Medical Coding Specialist Salary May Be Enviable But Not The Job!
Quite comparable to other health care related professions - The Average Salary of a Medical Coding Specialist with the right educational background is at a comfortable USD 42,000 per year (recorded on August 2012). Also the U.S. Bureau of Labor Statistics (BLS) have stated that the medical records and health information technicians salary range anywhere between USD 22,000 to USD 55,000 annually.
The future also looks bright for coding professionals with government spending expected to go up, so is their salary graph along with a rise in percentage of jobs.
Allied jobs – Average salary break up:
|Clinical Coding Specialist||$51,000|
|Medical Records Field Technician||$44,000|
|HIMS Coder Educator||$63,000|
|Coding And Reimbursement Specialist||$40,000|
|Inpatient Medical Coder||$59,000|
|Clinical Documentation Improvement Specialist||$113,000|
|Certified Coding Specialist||$41,000|
|RN Clinical Documentation Specialist||$97,000|
|Medical Coding Specialist||$39,000|
|Medical Record Retrieval Specialist||$28,000|
|Clinical Data Specialist||$46,000|
|Medical Records Administration Specialist||$62,000|
Data as on August 2012
While the above salary figures may sound rather enviable the same cannot be said about the work. Moreover even though the work appears very simple it is not the case at all - Medical coding specialist’s job requires tediously deciphering scores of medical data and then accurately assigning them specific codes, medical coders other skills need to include:
- Proficiency in translating documents to codes using recognized coding system (ICD-9-CM, CPT)
- Attention to detail and thorough knowledge of medical billing, procedures and terminology
- Proficiency in using medical billing software
- Well informed about medical privacy regulations
- May need to correspond about billing with insurance companies or patients occasionally
Medical coding specialist’s job doesn’t stop here, due to the changing healthcare industry they need to constantly be updated to acquire the salary they deserve. Following are few additional job requisites to be successful in the medical coding field:
- Education & Experience Counts: Salary range depends on regular upgrading education and experience, which at times includes extensive coursework. Typical Course Requirements include: Medical Office Procedures, Medical Keyboarding, Medical Terminology, Health Structure and Function, Health Care Records Management, Medical Insurance, Survey of Pathology, CPT-4 HCPCS II, III, Healthcare Laws and Ethics, Basic Coding ICD-9-CM, Basic Pharmacology, Medical Transcription, Externship, National Exam, General Education Requirements.
- Healthcare reforms: Health care reforms is changing medical billing documentation drastically by linking physician reimbursements to quality outcomes, Medical coders need to be updated about -Electronic Health Recording for availing incentives, the documentation demanded under Medicare’s ACO model and the ICD-10 and HIPAA 5010 transition, including various others
- Where You Work Matters: Medical coding jobs differ also with the size of the employer, hence they need to search for the right type of employer with their skills and qualifications
- Geography and Earning Potential: Generally Medical coding specialists working in urban settings will earn comparatively more than their counterparts working in rural settings
However despite these challenges with the job and salary graph rising there are numerous opportunities for medical coders to grasp.
MBC offers Medical Coders an avenue to grasp these opportunities!
Medical Coding Specialists can have access to numerous suitable opportunities through Medicalbillersandcoders - providing a platform for medical billers and coders through their job board to acquire jobs and the apt salary across all 50 states in various healthcare organizations.
MBC’s largest consortium of Medical Billers and Coders - experts are constantly updated with the upcoming healthcare reforms requisites including ICD-10, CM through their in-house ICD-10 training program. MBC being specialists in the billing and coding field is able to provide solutions to healthcare providers across all specialties - our experts are able to solely concentrate on sharpening their billing and coding skills hence helping providers get their revenue on time.