Medical billing and Coding Specialist are those people who translate the medical diagnoses description into medical terminology. These people can work in hospitals, nonprofit organizations, third party billing companies, dental offices, etc. Even in health insurance companies, medical billers and coders get opportunities to work. There are some medical billers or coders who work from home but the salary of the professionals working in offices and work from home varies. This kind of profession needs knowledge, aptitude, skills, research, planning, certification etc. A person should have a better understanding and learning ability to be a medical biller or coding specialist. There are lots of factors which make medical billing and coding salary vary.
Factors which differ in Medical Billing and Coding Salary
There are various factors which vary the salary of medical billing and coding like the medical care which a patient chose and the specialization. A medical biller working in physician’s office and a medical biller working at the government agency, salary will be different as their duties vary. A medical biller or coder who wants to work from home, the hourly rate would be $10 minimum and the higher rate would be $25, depending on the quality of work. People who are having more experience or are more educational can earn higher. Medical billers and coders work in unison and perhaps form groups when offering freelance services.
Benefits or Salary Offered to Medical Billers and Coding Specialists
The salary offered to medical billers and coders usually differs according to geographical regions. The starting salary of any medical biller is $10.09 to $14.03 per hour and after some experience, this salary can increase. People having experience of more than 5 years can earn up to $16.59 per hour. The coders who have specialized in a particular field have salary around $51,000. The pharmaceutical and medicine manufacturing industry pays more salary to medical billers and coders. The top paying cities are New Jersey and California in US as hospitals and healthcare is booming vastly. There are many steps which need to be followed while working from home and that is building the skills, fulfilling educational requirements, getting hired as a coder or medical biller, asking the employer about work from home opportunity, handling limitations of the employer, etc.
A person who is newly trained can have lots of troubles as he cannot find many clients and can have low salary compared to other billers who are working in the offices. The value added benefits which a full time employee gets in the profession is short and long term disability insurance, paid vacation, childcare discounts, health insurance, etc. cannot be provided to work from home employee. If a person sets a home based business, it is difficult that he gets more money. However, it is comfortable for moms who want to send their kids to school, have some household work and then, they can spend working hours. A career in medical billing and coding is better jobs but need some patience for people who are working from home.
Hence, a person has two options of working from home. He can work for any company which he can find online or can start his own business in medical billing and coding from which he can make money. This needs developing clients and maintaining them. Medical billers and coders are so much in demand that many healthcare units, insurance companies and hospitals have started outsourcing work to freelance medical coders and billers. Updated knowledge about the field will certainly boost the growth of company and in house work. However, working from home is more satisfying for many people as they can enjoy the liberty.