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
- Organize and verify patient records, bills, and statements.
- Code patients' diagnoses and requests payment from insurance companies or individuals.
- Record and process patient data including treatment records, insurance information, bills, and payments.
- Set-up payment plans for patients.
Common Career Paths for Medical Billing/Coding Specialist
Medical Billing & Coding Specialists who transition into a Medical Billing Manager role may receive large pay increases as the latter position pays an average $42K per year. It is not uncommon for a Medical Billing & Coding Specialist to continue on 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 report using a pretty varied skill set on the job. Most notably, skills in Accounts Receivable, bill collections, Collections, and Electronic Medical Records are correlated to pay that is above average, with boosts between 4 percent and 15 percent. Those familiar with Billing also tend to know 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.
For Medical Billing & Coding Specialists, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. 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 $34K. Medical Billing & Coding Specialists who work for 10 to 20 years in their occupation tend to earn about $36K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $38K on average.
Pay Difference by Location
Surpassing the national average by 28 percent, Medical Billing & Coding Specialists in New York receive some of the highest pay in the country. Medical Billing & Coding Specialists can also look forward to large paychecks in cities like Portland (+21 percent), Dallas (+18 percent), Chicago (+10 percent), and Tampa (+2 percent). Medical Billing & Coding Specialists in Orlando take home the lowest salaries, earning a whopping 22 percent less than the national average. Workers in Jacksonville and Oklahoma City earn salaries that trail the national average for those in this profession (13 percent less and 12 percent less, respectively).