Salary is one of the important factors that affect the selection of any job. If you are planning to take up medical coding as a career, you are going to join a growing field. Medical coding is the thriving career within the allied health care sector. As per studies, medical coding is considered to grow much faster than other associated health care careers through 2016, which will create umpteen number of job opportunities to the qualified medical coders. The great demand allows the medical coding professionals to earn a promising salary. However, what could be the salary of a medical coder?-is a common question that arises in every aspiring medical coder.
The salary of a medical coder depends on various factors. One of the key factors that affect salary of a medical coder is his/her education. Medical coding training can be obtained through online as well in the regular schools. Irrespective of the method of learning program, all aspiring medical coders are advised to take up courses that are properly accredited. Accredited courses are valued by all employers. It helps not only in getting a job, but also ensures a good pay. Training programs offer diploma course, associate degree and bachelor’s degree in medical coding. Graduated medical coders should take a separate exam to be certified. Certified medical coders experience great demand. The salary of a medical biller increases with the level of education he/she gained. A certified medical coding professional with a master’s degree enjoys a better salary when compared to a certified candidate with bachelor’s degree. Credentials from a continuing education also help to earn a better salary. These credentials prove that the medical coder has an abreast knowledge of the current trends, legal guidelines and the new codes.
Experience also plays a major role in the salary a medical coder. Medical coding is a job that demands lot of attention to details. Medical coder has to analyze the complex patient charts to assign sharp codes. Experience makes a medical coder more efficient and hence they can handle complex coding procedures. Experienced coders know most of the codes by heart and do not waste time searching the book for appropriate codes. This helps them to code more efficiently within the time frame. Hence, experienced medical coders earn better than an entry level coder.
The type of work location also affects the wage of a medical coder. Medical coders are hired by hospitals, clinics, nursing homes, insurance companies and so on. Medical coders who work in large hospitals handle lots of medical coding and hence they are paid more than a medical coder who works in a clinic.
Geographical location of the organization is another factor that decides the salary of a medical coder. Those who work in large cities earn more than the one who works in smaller cities. The discrepancy can be attributed to the high cost of living and thriving economy in those cities. Also, larger cities like New York City, Houston, and Boston have a higher minimum wage and hence employers are forced to give higher salary in those cities.
Even though salary is tailored according to the qualification and other personal circumstances of a medical coder, in general an entry level medical coder earns around $35,000 annually. The middle 50% of medical coders enjoy around $39,000 per year and a coder with ten or more years of experience earn around $45,000 per year.
Medical coding is a stable career which allows bringing home a descent salary. Anyone who is dedicated to the work and provides a quality coding service can definitely advance to a higher post in this career and that is the path to success as a medical coder.
Salaries