What Are the Wages of Medical Billing & Coding?
A career in medical billing and coding can lead to several different types of positions. In general, these types of workers gather patient information, such as medical history, test results and insurance information. They also assign codes to treatments prescribed by doctors; these codes are the deciding factor in how much money a patient will be reimbursed. The wages offered for workers in medical billing and coding depend on the type of medical institution for which they work as well as their location.
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Qualifications
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The Bureau of Labor Statistics states that entry-level medical records technicians and coders usually begin with an associate's degree. Having certification as a Registered Health Information Technician (RHIT) is typically an advantage as well. Those interested in medical billing and coding who earn their bachelor's and master's degrees or complete advanced specialty certification will likely earn higher-than-average wages.
Average Wages
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The mean annual wage for workers in the field of medical billing and coding in the United States is $33,880, according to the Bureau of Labor Statistics. The median wage is $31,290, with those in the 10th percentile earning $20,850 and those in the 90th percentile earning $51,510.
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Facility
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General medical and surgical hospitals employ the most medical billing technicians and medical coders, offering an annual mean wage of $35,870. Those working at doctor's offices earn significantly less, at an average of $28,460. Nursing care facilities pay $33,100 for those in this career, while outpatient care centers pay an average of $30,650. The highest paying industry for those in medical billing and coding is pharmaceutical and medicine manufacturing, which offers an annual mean wage of $61,210. Those working for business, professional, labor, political and similar organizations also earn higher-than-average pay, at an annual average of $45,850.
Location
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The highest concentration of workers in the field of medical billing and coding can be found in South Dakota, Alaska, Mississippi, Nebraska and Oklahoma, of which Alaska is the highest-paying at $39,490 and Mississippi is the lowest at $26,460. New Jersey, Hawaii and Washington, D.C., offer the highest salaries at $45,750, $41,340 and $41,290, respectively.
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References
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