Medical Billing and Coding Salaries
How much do medical billing & coding specialists make?
According to information furnished by The Bureau of Labor Statistics (BLS), the middle 50 percent of billing and coding specialists nationwide earn between $22,000 and $36,000 yearly. This figure varies widely between states and medical institutions. Salaries will be higher in accordance with the level of accreditation earned, as well as with any increased responsibilities the billing and coding specialist has taken on.
Learn more about the medical billing and coding certification.
Experienced specialists we’ve spoken with tell us that those who have spent several years in the industry and have taken on managerial positions earn incomes of between $45,000 and $70,000 yearly working for hospitals, group practices, or insurance companies.
Learn more about the medical billing and coding career path.
What is the job market like for medical billing & coding specialists?
The Bureau of Labor Statistics (BLS) projects better than average growth in this vital industry as doctors, patients, insurance companies, and governing agencies set higher standards for more accurate and comprehensive record-keeping. In fact, BLS projects an 18% increase in the number of billing and coding specialists employed by 2016. Hospitals still employ two out of five billing and coding professionals, but that trend seems to be changing. Although Hospitals and physician’s offices often have their own administrative offices with their own staff of billing and coding specialists, they are more and more often outsourcing the work to professional billing and coding service firms or home-based employees. According to both BLS and one billing and coding school enrollment administrator we talked to, job prospects through professional billing and coding service firms are becoming more common.
What is the work environment like?
Medical billing and coding specialists enjoy working in the professional setting of an office. This unique medical profession rarely requires workers to have any direct contact with patients. In fact, even when working in a hospital or clinic, billing and coding professionals work in the administrative offices which are typically far removed from where patient care is being administered. By the very nature of the work, these offices are most often very well organized, clean, well lit, and comfortable.