Medical Billing And Coding Salary Data

As you research medical coding salaries, keep in mind that someone with a degree in medical billing and coding has many options to choose from. Depending on education, and the specialty for which you code, salaries vary. According to the American Academy of Professional Coders, the following are average salaries by hour to use as a comparison:

$14.73 per hour the first year

$19.33 per hour after five years on the job.

$21.75 per hour after 10 years on the job.

$23.37 per hour after 15 years in the field.

There are a lot of variables that impact your salary, but based on data from the AAPC, the top five areas for Medical Coders are:

* Neuropsychiatry. $62,500

* Rheumatology. $57,800

* Nephrology.. $50,900

* Plastic Surgery. $47,200

* Interventional Radiology—–$47,100

Other variable that affect salary are level of training and geographical area. Keep in mind when investigating salaries, that cities where coders make higher salaries also tend to have a higher cost of living, which needs to be considered. Certified Coders earn from 10%-20% more than non certified and are highly favored by employers.

Education and Training

Medical records and health information technicians entering the field usually have an associate degree from an accredited college. Many employers favor technicians who have become Registered Health Information Technicians (RHIT). Advancement opportunities for medical record and health information technicians are typically achieved by specialization or promotion to a management position.

Nature of The Work

Medical records and health information technicians who specialize in coding are called health information coders,medical record coders , coder/abstractors, or coding specialists. These technicians assign a code to each diagnosis and procedure, relying on their knowledge of disease processes.

Technicians then use classification systems software to assign the patient to one of several hundred diagnosis-related groups, or DRGs. The DRG determines the amount for which the hospital will be reimbursed if the patient is covered by Medicare or other insurance programs using the DRG system. In addition to the DRG system, coders use other coding systems, such as those required for ambulatory settings, physician offices, or long-term care.

Work environment.

Medical records and health information technicians work in pleasant and comfortable offices. This is one of the few health-related occupations in which there is little or no direct contact with patients.

Health information technicians usually work a 40-hour week. In hospitals”where health information departments often are open 24 hours a day, 7 days a week”technicians may work day, evening, and night shifts.

Future Employment Outlook For Medical Coders According the Bureau of Labor Statistics the health care industry is expected to generate three million new jobs between 2006-2016.

Employment of medical records and health information technicians is expected to rise by 18 percent through 2016″faster than average, for all occupations”because of rapid growth in the number of medical tests, treatments, and procedures that will be increasingly scrutinized by health insurance companies, regulators, courts, and consumers. Technicians will also be needed to enter patient information into computer databases to comply with Federal legislation mandating the use of electronic medical records.

Skilled employees are needed in growing career fields such as medical billing and coding, medical assisting, ultrasound or radiologic technology, and a range of other careers including medical office administration and health care administration. Training for these fields sometimes includes a valuable externship to help you gain much needed experience even before you graduate. Programs vary in length, although a certificate in Medical Coding and Billing can be earned in as little as six months.

Summary

Employment is expected to grow faster than average.

Job prospects should be very good;Medical coding technician will be in particularly high demand.

Entrants usually have an associate degree.

This is one of the few health occupations in which there is little or no direct contact with patients.