The Average Income for Medical Billing

Nearly 70 percent of specialists get medical insurance.

Everyone knows that a visit to the emergency room or doctor's office will be quickly followed by a bill in the mail. The person who itemized your bill and applied your insurance is the medical billing specialist. Specialists earn hourly pay that is sometimes increased by overtime wages, bonuses and profit-sharing plans.

Average Income

As of January 2011, medical billing specialists earn $26,000 to $36,000 a year, according to Payscale. This breaks down to an hourly pay rate of approximately $12 to $16. Some billing specialists report receiving yearly bonuses of up to $1,000 and profit-sharing plans that can add up to $3,000 a year to their salaries.

Experience Increases Income

According to the statistics provided by Payscale, billing specialists with experience earn more than their inexperienced counterparts. While a new specialist earns $9 to $14 an hour, as of 2011, one with 20 years of experience can make as much as $18 an hour.

Education

Medical billing specialists don't need to have a specialized education, according to the U.S. Bureau of Labor Statistics (BLS). Most are hired at entry level and receive on-the-job training. It's also useful for candidates to have basic computer knowledge.

Job Outlook

Although technology has made the billing process more efficient than in previous years, the increasing number of transactions means medical billing specialists will continue to be needed. The BLS reports an expected job growth of 15 percent from 2008 through 2018.

References

• United States Bureau of Labor Statistics: Billing and Posting Clerks and Machine Operators
• Payscale: Hourly Rate Snapshot for Medical Billing Specialist Jobs