Medical Billing and Coding Salaries: What Medical Coder Gets Paid Most? (2024)
.png)
Table of Contents
According to the Bureau of Labor Statistics (BLS), medical records specialists—which include medical billers and coders—earn $53,690 per year or $25.82 per hour on average.
Within medical billing and coding, salaries can vary significantly based on many factors, including where you work, what certifications you have, and your experience. In this report, we will use BLS data and salary reports from the two leading medical billing and coding professional organizations, AHIMA and AAPC, to help you understand the salary landscape for medical billers and coders.
How Much Do Medical Billers and Coders Earn in Each State?
Medical billing and coding salaries can vary significantly depending on location. To give you a comprehensive view of how pay rates differ across the United States, we've compiled data from the BLS for medical records specialists, which includes medical billers and coders.
Washington state leads the nation with the highest average annual salary at $64,250, while Mississippi has the lowest average yearly wage among states at $42,440.
How Do Experience and Certifications Affect Salaries?
In medical billing and coding, certifications and experience are crucial in determining earning potential. As professionals acquire specialized knowledge and skills through certifications and gain valuable on-the-job experience, their salaries tend to increase. To better understand this relationship, let's examine data from the AAPC and AHIMA salary surveys.
Salaries by AAPC Certification
The data shows a range of median incomes across different certifications. Entry-level certifications such as Certified Professional Biller (CPB) and Certified Professional Coder (CPC) have median incomes of $56,981 and $58,895, respectively. Specialized certifications like Certified Outpatient Coder (COC) and Certified Risk Adjustment Coder (CRC) show higher median incomes exceeding $64,000. The highest median income in this dataset belongs to the Certified Professional Compliance Officer (CPCO) at $81,495. This data suggests a correlation between specialized certifications and higher median incomes in medical billing and coding.
Salaries by Experience, According to the AAPC
Medical billing and coding professionals often see their earnings grow over time. According to AAPC data, there appears to be a correlation between years of experience and increased income. However, it's important to note that it's challenging to separate the effects of expertise from additional certifications that professionals may acquire throughout their careers.
The data suggest that throughout a career, a medical billing and coding professional could see their income increase by up to 63%.
How Certifications and Years of Experience Impact Salaries, According to AHIMA
AHIMA's salary survey provides insights on salary by certification earned and by experience. This comprehensive data allows us to see how different certifications and years of experience can significantly impact earning potential in the medical billing and coding field.
Salaries by Job Setting or Employer Type
For medical billing and coding professionals, where you work can significantly impact how much you earn. Different healthcare settings and employer types offer varying salary ranges, influenced by organization size, patient volume, and specialization.
Average Salaries by Industry, According to the BLS
The following table illustrates the employment numbers, hourly mean wages, and annual mean wages for the industries that employ the most medical records professionals.
Salaries by Workplace, According to AAPC
The results of AAPC’s salary data show that income for medical coding professionals tends to increase with employer size, as larger health care organizations, such as health systems and large group practices, consistently offer higher wages.
Salaries by Workplace, According to AHIMA
AHIMA’s salary survey breaks down average salaries even more granularly. Their data reveals a wide range of salaries across various job settings. According to their data, home health and long-term care facilities pay the least, around $56,000 annually. While life science companies pay the most—more than $105,000 annually.
Bottom Line
Medical billing and coding professionals can expect a wide range of salaries depending on various factors:
- Average Earnings: According to the BLS, the average annual salary is $53,690, which can vary significantly.
- Certifications Matter: Specialized certifications like CPCO, CPC-I and CPPM tend to command higher salaries, often exceeding $75,000 annually.
- Experience Pays Off: With 30-plus years of experience, professionals can earn up to 63% more than entry-level positions.
- Workplace Impacts Salary: Larger organizations and specific sectors (like life sciences companies) generally offer higher salaries than smaller practices or home health settings.
- Geographic Variation: Salaries can differ substantially based on location. Medical billers and coders in Washington earn nearly $30,000 more on average than those in Mississippi.
- Growth Potential: The field offers opportunities for salary growth through gaining experience, obtaining additional certifications and strategic career moves.
For those considering or already in the field, investing in education, pursuing advanced certifications, and targeting larger healthcare organizations or specialized sectors could lead to higher earning potential in medical billing and coding.