How Much Can You Earn Doing Medical Billing & Coding?
Health information technicians organize and manage patients' health information for health care providers. This career is often called medical billing and coding. The technician's job is to accurately compile information about medical histories, diagnostic testing, results and treatment methods for each patient file. Many specialize in a specific aspect of health information, such as oncology. Advanced specialty certification increases the earning potential for health information technicians.
Other People Are Reading
-
Earnings
-
According to the United States Bureau of Labor Statistics, the annual median wage of health information technicians in 2008 was $30,610. This figure applies to all employed in the field. Fifty percent of the 172,500 technicians employed that year earned between $24,290 and $39,490. The lowest paid in the field earned less than $20,440 and the highest earners made more than $50,060. In 2009, the average income nationwide was $33,880 per year, or $16.29 per hour.
Industries
-
Health information technicians employed in the pharmaceutical and medical manufacturing industry are among the highest paid in their field, with an annual mean wage of $61,210. Those who work in the Federal Executive Branch or in business, professional, labor and political organizations have a mean wage of over $45,000 per year. Scientific research and development health information technicians earn an annual salary of $42,050. The next highest earners work in hospitals, while the lowest earners are employed in physicians' offices.
-
Geography
-
The top paying states for this profession are New Jersey with an annual mean wage of $45,750; Hawaii, $41,340; District of Columbia, $41,290; Alaska, $39,490 and Maryland, $39,330. By metropolitan area, the highest earners are employed in the Newark-Union, New Jersey-Pennsylvania area with an annual mean wage of $51,390. San Jose-Sunnyvale-Santa Clara, California area technicians earn $47,450 per year.
Employment
-
As of May, 2009, 39 percent of health information technicians in the United States worked in hospitals and earned a mean annual wage of $35,870. Health information technicians advance their career through continuing education or by earning a bachelor's or master's degree or advanced specialty certification. The Bureau of Labor Statistics estimates that employment opportunities will grow by 20 percent between 2008 and 2018 as a result of the increase in the number of medical procedures that will be performed. Cancer registrars, the technicians who specialize in medical billing and coding for cancer patients, are likely to experience more growth as the incidence of cancer increases as the population ages.
-
References
- Photo Credit Hospital Files image by PinkSony from Fotolia.com
