Your medical billing and coding salary, should you decide to enter this sector of the healthcare industry, will vary somewhat depending on a number of factors. The first is your geographical location. Your medical billing and coding salary is likely to be better if you work in a big city like Boston, Chicago, Houston, or New York, as salaries reflect the higher cost of living. Also there are more, larger organisations like nursing homes and hospitals that are able to afford better rates, than a typical small town doctor's office. Remember though, that responsibilities and work load may be higher working for a larger organisation.
Having a certificate or degree is not essential to command a good medical billing and coding salary, but it certainly helps, and those with qualifications will be likely to achieve better rates of remuneration.
The American Academy of Professional Codes (AAPC), has quoted salary figures in the region of $30,000 per year for a non-certified coder, and up to $38,000 for a certified one. These are only averages but it seems well worth going the extra mile to take the certification exam.
Medical coding and medical billing are separate specialities, yet they are closely associated and overlap somewhat, so that a person who is accomplished in both areas of expertise is more valuable to an employer than just a coder or billing specialist. If you are able, it is well worth taking a course that covers both aspects of healthcare payment administration.
Another important factor in respect of a medical billing and coding salary is experience. Somebody who is experienced is likely to be able to work faster, and with greater confidence than an inexperienced person, as they will be familiar with lots of codes without necessarily having to look them up all the time. Thus experience leads to increased productivity, and a person who is really good at the job can command a salary as high as $50,000 per year. An experienced person also knows about all the rules and regulations governing the job, and will have developed a workable modus operandi.
Instead of working for a fixed salary in an organisation, it is possible to operate as an independent contractor from home. This enables you to have flexible hours and take on as much work as you have the time to do, provided, of course, that you have sufficient clients. You would then be paid by the hour, at a rate of perhaps, $10-12 per hour, depending on your certification and level of experience. This way of working is not likely to be as remunerative as full-time employment on a fixed salary, but may suit someone with other responsibilities, or who is unable, or, does not wish to travel.
One needs, though, to be aware of scams and bogus job offers that are rife these days, especially in the work-at-home area, and offered on the internet with heavily persuasive copy.
There is, however, little doubt that someone conscientious and accomplished can earn a very fair medical billing and coding salary.
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