Medical Billing/Coding Specialist Salary
Job Description for Medical Billing/Coding Specialist
Medical billing/coding specialists typically works in hospitals, clinics, and other medical facilities. They are responsible for handling billing information and associating bills with patients, and working with physicians and other members of their facility. Some day-to-day responsibilities expected of medical billing/coding specialists include keeping up to date with codes and regulatory standards of the medical industry, assisting with audits, and entering and verifying demographics of patients into the system. They also review and verify codes of diagnosis and procedures that are performed in the facility and update patient information on the computer.Read More...
These individuals typically work full time in an office setting, and they must be able to work at a computer for an extended period of time. However, they may spend some time moving around their office to talk to patients and physicians.
The minimum educational requirement for this position is typically a high school diploma or equivalent. Up to two years of relevant experience may be necessary depending on the employer. A Certified Professional Coder (CPC) certification is also needed. Billing coding specialist must have knowledge of medical terminology and the ability to type quickly. They must also pay attention to detail, have good communication skills, and be able to understand and follow directions.
Medical Billing/Coding Specialist Tasks
- Record and process patient data including treatment records, insurance information, bills, and payments.
- Set-up payment plans for patients.
- Organize and verify patient records, bills, and statements.
- Code patients' diagnoses and requests payment from insurance companies or individuals.
Common Career Paths for Medical Billing/Coding Specialist
At the upper end, Medical Billing & Coding Specialists who move into a Medical Billing Manager role can end up with a hefty increase in pay. The average income for Medical Billing Managers is a much higher $42K per year. It is not unusual for a Medical Billing & Coding Specialist to become a Certified Professional Coder or a Certified Medical Billing Specialist.
Medical Billing/Coding Specialist Job Listings
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Popular Skills for Medical Billing/Coding Specialist
Medical Billing & Coding Specialists seem to require a number of specific skills. Most notably, skills in Accounts Receivable, bill collections, Collections, and Medicaid & Medicare Billing are correlated to pay that is above average. It is often found that people who know Billing are also skilled in Insurance and Medicaid & Medicare Billing.
Pay by Experience Level for Medical Billing/Coding Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Medical Billing & Coding Specialists with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. The average worker who claims fewer than five years of experience earns around $30K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $35K. On average, Medical Billing & Coding Specialists make $37K following one to two decades on the job. Veterans who have acquired more than 20 years report a median income of $40K, which is generally higher than the pay reported by other tenure groups.
Pay Difference by Location
Home to some of the best pay for Medical Billing & Coding Specialists, New York offers exceptional salaries, 28 percent above the national average. Medical Billing & Coding Specialists can also look forward to large paychecks in cities like Los Angeles (+27 percent), Portland (+20 percent), Dallas (+17 percent), and Chicago (+9 percent). One of the biggest compensable factors for Medical Billing & Coding Specialists is geography, with workers in Orlando earning a whopping 24 percent below the national average. Below-median salaries also turn up in Oklahoma City and San Antonio (13 percent lower and 9 percent lower, respectively).
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Key Stats for Medical Billing/Coding Specialist
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