Medical Coding Salary Rates - 2011
The level of a Medical Coding Salary is often the very first thing people want to know before deciding to train for a career in medical coding.
As an answer, Salary.com sates in their statistics that the middle half of medical coders currently earn anywhere between $38,058 and $49,906 p.a., with the top ten percent earning $55,490 or more. Undoubtedly the medical coding salary levels current in 2011 is what attracts many into the profession.
The salary level available is even more attractive when you learn that an astounding 93 percent of medical coding positions are filled by female professionals, with their male counterparts only managing 7 percent of the overall total. In spite of many years of equal pay legislation being in place, women frequently find that their pay levels are still lower than men's but in the medical coding profession at least, this does not seem to be the case.
Some influencing Factors:
Of course, not all employees earning a medical coding salary will find that they take home a similar level of salary each month & this can be explained by a number of factors. In general, there are 3 major reasons for differences in salary levels:
Location: If living and working in an urban environment is your preference, you will almost certainly benefit from higher earning potential. Unsurprisingly, the higher cost of living in a city will be reflected in your wages. As an example, in January 2011 a medical coder working in Chicago could earn an hourly rate of between $16 and $24, whilst an employee doing exactly the same job in Indianapolis would be hard pushed to crack the $17.50 mark as their top hourly rate.
Education: You can easily gain a career in the healthcare sector with almost any level of general education. However, if your colleagues all hold a Masters Degree as a matter of course, your salary in that company will certainly be higher than if a 1-year certificate is the general requirement. Even if you try to compare earnings levels within the same specialty, you will undoubtedly find that those possessing a higher level of education are paid better.
Should you hold a Medical Billing and Coding Certificate, your hourly rate range would be in the region of $10 - $15 but should you be a Certified Coding Specialist (CCS), you would expect to receive £$15 - $23 per hour. Quite a surprising range, you'll agree!
Your level of experience will be a factor in determining your earning power - the longer you've been working as a medical coder, the greater your income will be when compared with someone fresh out of college.Environment: This factor is often coupled with location as the size of the medical organization you are employed by will influence the medical coding salary offered to you. Generally, the larger the institution, the better the rate of pay. A modest medical clinic of, say, 1-9 employees might offer an hourly rate of between $12 - $17 while a big organization of 5000 - 20000 employees will often offer an hourly rate range of $15 - $21.
No matter what your level of education, and no matter where you prefer to work, Medical Billing and Coding Salary levels are well worth the time to check out before making your career choice.
As an answer, Salary.com sates in their statistics that the middle half of medical coders currently earn anywhere between $38,058 and $49,906 p.a., with the top ten percent earning $55,490 or more. Undoubtedly the medical coding salary levels current in 2011 is what attracts many into the profession.
The salary level available is even more attractive when you learn that an astounding 93 percent of medical coding positions are filled by female professionals, with their male counterparts only managing 7 percent of the overall total. In spite of many years of equal pay legislation being in place, women frequently find that their pay levels are still lower than men's but in the medical coding profession at least, this does not seem to be the case.
Some influencing Factors:
Of course, not all employees earning a medical coding salary will find that they take home a similar level of salary each month & this can be explained by a number of factors. In general, there are 3 major reasons for differences in salary levels:
- Location
- Environment
- Education
Location: If living and working in an urban environment is your preference, you will almost certainly benefit from higher earning potential. Unsurprisingly, the higher cost of living in a city will be reflected in your wages. As an example, in January 2011 a medical coder working in Chicago could earn an hourly rate of between $16 and $24, whilst an employee doing exactly the same job in Indianapolis would be hard pushed to crack the $17.50 mark as their top hourly rate.
Education: You can easily gain a career in the healthcare sector with almost any level of general education. However, if your colleagues all hold a Masters Degree as a matter of course, your salary in that company will certainly be higher than if a 1-year certificate is the general requirement. Even if you try to compare earnings levels within the same specialty, you will undoubtedly find that those possessing a higher level of education are paid better.
Should you hold a Medical Billing and Coding Certificate, your hourly rate range would be in the region of $10 - $15 but should you be a Certified Coding Specialist (CCS), you would expect to receive £$15 - $23 per hour. Quite a surprising range, you'll agree!
Your level of experience will be a factor in determining your earning power - the longer you've been working as a medical coder, the greater your income will be when compared with someone fresh out of college.Environment: This factor is often coupled with location as the size of the medical organization you are employed by will influence the medical coding salary offered to you. Generally, the larger the institution, the better the rate of pay. A modest medical clinic of, say, 1-9 employees might offer an hourly rate of between $12 - $17 while a big organization of 5000 - 20000 employees will often offer an hourly rate range of $15 - $21.
No matter what your level of education, and no matter where you prefer to work, Medical Billing and Coding Salary levels are well worth the time to check out before making your career choice.
