Various factors playing a role in altering the salary of a medical biller and coder including work experience, geographic location and type of employer, the job outlook for medical billers and coders in Idaho is very optimistic according to the United States Bureau of Labor Statistics (BLS), mainly due to the growing healthcare trend in this state. Moreover, BLS reports that with already 1000 individuals working as professional billers and coders, around 110 more job openings are expected every year in Idaho.
Statistics depicts that top earning potential in this profession in Idaho make a median annual wage of $40,930 while the bottom earners receive $21,180, the average annual medical billing and coding salary in Idaho being $30,910, comparing closely to Alabama salaries of approximately $29,000 annually.
According to the BLS data, the job outlook in Florida as well looks very promising with the top three employers along with other health centers expected to offer numerous jobs in the coming years, largely owing to the retirement of the elderly medical billers and coders in this state. Based on the BLS report there are around 10,880 medical billers and coders in Florida, and the average annual medical billing and coding salary is $33,860. Florida’s being one of the states in the US that have different pay rates for its billers and its coders, the top earners make around $53,930 in a year while the bottom earners get $20,590.
Analysts at Altarum Institute’s Center for Sustainable Health Spending reported in their latest labor brief an all round growth in health care employment last month of 23,000 jobs, nearly reaching the two-year average. Five US states depicting high potential of growth for education and health services where health care jobs are likely to grow the most are:-
|Florida – 4.8 percent
|Kentucky – 4.2 percent
|Delaware – 4.1 percent
|Wyoming – 4 percent
|West Virginia – 3.9 percent
Source: Moody’s Economy.com
Medical Billing Outlook: Compared to the average for all occupations through 2014, medical coding jobs are expected to grow the fastest according to the Bureau of Labor Statistics.
Current and Projected Employment:
A medical biller’s job is more secure with a strong background in medical coding due to the increased amount of paperwork involved in filing insurance claims. Health care has grown with the scope of health information management over the past five years and to combat the shortage of billers across US states one of the new techniques evolved include contract services.
Contract coding companies have emerged as a trend and have become nearly a $5 billion dollar business and are now helping many hospitals in US states to increase their revenue by almost 50%. Due to outsourcing hospitals and physician revenues are rising and in turn coders salaries too are increasing as they can earn 20 to 25% more than what is offered at most hospitals. Medicalbillersandcoders.com’s coding professionals are well versed with the industry needs and standards. We have 1000 medical billers and our certified medical coders are constantly trained and upgrading themselves to completely understand the procedures to be coded. The medical coding professional works as part of a team to achieve the best quality patient care and revenue maximization.