September 10, 2014
An upward trend has been registered in salaries for medical billers and coders in the US. Between 2012 and 2014, the demand for skilled and certified coders went up, flooding the market with coding jobs. Even though the salary increase is not equally distributed in all the states, experienced coders now draw more than what they used to.
According to the Bureau of Labor Statistics for Medical Records and Health Information Technicians, one out of every 1,429 person of approximately 243.7 million Americans workforce is into the medical billing and coding profession
Approximately 30% medical billers and coders in the US are employed in hospitals where they get paid $38,000 and above as an average salary
Cities Offering High Wages to Coders and Billers
Geographical differences in remuneration of these professionals are determined by the cost of living, demand for billing professionals and various other factors. States located in the Northeast and West Coast of the US offer the most attractive pay packages to billers and coders. Their average income ranges between $36,000 and $52,000 in states like New Jersey, Massachusetts, New Hampshire, and California. States like West Virginia, Alabama, Louisiana and Mississippi have lower living standards than the national average and coders and billers are paid between $22,500 and $32,000 annually here.
New Jersey tops the list of US states that offer high salaries ($55,130) to coders and billers. Second in the list is District of Columbia that offers $45,500. On the third and fourth spot are Hawaii and California where coders and billers are paid $42,500 and $42,270 respectively. The fifth state is Colorado; it offers an average salary of $42,110.
Trenton, NJ is the top metropolitan area that offers the highest wages ($58,010) to coders and billers. Second in the list is Newark, NJ that pays $57,960, followed by Edison with $55,930. Oakland and San Francisco follow suit with the figures $50,150 and $49, 350 respectively in California.
Which Medical Specialty pays High Wages to Coders and Billers?
Medicine Manufacturing and Pharmaceutical pays the highest average salary ($66,060) to experienced billers and coders. Insurance and Employee Benefit Funds pay $51,840, Scientific Research and Development Services pay $48,060 whereas $46,840 and $46,240 is paid by Grant-making and Giving Services and Federal Executive Branch respectively.
Largest Employers of Coders
General medicine and surgical hospitals are the largest employers of coding and billing professionals. Reportedly, this employer category employs 68,440 coders and billers (approximately 37.5% of the total workforce). Physician Offices are the second largest employers of coders and billers (around 40,230). On the third spot are Skilled Nursing Centers that employ 7.1% of the total workforce (around 12,980 coders and billers). Outpatient Care Centers and Home Health Care Services grabbed the fourth and sixth spot for employing 7,180 and 6,240 coders and billers respectively.
The job board of MedicalBillersandCoders.com offers a unique platform to coders and billers in finding a job in healthcare organizations. They can access MBC’s job portal, newsletters and the industry updates to gain relevant industry knowledge and job assistance. MBC also offers an ICD-10 training guide to help coders prepare for the transition.