How Much Do Medical Billers and Coders Actually Make?

To be a successful medical coder or biller, you need to possess a tremendous amount of knowledge. You need to know about things like ICD 11 diagnosis codes, NPI look-up, CPT codes and even HIPAA compliance. The good news is all that knowledge can pay off with competitive pay and benefits.

So how much do medical billers and coders actually make? That depends on a variety of factors, including:

●    Knowledge and experience
●    Job title and responsibilities
●    Employer size and market
●    Geographic location.

We will examine some of the actual numbers below. But first, it is important to understand the difference between working for someone else as a medical coder or biller and running your own business as an outsourcing partner.

Plenty of medical providers outsource both coding and billing to third-party partners. If you were to start such a company on your own, you could work alone or hire a staff. Obviously, your earning potential would be commensurate with your ability to keep your customers happy and bring in new business.

Average Salaries Around the Nation

Medical coders and billers do quite well here in the U.S. On average, medical billing specialists in New York make just under $53,000 annually. Medical coding technicians make just over $68,000.

In Alabama, the average for both is just over $48,000. Average salaries in some of the other states include:

●    California – $66,000
●    Connecticut – $62,000
●    Georgia – $55,000
●    Kansas – $54,000.

These are all average numbers for entry-level coding and billing specialists. With time and experience, salaries tend to go up. And of course, specialists who take on roles with more responsibility earn more money.

Clerks, Supervisors, and Managers

Medical coding and billing are dominated mostly by three types of employees: clerks, supervisors, and managers. Clerks are the entry-level employees that do most of the manual labor involved in code look-up and data entry. Clerks are sometimes referred to as coding technicians and billing specialists.

Managers are responsible for overseeing the work of a select group of coders or billers. They obviously earn more than their entry-level counterparts. They also report to supervisors who oversee entire medical coding and billing departments. Supervisors make more than both managers and clerks.

There is a fourth category: medical billing analyst. This is an individual tasked with pouring over coding and billing records and analyzing them in terms of accuracy, payment speed, and other factors. Needless to say, analysts enjoy a competitive salary as well.

Opportunities to Be Had

The good news for anyone looking to get into medical coding or billing is that opportunities are out there to be had. This is one industry that is expected to grow considerably over the next 5 to 10 years.

So how does one become a medical coder or biller? Most would-be coders and billers start with a training program that ultimately leads to certification. Although certification isn't necessarily a legal requirement in every state, medical providers and third-party billing companies tend to require it.

With training and certification in hand, it is a simple matter of applying for jobs. Coders and billers can find work at family practices, after-hours clinics, hospitals, assisted-living facilities, and just about anywhere else medical care is provided. Applying for a job with a third-party coding and billing company is another option.

If you are looking for a stable career that offers a competitive salary and strong benefits, it is hard to go wrong with medical billing or coding. Both services will continue to be in high demand for the foreseeable future. It's a good industry to be involved with.

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