Employment Opportunities for Medical Billing and Coding Specialists

The decision to pursue a medical billing and coding career is a very smart one because this field is growing rapidly. Though the medical billing and coding salary in general is respectable, compensation varies based on factors like geographic area, type of employer, and specialization in a certain area of medicine or type of facility. This last aspect is particularly important as having knowledge of specialized billing and coding requirements is very valuable from a compensation perspective.

Coders assign the appropriate diagnosis and treatment codes based on an analysis of patient charts. Billers assume the responsibility of getting the health care professional or facilities paid for services rendered. They enter relevant information into the software and ensure that the required documents are completed and approved. Medical billing is sometimes considered a sub-specialty of medical coding, though the same person may perform both jobs.

According to the U.S. Bureau of Labor statistics, the average 2010-2011 salary ranges from $20,850 to $51,510. Salaries for the two occupations are considered together, but medical coders can expect their earnings to be toward the higher end as they usually must undergo additional training to obtain a certification. The federal government pays the highest wages of all industries offering employment in this field, paying an average annual salary of $45,120. Average salary in a hospital environment is $35,870 and physician offices pay $28,460 on average.

The AAPC Medical Coding Salaries Survey is a good source of compensation data specific to medical coding. According to the latest survey, certified medical coders earn an average of $45,404 and non-certified coders make $37,746 annually, on average. This salary differential of more than $7,600 illustrates that becoming certified can be worth the extra time and effort. Years of experience and size of employer both positively impact annual salary for medical coders and this also holds true for medical billers.

One way that both medical billers and coders can specialize is by working within a certain type of facility. Mental health providers, nursing homes, dentists, hospice providers, and physical, speech, and occupational therapy clinics or providers are just a few of the specialized environments available. Each of these makes use of a distinctive set of medical billing diagnosis and treatment codes.

Some billing specialists begin their careers by working for a medical billing services company. This often exposes them to a variety of facilities so they can learn the ins and outs of billing and coding within each one. Workers use one or more types of software to create paper and electronic claims for submission to insurance companies.

Medical billing and coding salary figures are expected to continue their positive trending. Employment in both fields is anticipated to grow much faster than the average for other occupations. Medical coders will continue to make a higher salary than billers due to the relevant certification being preferred by employers. However, employment in either area offers opportunities to increase earnings through factors like specialization in a certain type of facility or area of medicine.

If you found this article on medical billing and coding salary useful, visit All-Things-Medical-Billing.com today! We offer information not only on all aspects of medical billing and coding salary, but also tips on how to obtain jobs in the field, job projections, small business tips, and anything else to do with medical billing and coding opportunities.

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