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Medical coding is a relatively new profession in the 'MedTech' realm, where medical coders are in charge of assigning medical codes to the diagnosis, therapy, and treatment of patients. However, with BLS estimating an 8% growth in the job outlook for medical coders and billers, it has started to emerge as a booming profession in the healthcare sector.
The result? The immense growth in medical coder salary figures, considering an equally growing demand for this role across industries like hospitals, financial institutions, and insurance companies, to monitor employment healthcare codes. In my opinion, once you have the required education and skill set along with considerable experience, you, too, can earn a lot in this discipline!
The healthcare coding salary varies according to various factors such as location, experience demand, industry, education, skill set, and so on. Read on to explore more about medical billing and coding salary based on the various important factors.
But first, let's decode exactly who a medical coder is.
Medical coders are the professionals who translate doctors' reports, test results, and the case histories of patients into useful and uniform medical codes. These codes help companies in the healthcare sector to store and retain their patients' data properly. Medical coding professionals ensure that they store patient data in the computer system in an accurate and consistent manner.
This profession is at its growing stage, and with the ever-evolving technological advancements, the demand for medical coding professionals is increasing every day. Hence, salary figures for medical billing jobs have also seen significant growth in the past few years.
Here's what a usual medical coding pay rate (Source: Indeed) looks like:
Per hour | USD 25.22 per hour |
Per month | USD 4,108 per month |
Per year | USD 58,015 per year |
Every company in the healthcare industry needs medical coding experts, which puts medical coders in high demand. Due to their significant and unique job duties, these professionals are paid lucrative salary packages globally. As I have experienced throughout these years, the medical coding pay rate is contingent on several variables such as experience, geographical region, industry, educational background, skill set, and so on.
The average medical coding starting pay in the United States is USD 58,015 annually (Source: Indeed). If you wish to upskill yourself in this field, I recommend you check out online courses by KnowledgeHut and explore the various benefits of this program.
The average annual salary of a medical coding professional at an intermediate level in the United States is USD 64,202 (Source: Salary.com).
The average medical coding pay for senior professionals in the United States is USD 66,047 annually (Source: Salary.com).
The job location is another significant component that impacts the earnings of a medical coder. I have provided a comparison of medical coding income across various countries and companies.
Medical billing coding salary varies based on which city or state in India you are working in. Here's what I found in my research:
City | Average Annual Salary (Source: Ambitionbox) |
Kolkata | INR 2.8 Lakhs |
Mumbai | INR 3.5 Lakhs |
New Delhi | INR 4.1 Lakhs |
Bangalore | INR 4.4 Lakhs |
Here is a list of top companies in India offering lucrative salaries to medical coding professionals:
Company | Average Annual Salary |
XL Health | INR 5.2 Lakhs |
MiraMed Ajuba | INR 4.3 Lakhs |
Optum | INR 3.7 Lakhs |
AGS Health | INR 3.8 Lakhs |
Different cities in the United States have different salaries for medical coding experts. The cities that have the most opportunity for this job is enumerated as followers:
City | Average Annual Salary |
New York | USD 70,833 |
Brooklyn | USD 67,770 |
Chicago | USD 73,331 |
San Francisco | USD 80,277 |
Top companies in the United States paying the highest average medical coder salary are listed as followers:
Company | Average Annual Salary |
White Glove Placement, Inc | USD 86,227 |
Med-Scribe, Inc | USD 61,946 |
MJHS | USD 61,256 |
Infojini Inc | USD 55,161 |
Different cities in the United Kingdom offer the below-mentioned salaries to the medical coders:
City | Average Annual Salary |
London | GBP 35,040 |
Westminster | GBP 26,771 |
Sutton | GBP 35,756 |
Isleworth | GBP 28,284 |
Here is a list of the top companies in the United Kingdom that offer lucrative salaries to medical coders:
Company | Average Annual Salary |
Northern Care Alliance NHS Foundation Trust | GBP 46,793 |
NHS | GBP 40,320 |
Imperial College Healthcare NHS Trust | GBP 37,104 |
North Bristol NHS Trust | GBP 21,872 |
These are the top cities in Australia that provide the following billing coding salary to professionals:
City | Average Annual Salary |
Sydney | AUD 79,819 |
Queensland | AUD 87,641 |
Brisbane | AUD 80,300 |
Here is a list of top companies in Australia offering high salary packages to medical coders:
Company | Average Annual Salary |
Healthscope Limited | AUD 85,138 |
Ramsay Health Care | AUD 81,279 |
Murrumbidgee Local Health District | AUD 79,680 |
Medical coders are paid differently in different cities in Canada. The following table shows the salaries of the high-paying cities:
City | Average annual salary |
Ottawa | CAD 43,350 |
Toronto | CAD 36,076 |
Mississauga | CAD 40,240 |
The top companies with the highest medical billing coding pay in Canada are listed as follows:
Company | Average Annual Salary |
Inter Web Services | CAD 33,638 |
Little Champs Therapy and Yoga | CAD 29,153 |
Saskatchewan Government Insurance | CAD 49,439 |
Different cities in Singapore pay medical coders differently. The medical billing jobs salary in different cities in Singapore are explored as follows:
City | Average Annual Salary |
Woodlands | SGD 43,767 |
Yishun | SGD 35,972 |
Jurong East | SGD 52,852 |
The average pay rate of medical billing and coding in the top companies in Singapore is stated in the table below:
Company | Average Annual Salary |
KK Women's and Children's Hospital | SGD 38,945 |
M1 Limited | SGD 53,748 |
Persolkelly | SGD 44,612 |
The rise in data-driven technology has made medical coding experts crucial for every healthcare business. The healthcare industry needs medical coders to properly translate the details of a patient from their medical documents to some specific medical courses so that the information can be accurately stored as medical records of a patient. These standardized courses are increasingly used by the healthcare industries and insurance organizations for their billing and recordkeeping purposes.
Let me take you through the various factors that affect the pay rate of medical billing and coding professionals:
The job's location is a crucial factor in determining the salaries of medical coders. Regardless of your employment location, you will find the salaries vary greatly from one city to another, from one country to another.
For example, the average pay for medical coding in San Francisco is USD 80,277 per annum. On the contrary, for the same job role, Brooklyn employees are offered an average pay of USD 67,770 per annum. Hence, you can notice a great difference between the average annual salaries of these two cities for the same job role.
Every company has a distinct set of prerequisites when hiring an individual for a particular job role. I have come to understand through years of experience that an essential variable that influences professional salary is the company we work for.
For example, the average pay for medical coding in a leading organization like White Glove Placement Inc. is USD 86,272 per annum, whereas an individual for the same job position in Infojini Inc. is paid USD 55,161 per annum, comparatively lower than the former.
In my opinion, your skill increases as you gain more experience. If you are a qualified and experienced individual applying for the position of medical coder, you will be paid substantially more than a novice.
For instance, a beginner-level medical coder is paid an average annual salary of USD 58,015, whereas a medical coder expert with significant years of experience is generally paid an average annual salary of USD 66,047
Demand and supply regulate the employment market in an identical way as it governs the sale of goods and services. Individuals get remuneration that corresponds closely to the needs of the sector in which they are specialized. There is an increasing requirement for medical coders and experts in this discipline as more and more companies incorporate technology and data. It is a boon for the healthcare industry, and this illustrates the explanation for the attractive salaries that are offered to these specialists.
In my perspective, one of the most effective ways to boost your authority and credibility and exceed your peers is by pursuing relevant accredited certifications. Accredited courses may allow you to progress in this industry while establishing an identity for yourself. My capacity to stay updated with engaging technology and data-storing concepts has gotten better as an outcome of these courses. Enrolling in effective accredited courses has helped me enhance my career prospects.
To become a successful medical coder, you must possess the following skill set:
The pay scale for medical coding professionals can be increased in various ways. Some of the major factors that can be used to improve the pay rate of medical billing and coding are listed below:
In my journey as a medical coding expert, possessing a particular set of abilities has enabled me to distinguish myself from my competitors and outshine others in my field. Some of those skills are enumerated as follows:
Enrolling for effective certification courses in my field has been one of the finest ways for me to create a positive impact on potential employers. To become successful as a medical coder, you must have a solid portfolio with the relevant educational background and skill set. The medical coding certification salary is also more than that of the individuals who do not have any effective certification experience.
You can enroll in effective certification courses like the Certified Medical Coder (CMC) certificate. The American Academy of Professional Coders (AAPC) also has its own set of accredited courses from which you can choose.
Having a bachelor's degree in a relative discipline or any other appropriate degree is one of the essential criteria for getting employment in this field of work. Additionally, getting a master's degree can be very beneficial if you desire to advance the industry's success ladder.
As you acquire more work experience, your salary will rise automatically. The money you make is going to increase as you cultivate your skills and abilities as a medical coding specialist and gather more experience by working in various organizations throughout the years.
The discipline of medical coding is in great demand as every company in the healthcare industry is eyeing to store patient data and case histories in the computer system in the form of codes. This retains the accuracy and originality of the information.
A medical coder must possess the relevant skills and the education required to succeed in this field. Medical coding data is utilized to uplift the healthcare industry and build a seamless data storing process. This discipline requires qualified professionals to carry out this job accurately.
Therefore, when companies find medical coders who are educated, qualified, and good at their jobs, they try to retain them and motivate them to work better by providing lucrative salary packages.
The future of medical coding is promising. Medical coders and billers with the appropriate and relevant skills will remain in demand as long as they continue upskilling to manage the volume of data in the healthcare industry and make the most out of it.
The relevance of medical coding will only grow with the healthcare industry's development. Therefore, medical coders must be familiar with the recent developments in coding with the advent of new technologies. There will be an ongoing demand for medical coders in the future, so this is an amazing time to enter into this field of work. I recommend enrolling in the KnowledgeHut online course to get started! The course will help you learn all the essential skills and abilities vital for the job sector.
Certified medical coders who have done certification courses from accredited institutions such as the AAPC and CCS can earn relatively more than non-certified professionals.
In India, the facilities that offer the highest-paying salaries to medical coding professionals are XL Health, Optum, AGS Health, etc.
Acquiring relevant skills can increase the medical coder's salary scale. Some important skills are coding, abilities, computer skills, organizational abilities, analytical skills, etc.
