust for a longer period handling crucial patient data and information.