Medical billing and coding is a fast-growing industry that shows no signs of slowing down in the future. With the right education and credentials, those in the medical billing and coding industry can make a nice and comfortable living. But just how much is the average medical billing and coding salary, and what can you expect to make in both the short and long term?
Below, we’ll take a look at some medical billing and coding salary facts and figures to give you a better idea of what you can expect in this exciting and expanding line of work.
Medical Billing and Coding Salary Facts and Figures
So what kind of medical billing and coding salary can you expect when you enter the field? According to the United States Bureau of Labor Statistics, the average medical billing and coding salary was $34,160 per year for 2012. Based on that figure, the averaged medical billing and coding salary paid $16.42 per hour.
As is the norm with just about every possession, medical billing and coding salary figures vary by state. For example, the average medical billing and coding salary for employees in New Jersey is just under $52,000. At the other end of the spectrum, the average medical billing and coding salary for workers in Alaska is just under $30,000.
While clearly total salary can be based on your location, the US BLS says that employment of medical billers and coders is expected to rise over 20% between 2012 and 2022. The future job prospects, and thus future medical billing and coding salary outlook, are bright for those that have a good education and are up to date on the latest forms of technology.
Those who have better credentials have the potential to be offered a much greater medical billing and coding salary. For example, the American Academy of Professional Coders says those who have earned CPC status reported an average salary of nearly $47,000 per year, or nearly $13,000 more than the national average salary.