Medical Coding Salaries There are many factors that may influence your medical billing and coding salary. Your geographic location, for instance, can play a big part in your level of compensation. In areas where the cost of living is higher and the local economy is thriving, medical coding salaries may be higher. Where you work will also make a difference. Whether you work in a hospital, private practice or another kind of establishment will affect you medical billing and coding salary. Your education level and amount of work experience will also determine your earning potential. Because of all the personal decisions and outside factors that shape your compensation, it is difficult to predict what your medical billing and coding salary will be. However, by looking at national human resources data compiled by Salary.com, we can see that the middle 50 percent of medical billers and coders made between $35,999 and $44,562 as of November, 2008. If you want more information about what you can expect in a medical billing and coding salary, there are several resources online that will give you a more in-depth report based on your personal data.  Increasing Medical Coding Salaries Through Career Advancement Gaining experience in the field can boost medical coding salaries. However, you can also increase your pay when you specialize or receive a promotion to a supervisory position. Many medical billers and coders advance by specializing in an area such as Medicare coding or cancer registry. Other experienced technicians advance to management and supervisor positions, overseeing the work of the coding, correspondence or discharge sections. Senior technicians with credentials may become director or assistant director of a medical records and health information department in a small facility. However, in larger institutions, the director is usually an administrator, with a bachelor's degree in medical records and health information administration. The Effect of Workplace on Medical Coding Salaries Choosing the right workplace plays a significant role in determining medical coding salaries. According to a 2006 report from the US Bureau of Labor Statistics, about two out of five medical coders worked in hospitals. The rest worked in doctors' offices, insurance companies, nursing homes, outpatient care centers and home health care services. |
