Certified medical coders are responsible for assigning specific codes for different types of medical services. Subsequently, they submit the documents to insurance companies so the doctors can be reimbursed. All certified medical coders must receive accreditation by some valid source, such as the American Academy of Professional Coders. Certified medical coders must be well-verse in using computers, as much information is filed electronically. Medical coders using get paid by the hour.
Average Annual Salary
Certified medical coders earn hourly wages of $12.36 to $18.12, according to a March 2011 PayScale.com survey that included over 2,300 respondents. PayScale data ranges represent the 25th to 75th percentile of salaries. Based on 40-hour workweeks, these medical professionals earn between $25,709 and $37,690 per year. Also, with the inclusion of overtime payments and bonuses, which average between 1 and 3 percent annually, certified medical coders can earn as much as $26,908 to $40,534 per year. Another salary tracking service, Indeed.com, indicates that a certified medical coder earns, on average, $42,000 per year, but Indeed includes several highly paid medical coders in their sampling.
Salary by Company Size
Certified medical coders usually earn higher hourly rates in larger companies that employ higher numbers of employees. For example, those who work for companies with up to 49 employees earn hourly rates between $12.06 and $17.08 per hour, according to PayScale, which equals $25,085 to $35,526 annually, based on 40-hour workweeks. Those working for companies with 50 to 599 employees can expect to earn $12.61 to $17.87 per hour, or $26,229 to $37,170 annually. Vertified medical coders that work for companies employing over 2,000 employees earn $12.49 to $22.17 per hour, or $25,979 to $46,114 per year.
Salary by Medical Institution
Certified medical coders' hourly and annual wages vary according to the medical institutions for which they work. For example, those working in a general hospital setting earn some of the highest hourly rates at $12.89 to $19.65, per PayScale, which equates to annual salaries of $26,811 to $40,872, based on 40-hour workweeks. Those working in ambulatory care or surgery centers of hospitals also earn relatively high wages, at $13.13 to $19.37 per hour, or $27,310 to $40,290 per year. Those working in community or home health centers can expect to earn $12.21 to $17.92 hourly, or $25.397 to $37,274 annually.
Salary by School Name
Certified medical specialists' salaries vary according to where they earn their associate degree, which is the standard education level for this profession. For example, those who receive their degrees from the Devry University earn some of the highest hourly wages, at $12.00 to $20.50, or $24,960 to $42.640 annually, based on 40-hour workweeks. Those who go to Concorde Career College also earn relatively high wages at $12.00 to $19.00 per hour, or $24,960 to $39,520 annually. Certified medical coders who attend the University of Phoenix earn $13.68 to $16.57 per hour, or $28,454 to $44,466 per year.