Finding a career that’s challenging and brings a decent wage can often be difficult. Do you want to be part of the healthcare industry but not sure if you want patient contact? If so, you may find that becoming a medical insurance billing and coding specialist is an ideal choice. Read here and learn about the medical insurance billing and coding salary range.
What Exactly Is a Medical Insurance Biller and Coder?
A medical insurance biller and coder is the individual who converts medical treatments into codes and/or symbols and submits the claims to insurance companies and patients for reimbursement. When you see a doctor, the doctor makes notes as to the treatment that has been provided. These notations go to the medical biller and coder who will code them, according to the International Classification of Diseases (ICD) coding system, and submit them got payment.
As of May 2012, medical records and health information technicians, the area that these professionals are categorized, earned an average annual wage of $37,710, according to the U.S. Bureau of Labor Statistics (BLS). In New Jersey, they earned a mean annual wage of more than $44,000 whereas those in Iowa earned about $34,000. Salary.com reported that medical records coding technicians nationwide earned an average salary of $46,522 as of June 2014.
The BLS reports that the five top paying states for this career in 2012 were New Jersey, California, Colorado, Connecticut and Alaska. There are many factors, other than just location, that can affect the medical insurance biller and coder salary range. These may include location, place of employment, skill level and number of certifications earned.
Will Training and Certification Enhance My Earning Potential?
Most medical insurance billing and coding specialists complete a training program and become certified. It’s very difficult to get a job as a medical insurance biller and coder without having training and/or certification. Training programs can be completed in one year for certificates and two years for those pursuing degrees in this field. This type of training includes both medical and office classes.
Graduates can become certified by passing a certification exam through either the American Association of Professional Coders or the American Health Information Management Association. Completing a training program is usually required to be eligible to take the certification exam. Many insurance companies won’t submit payment unless the billing is handled by a certified medical insurance billing and coding specialist.