Medical billing and coding salary averages $36,000 per annum. These payouts are remarkably increasing for experienced and skilled personnel. Trainees can earn minimum $20,000 per annum and experts might even earn up to $62,000 per year. There is huge demand for certified medical encoding and billing specialists. They are expected to get rise in salaries with advancement in their skills and experience. The pay scale for medical billers can vary according to conditions mentioned above.
According to Medical billing and coding salary in 2011 survey, it is determined that in next year, the payouts for coders and billers will enhance and likely come in the range of $36,000- $44,000 per annum. The mentioned salary is round off average and you can determine exact pays according to the competence of personnel. Your hard work can make you earn high income and you can be promoted to higher levels in terms of designation.
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Institute wise average medical coding and billing earnings
BLS has also mentioned average earnings of medical coders in terms of institutional breakups.
BLS Highlights for medical billing and coding salaries
- High scale (about 10%) professionals in medical billing jobs get compensations for more than $50,060 per annum.
- Average pay for mid-scale medical billing and coding professionals range between $24,290- $39,490.
- Lower sector (about 10%) earn lesser than $20,440 per year.
- Average salary is about $30,000/year.
- Expected growth in medical billing sector jobs is 20% between the year 2008-2018, which is a huge growth percentage.
Factors affecting medical billing and coding earning
- Location of work
- Education levels of candidate
- Experience from past jobs
- Tasks and responsibilities of billers and coders.
Scale for medical billing earning
Medical billing & coding payout depends upon the fields in which you are employed. Like, coders in neurology can earn high pay scales. Medical coders and billers can get jobs at almost every location and work even from home.
Medical billing from home
Medical billers have also begun using Internet as a medium for doing job. There are many freelancers working from their homes and managing billing and coding tasks for various private practitioners and small scale health organizations. They can handle multiple jobs at one time and get paid according to the work done by them. They usually get $10- $25 per hour; depending on their experience and tasks assigned to them by employer. Read more
Skills required for becoming successful medical encoder and biller
Medical billers and coders can earn better compensations by possessing certain skills, which can really help them to fly up the ranks. Some of the highly required skills are illustrated below:
- Computer operational knowledge and various medical software applications
- Sophisticated oral and written communication skills
- Possession of national certification and educational degree
- Ability to learn quickly and openly to stay ahead in your job processes
What are major tasks of medical coders & billers?
The primary task of medical billing and coding section includes claim submission to insurance companies or government policies. Healthcare providers can get compensations for the services rendered to patients by these organizations. The typical work schedule of a full-time medical coder and biller is for 40 hours a week.
There are many medical billing software applications used by medical billing department for getting assistance in reading, organizing documents and handling billing procedures in a perfect manner. You can earn high income by getting associated with a reputed practitioner or hospital. You might have to independently handle billing section (in case of working with private practitioner) or work with a group of people in coding department.
Learning medical coding and billing is essential for every student. You have to be versed with all coding modules, so that there is proper documentation and procedures performed in work. The job of medical coders and billers is highly typical as they can’t make mistakes in their activities. One wrong step can lead them to big troubles. If you are a person taking immense circumspection in your work, this job can pay you high salary due to increase in credibility. Read More
Training for medical billing and coding
To get lucrative income by becoming medical coding and billing professional, you can find best college or vocational schools providing full time or part-time courses for medical billing. Many hospitals give on-job training to their employees from time to time for getting them equipped with knowledge about new software and regular procedures in billing.
Experience and skillfulness are most important for medical biller and coder. Remember, you will have to be open for learning every day because there are new cases and opportunities arising daily and giving loads of experience to employees.
Graduation from accredited medical school can be another plus point in earning high income in your profession. You can also enroll for national certificate exams and become certified billers and coders. You can at least earn better in beginning than other professionals having no certificate or official recognition.
Becoming a medical assistant is a good way to get started in the healthcare administration field. Check out eMedical Assistants for the run down of the training and certification required to become a medical assistant.
Job outlook for medical billers and coders
There is a tremendous scope for earning for medical billers and coders. You can get better income prospects and a promising future by enrolling into a degree program. The outlook of this stream is promising and due to increase in medical centers throughout world, you can practice your occupation in any part of the globe.
Medical coding and billing salary range is wide and it will probably get a higher scope in upcoming years. You can get increased payouts and in future, these jobs are expected to grow with the progressing scope of allied medical jobs. Read more
Pharmacy technician salary is also considered to be high payed. Incase if anybody is interested can opt this career too.
The average dental assistant salary in the United States is $33,296 but the actual salary can differ as per states in the US. This is a kind of profession one can surely opt for.
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