Updated: 3/29/2017 The mean salaries for Medical Billing and Coding specialist in the US registered an upward trend from 2016 to 2017. However, this increase is not distributed equally as factors such as workplace, geography, experience and type of certifications influenced the medical billing and coding salary.
Workplaces Offering the Highest Salaries
Hospitals and doctor’s offices are the two main places where most of medical billing experts work. These are the places that pay the best and most attractive remuneration for medical coders. About 30 percent of medical billing professionals in the United States are employed in the hospitals which pay them an average salary of $38,000 which is more than the profession’s mean income by $2000. On the other hand, doctor’s offices which are the second biggest employer of medical billing and coding experts pay an average salary of $30,000 per year. This translates to an average of $14.50 per hour which is about $6000 below the average remuneration offered in the United States. Although the federal government, research and development centers represent offer a small fraction of the available jobs, they offer an average pay of $46,000 which is $10,000 more than the average salaries paid in the United States.
Regional Pay in the United States
Like other medical professions, salaries for medical coders vary depending on the state, region and the city that the coder works. The differences in these geographical differences are determined by costs of living, demand for coders and billing experts and many more. States that are located on the Northeast and West coast of the United States offer the most attractive pay with average incomes ranging from $36,000-$52,000 in states such as Massachusetts, New Jersey, California, and New Hampshire and many more. However, there are certain exceptions to these. Some regions that have scarce populations and which register a lower number of coders pay higher. This can purely be attributed to low number of people who have the necessary medical coding training. This is also the case in states which register the lowest costs of living. States whose living standards are lower than the national average pay between $22,500 and $32000 annually. Such states include Alabama, West Virginia, Mississippi and Louisiana.
Increasing Your Salary after Becoming a Medical Biller and Coder
After getting a start in the profession, there are ways which you can adopt so as to improve your earning potential. Specialization, education and gaining experience are some of the ways which you can use to improve on your earnings. Most employers offer pay hike to coders and medical billers who demonstrate understanding of the technical aspects of the work, reliability and efficiency. Moreover, those who remain with one employer for several years are more likely to receive better pay than those who hop from one employer to another.
Nonetheless, those at entry level may find that they are able to reach their peak in earning potential within the shortest time possible. They can take up advanced courses that are more valuable to employers. This can help bump them to a higher pay scale. Medical billing and coding salary continue to rise just like that of those who work in the medical field.