Medical Coding Salary
The average medical coding salary can vary depending on the setting in which the coder works; whether it be in a small town or a big city, and whether is in a large organisation like a hospital or clinic, or a smaller, doctor’s practice. Some medical coders even work from home. The rates of pay for a coder will also vary, depending on qualifications and experience. If you work from home your earnings will reflect how efficient you are and how many clients you have, so are likely to be more variable than those of someone with a full-time, fixed salary position.
Medical coding specialists help hospitals and other facilities manage the financial aspect of their services using a set of codes for specific treatments. An average minimum for someone starting out would be in the region of $10-12 per hour, increasing to about $16-19 per hour after 5 years. The US Bureau of Labor Statistics (BLS), suggests that medical records technicians earn an average of $16-18, which translates to about $33-35,000 per year
Certification is worthwhile, and can be expected to increase earnings, may be as much as to $20 per hour or over $40,000 per year, according to the American Academy of Professional codes. An average, realistic figure is about $16 per hour in general as a medical coding salary. Some areas of specialisation seem to command higher than the average medical coding salary. For example, nephrology coders can earn about $50,000 per year, and rheumatology coders up to $57,000 per year. On average, coders with a speciality credential can earn about $10,000 per year more than coders who are certified at the general level.
Medical coders arguably require more skills than medical billers, as they need some knowledge of medical terminology in order to understand patients’ record cards and extract the relevant information pertaining to treatments and procedures carried out.
Healthcare is one of the fastest growing areas of business enterprise in most developed countries, and provides for many different niche occupations like medical coding, and also medical billing. In the US you can find a suitable course at a college or university, of which there are many in each state, or you even learn your skills online. Often a medical coding course can be completed in a year or less.
Employment as a medical coder usually brings with it all the standard employment benefits, such as paid vacations and health insurance, while some offer special concessions such as flexible working hours.
A medical coder’s salary can vary somewhat depending on market conditions, but in the last few years, demand for these skills has been increasing, and looks set to continue in the same fashion for the foreseeable future. This strongly suggests that the niche of a medical coder is a worthwhile and rewarding career choice for anyone with a reasonable educational background. The job brings with it a certain amount of responsibility as mistakes can be costly, but can provide the satisfaction of being able to contribute in a practical way to helping people in their times of need. The ability of health resources to be able to meet peoples’ needs depends in no small way to adequate funding. A medical coding salary is good compared with other health jobs like a dental assistant and reflects the responsibility accuracy, and care which are all expected and necessary.
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