It's obvious that no conversation about medical coding employment is complete without talking about wages. We are happy to let you know that there's a lot of great news regarding the wages of medical coders.
The last published Department of Labor statistics suggest that the mean medical coder earns close to $32,000 each year. It is crucial that we realize that the term used is "average". Yes, there is definitely more to this than meets the eye.
The American Academy of Professional Coders publishes an annual survey of medical coding wage and salary information. The 2007 salary survey contains the following information:
Average Medical Coding Industry Annual Salary by Position:
Medical Coding Specialist: $30,000 - $35,000
Medical Coding Professional: $30,000 - $35,000
Medical Coding Manager: $40,000 - $45,000
Medical Billing Manager: $35,000 - $40,000
Medical Coding Audit Specialist: $40,000 - $45,000
Medical Coding 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 this salary information.
1. Certified Coders typically make seventeen percent more than non-certified medical coders, according the American Academy of Professional Coders income survey.
2. There is a extremely solid career path for medical coding professionals. Wages increase with responsibility and advanced certification. A full 8% of medical coders having a specialty credential earned above $85,000 each year.
3. Determination and practice in the medical coding occupation pays off. People with basic credentials and a year of experience can earn up to $30,000 annually. Those with 18 or more years of experience make an average of 70% to 80% more: $45,000 - $50,000 each year.