As the demand for health care services increases, so does the need for medical billers and coder who assign codes to each diagnosis and procedure and manage reimbursement within physicians offices, hospitals, outpatient centers, and other healthcare settings, making expected growth in this field significant as more and more Americans reach old age and require more medical care.
With Purdue University Globals online Medical Billing and Coding Certificate program can provide you with the knowledge and technical skills required by employers in health care services. Purdue University Global offers multiple start dates, giving you greater flexibility with your education, life, and work schedules.
Also playing a role in salary determination are years of experience, type of employer, and how many hours the coder works per week.
Everything you need to get started in Medical Billing & Coding
Its not just credentials that influence the medical billing salary potential. Its also important to consider where these professionals live in the U.S., as coders who live in areas of the country with higher costs of living tend to be paid more, as do coders who work in urban areas as opposed to suburban or rural areas.
Job prospects for all such technicians will be very good, with the best job prospects available for those who have a solid grasp of technology and have a thorough understanding of computer software, the BLS notes.
The salary survey also showed that coders with two or more AAPC credentials earned an average annual salary of $60,305 in 2016, while those with three or more credentials earned $66,999 per year on average.
Medical billing and coding salaries also vary by industry. In May 2016,BLS reportedthat the median annual salaries for the top industries in which these professionals worked were as follows:
What is Medical Billing Coding
Job growth for health information technicians and medical records technicians will also be spurred by the rising use of electronic health records, and the need for specialized knowledge to manage such data, according to the BLS.
The American Academy of Professional Coders 2016 Salary Survey showed that coders who had earned the Certified Professional Coder (CPC) credential earned an average wage of approximately $52,690, according to theAAPC website. That average was a 2.4% increase from the previous year.
At Keiser University, you can schedule classes at your convenience to account for your busy schedule. Degrees are completed 100% online in practical, hands on format to give you the best education for your field. Prepare to begin your career in todays health care billing and coding systems with the Associate of Science degree in Medical Administrative Billing and Coding from Keiser University.
The national median salary for medical records technicians and health information technicians as of 2016 was $38,040, according to theBLS. However, salary data suggests that medical billers and coders who have earned additional credentials could have greater earning power.
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Medical Billing and Coding Salary Averages by State
The medical billing and coding profession is expected to see substantial employment growth because of the overall projected need for professionals in healthcare. While already a massive industry, healthcare is expected to grow exponentially due to the aging of the U.S. population.
Employment of medical records technicians and health information technicians, which includes medical billing and coding specialists, is expected to grow 13% between 2016 and 2026, according to theU.S. Bureau of Labor Statistics(BLS).
Those who have an in-depth knowledge of health information systems will have an advantage in finding employment, with amply prospects expected in all types of high-tech medical records tracking and billing.
With experience, education, and a willingness to take on new administrative responsibilities, medical billers and coders may become qualified to move up into a supervisory role or management position, further increasing their salary potential. Medical and health services managers, for example, earned a median yearly salary of $96,540 in 2016, according to theBLS.
Those who commit themselves to a career in medical billing and coding can expect good job prospects and healthy salaries well into the future.
Below, weve listed the median annual salary for specific job titles within the medical billing and coding profession, as gathered byPayScale.
Online Medical Billing and Coding Certificate