Medical coding and billing will give you an overview on the average salary of a medical coder or biller. Medical coding is a great career and definitely improves your chances of having a stable, secure income.
Average salary for medical coding and billing
We see that the average salary for medical coding and billing is $43,830. This is higher than the average salary for medical professionals across all industries. Medical coding and billing also has high demand. The ratio of medical coder/biller to general medical practitioners is larger than 2:1, which indicates that there are more jobs available than people to fill them. With an average salary of $43,830 and a demand-to-job ratio of 2:1, this will make you money while enjoying your degrees.
Medical coding and billing job opportunities are expected to increase by 24% over the two-year period from 2012-2014. This is about as fast as average for all occupations. Currently, the bureau estimates that there are around 365,000 jobs open in medical coding and billing and does not expect this opportunity to change much over the 2012-2014 decade. The specific requirements vary based on the industry and the specific employer. Most employers require previous experience in medical coding and billing. For example, large health care systems may prefer candidates with one or more years of experience working in a doctor’s office; vocational schools require at least an Associate of Applied Science degree (AS). Regardless of your background, you can expect a salary of between $30,000 and $69,999 a year. For example, healthcare industry workers with experience in medical coding and billing earned a median pay of $48,923 per year in 2010; those without experience earned about half this at only $22,461 per year.
The medical coding and billing profession is one which is growing at a much faster rate than most other careers. With the healthcare industry expanding rapidly to meet the demands for medical care, there are more demands for this particular type of career path. The good news is the earning potential of one who has the proper training and certification can be substantial. Those who have these credentials will likely find themselves making over $50,000 per year on average in this field.
Medical coding is a health care practice that involves assigning a code to a diagnosis or procedure performed by a physician or other healthcare provider. The main purpose of coding is to support the medical billing process, ensuring correct reimbursement for medical services. The growth of medical coding as a profession and industry has been fairly rapid in recent decades, especially with the growing complexity of health care coverage laws and regulations. Today, medical coders are often expected to have knowledge of disease processes, treatment protocols and health insurance guidelines.
