Top 5 Tips on How to Increase Your Medical Billing and Coding Salary

A medical biller is a medical specialist who has earned national certification in medical billing and has the skills to process insurance claims, while a medical coder codes insurance claims and is a different profession.

Medical billing and coding are two of the most sought after professionals in the medical industry and are likely to increase in demand by at least 3% each year between now and 2016. Therefore, it is not surprising to find that the increase in Medical billing and coding programs and classes are offered by many universities and schools around the world today. The main objective of offering these programs is to “produce” as many qualified medical billers and coders as possible to meet the needs of society in the next 5 years.

Theoretically, the salary of a medical biller and coder typically ranges from $26,000 to $33,000 per year; however, there are many influencing factors that can affect the salary of these medical professionals to some degree. Now let’s review some of the key factors that greatly affect medical biller and coder salary.

Yo. First of all is the geographic location in which you are working. In cities where the cost of living is high, generally the wages for most of the occupations that exist there will tend to be higher. There is no exception for the medical biller and coder.

ii. The organization he works for also plays a large role in determining his salary as a medical coder and biller. If you work at a large public hospital or nursing home, you may be paid better than if you work at a private specialty facility or small insurance corporation. The size of the corporations or institutions matters here.

iii. Inevitably, the higher the level of medical billing and coding education one managed to obtain and successfully pass from the accredited colleges or universities offering the medical billing and coding program, the higher the chances that one will demand a better salary. The same is true of the amount of training and work experience one was able to gain prior to landing in this new role. The broader your experience and exposure in this field, the better your chances of earning a higher salary due to your competitiveness and higher market value in the industry.

IV. Allowing yourself to move to the next level of specialization in the medical field is a great way to improve your skills, which can eventually lead you to a higher salary range. One can choose to specialize in cancer registry, physiological registry, mental illness registry and many more.

v. The type of industry also plays a role in the salary decision for these medical professions. Below are the top 4 paying industries in descending order;

-Pharmacist

– Professional, Labor or Political Organizations

-Federal government

– Business support services.