Median Annual Salary
According to The U.S Bureau of Labor Statistics (BLS) Occupational Outlook Handbook, 2014-15, the median expected annual salary for medical billers and coders is $34,160. Actual salaries may vary greatly based on specialization within the field, location, years of experience and a variety of other factors.
What is my earning potential?
As a medical biller and coder, your earning potential will increase as you spend more time in the field. Because medical coding is such a precise, detailed job, your ability to work quickly without making mistakes is something that will come with practice, and it’s a skill that will influence your earning potential.
According to the BLS, the top 10 percent of medical billers and coders earn more than $56,200 annually.
How do medical biller and coder salaries compare?
|Health Care Career||Median Annual Salary*|
*The salary information listed is based on a national average, unless noted. Actual salaries may vary greatly based on specialization within the field, location, years of experience and a variety of other factors. National long-term projections of employment growth may not reflect local and/or short-term economic or job conditions, and do not guarantee actual job growth.
Is there demand for this career?
Because of the impending transition from ICD-9 codes to the new ICD-10 system, the demand for skilled medical billers and coders is particularly high right now. Many facilities will be looking to hire new coders to help alleviate the difficulty of switching to a new system, and since this switch won't take place until October 2014, now is a great time to become a certified coder so you'll be ready to begin work when more staff is needed.
On top of this, continuous updates to technology used by medical billers and coders means that health care facilities are always in need of computer-proficient coders who can be trained to use new systems.
What is the job growth for this field?
Like many other health care professions, the employment of medical coders is expected to grow faster than average. In fact, this career is expected to grow by 22 percent through 2022, according to the BLS.
By comparison, all other U.S. occupations are expected to grow by 11 percent over that same time period.