The medical coding industry is growing at an exponential rate. What does this mean for medical coders? It means more opportunity, higher pay, and a chance to have the job of your dreams!
If you are into details – medical coding is perfect for you.
One medical coder said that she has never been bored with her work because there are always new challenges.
How much does a medical coder make?
The average annual salary can range from $30k-$55k depending on experience level and location.
This might seem like a lot less than other careers but medical coding doesn’t require you to go to college or spend years in school preparing for it.
Working at Home as a Medical Coder
As an experienced medical coder, you will likely work for yourself or at home in your free time providing services to local hospitals/clinics that don’t have enough employees yet still need their documents coded accurately.
Despite the common belief that medical records and health information technicians is a dying career, jobs in this industry are actually expanding. The Bureau of Labor Statistics predicts an 11% growth within ten years for these positions due to employers needing to pay highly competitive salaries in order to attract talented candidates.
This means that medical coding professionals will likely have a bright future as they can expect to remain employed throughout the next decade, and beyond.
The medical coding industry is growing faster than almost any other career field – however not all medical coders work in hospitals or clinics. In fact, there are quite a few home-based medical coder jobs available these days for those who want to make their own schedule from the comfort of their computer desk at home!
Medical Coding Certification Matters
There are many benefits to becoming a medical coder, namely that it doesn’t require years of schooling or clinicals.
Do you think it’s impossible to make almost $10,000 in salary difference by getting only one certification? Well people who venture into this field do achieve such a high increase.
By receiving just one extra certification (i.e., medical coding specialist) and going through the AAPC training process for that particular exam, your average yearly pay can jump up to $51,426!
And, keep in mind, a coder/billing salary is much more than what a HHA can make a year.
Employer Can Make a Big Difference
How much do medical coders make an hour?
Getting a job in medical coding is different from other fields because the company you work for makes all of the difference. You can get paid more or less depending on what type of healthcare company it is that you’re representing.
The good news, however, is that there are plenty places to choose from!
Medical Coding Salary: by State and Employer
|AREA||State||Employer||Title||Employment||EMP_PRSE||PCT_TOTAL||Hourly Rate||Annual Salary|
|42||Pennsylvania||Medical Equipment and Supplies Manufacturing||Medical Dosimetrists, Medical Records Specialists, and Health Technologists and Technicians, All Other||110||45.5||0.9||23.0||47,920|
|12||Florida||Professional and Commercial Equipment and Sup||Medical Dosimetrists, Medical Records Specialists, and Health Technologists and Technicians, All Other||0||0.0||0.0||16.6||34,620|
|48||Texas||Professional and Commercial Equipment and Sup||Medical Dosimetrists, Medical Records Specialists, and Health Technologists and Technicians, All Other||60||43.2||0.1||17.8||37,040|
|12||Florida||Health and Personal Care Stores||360||39.3||0.5||16.4||34,040|
|18||Indiana||Health and Personal Care Stores||0||0.0||0.0||16.6||34,580|
|26||Michigan||Health and Personal Care Stores||40||40.4||0.1||20.6||42,770|
|39||Ohio||Health and Personal Care Stores||60||23.9||0.2||20.0||41,520|
|42||Pennsylvania||Health and Personal Care Stores||130||28.8||0.3||23.1||47,940|
|25||Massachusetts||Data Processing, Hosting, and Related Service||140||49.1||1.6||23.5||48,770|
|39||Ohio||Data Processing, Hosting, and Related Service||110||39.1||1.3||19.7||40,910|
|35||New Mexico||Insurance Carriers||130||4.6||2.1||20.1||41,730|
|36||New York||Insurance Carriers||210||22.9||0.3||29.4||61,240|
|72||Puerto Rico||Insurance Carriers||50||6.1||0.4||10.1||20,980|
|12||Florida||Agencies, Brokerages, and Other Insurance Rel||180||31.4||0.2||23.1||47,960|
|30||Montana||Agencies, Brokerages, and Other Insurance Rel||60||45.9||1.2||21.2||43,990|
|33||New Hampshire||Agencies, Brokerages, and Other Insurance Rel||50||44.2||0.9||23.0||47,930|
|36||New York||Agencies, Brokerages, and Other Insurance Rel||0||0.0||0.0||26.5||55,210|
|37||North Carolina||Agencies, Brokerages, and Other Insurance Rel||70||43.7||0.2||19.3||40,070|
|39||Ohio||Agencies, Brokerages, and Other Insurance Rel||150||27.0||0.4||20.4||42,340|
|42||Pennsylvania||Agencies, Brokerages, and Other Insurance Rel||120||37.7||0.2||25.4||52,920|
|48||Texas||Agencies, Brokerages, and Other Insurance Rel||210||49.3||0.2||21.7||45,100|
|53||Washington||Agencies, Brokerages, and Other Insurance Rel||0||0.0||0.0||27.6||57,340|
|36||New York||Legal Services||0||0.0||0.0||22.6||46,970|
|37||North Carolina||Legal Services||0||0.0||0.0||24.1||50,220|
|1||Alabama||Accounting, Tax Preparation, Bookkeeping, and||0||0.0||0.0||16.5||34,270|
|4||Arizona||Accounting, Tax Preparation, Bookkeeping, and||0||0.0||0.0||18.1||37,580|
|6||California||Accounting, Tax Preparation, Bookkeeping, and||600||31.4||0.5||23.0||47,770|
|8||Colorado||Accounting, Tax Preparation, Bookkeeping, and||150||12.2||0.7||27.2||56,540|
|10||Delaware||Accounting, Tax Preparation, Bookkeeping, and||180||43.5||8.2||25.4||52,730|
|12||Florida||Accounting, Tax Preparation, Bookkeeping, and||800||23.6||1.2||18.8||39,110|
|13||Georgia||Accounting, Tax Preparation, Bookkeeping, and||230||34.1||0.6||30.5||63,430|
|Average: 22.9||Average: 47,629.8|
It is also important that you know medical coding is not only limited to hospitals and doctor’s offices; many industries are now using it as well! A few examples would be medical equipment suppliers, medical billing services (like the ones mentioned above), pharmaceutical companies, home healthcare agencies, long term care facilities like nursing homes, or even insurance providers who need medical coders on staff for their own internal use.
The possibilities truly are endless when it comes to this career field.
If you want to make a good salary and enjoy your work, now is the time for medical coding.
The industry needs more coders because Baby Boomers are aging rapidly and will need healthcare workers who can handle them.
In addition, you can sprint up the corporate ladder as a coder by pursuing certifications. Getting only one accreditation makes a huge difference in the eyes of employers. Other coders realize this and established helpful study groups across the internet.
Finally, if you decide to be a full-time remote coder working for any organization is an option. If money’s important to your bottom line choose one of the higher paying places.