How Much Medical Coding Jobs Pay
Clearly, no conversation about the medical coding job outlook is complete without mentioning income. We are happy to let you know that there is a lot of great news to report concerning the wages.
The Department of Labor tracks wages and salaries for a very large number of occupations - this includes medical coding salary and wage information. The latest published Department of Labor statistics suggest that the mean annual income is around $32,000. The important thing to remember here is the term "mean". There's obviously far more to the story.
Here is a 2007 salary survey taken by the American Academy of Professional Coders (AAPC). It breaks it down so you can get a better idea about the actual income:
Average Annual Salary by Position:
Specialist: $30,000 - $35,000
Professional: $30,000 - $35,000
Manager: $40,000 - $45,000
Medical Billing Manager: $35,000 - $40,000
Audit Specialist: $40,000 - $45,000
Compliance Manager: $55,000 - $60,000
Medical Records Supervisor: $40,000 - $45,000
Administrator: $85,000 +
Here are a few things you need to be aware of in evaluating salary information.
1. Certified Coders typically make seventeen percent more than non-certified medical coders, according the American Academy of Professional Coders wage survey.
2. There is a very secure career path for expert coders. Salary rises with responsibility and greater certification. According to the AAPC Salary Survey, a complete eight percent of medical coders possessing a specialty credential earned in excess of $85,000 each year.
3. Endurance and practice in this occupation pays off, according to the 2007 AAPC Medical Coding Salary Survey. People with an entry level credential and one year or less of experience can earn up to $30,000 a year. People with eighteen or more years of experience make nearly eighty percent more: $45,000 - $50,000 annually.
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