Salary of Medical Billing & Coding Specialists
The related fields of medical billing and medical coding offer flexibility, part-time and full-time opportunities, and a mid-range salary. Medical billers prepare health care invoices that are sent from providers to insurance companies. Medical coders work for insurance companies, using health care invoices from providers to assign diagnosis and procedure codes. These codes indicate how much health care providers will be reimbursed for their services. Both medical billing and medical coding require the study of medical terminology.
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Salary
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Medical coders and billers earn similar salaries, according to PayScale. As of 2010, billing specialists earned $29,106 to $43,250 a year, depending on experience. Coding specialists earned $27,644 to $40,172 annually. Compensation can be affected by the area of the country, education level and experience in the field.
Training
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Medical billing and coding jobs require training in medical terminology and codes in a classroom setting or via online courses. You can complete classes in nine months to a year when studying full-time, or you can take classes part-time while still working in another job. Coursework topics include physiology, anatomy, international classification of diseases and medical office technology, according to All Allied Health Schools. Since the coding process is an important component of billing, many programs offer courses in both billing and coding.
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Credentialing and Certification
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Credentials and certification are not required for coding or billing jobs, but they may help with future advancement. Coding credentials can be earned by taking examinations with the American Academy of Professional Coders, the Board of Medical Specialty Coding or the Professional Association of Health Care Coding Specialists. Certification for medical billing is awarded by the Certifying Board of the American Medical Billing Association.
Work Environment
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Many billers and coders work in hospital settings. Others work for insurance companies, nursing homes, outpatient care centers, doctors’ offices and home health care companies. Forty-hour work weeks are typical, but some part-time positions also are available. Those in supervisory positions and those who specialize in coding for cancer treatments tend to make more money.
Work at Home
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While medical billers work set hours in offices, medical coders with some in-office work experience strike out on their own with home businesses. Some at-home coders running their own businesses have reported making $100,000 a year, according to Business Startups: Medical Coding Careers. Often those making this much have other freelance coders working for them.
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References
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