Coding specialists can make more on their paychecks with certification.
Insurance billing and medical coding specialists are trained to use a variety of software that assigns specific codes to health records. The codes are used to inform insurance companies how much they must reimburse patients for treatments and procedures. Although certification is not usually required, certified coding specialists tend to earn a higher salary on average than those who lack credentials.
Salary
The American Association of Professional Coders' 2010 Salary Report shows that certified billing and coding specialists earned an average of $45,404 annually, while those without certification earned an average of $37,746. Salaries vary depending on how much experience the coder has; the average for a coding specialist with one year of experience was $34,551, the average for one with ten years of experience was $45,683, and the average for a coder with 20 years of experience was $51,563 a year.
Type of Certification
Coding specialists may pursue several different types of certification based on their area of interest, such as management or instruction. Those with the CPC-I certification earned the highest salary average as of 2010, at $69,207, which the American Association of Professional Coders credits to the fact that they are often in senior positions or work as consultants. Coders who possessed the CPC-A, which is the first level of Certified Professional Coder and indicates an Apprentice, earned the lowest salary average of certified coders, at $33,033 a year. Certified Professional Coders (CPC) earned an average of $45,347, and those with hospital certification (CPC-H) earned an average of $51,768 a year.
Education
Even with certification, coding specialists can benefit from pursuing higher education. The AAPC reports that certified coders with a high school diploma earned an average of $41,272 in 2010, while those with a diploma from a technical school earned an average of $41,017. An associate degree helped certified coders bring in an average of $43,868 a year, and a bachelor's degree helped coders bring in an average of $51,389 annually.
Workplace
Certified billing and coding specialists may work in a variety of types and sizes of medical facilities. In 2010, the AAPC reports that certified coders working independently earned an average of $40,430 a year. Those in small practices earned an average of $42,043, while medium and large practices offered salary averages of $41,985 and $45,480, respectively. Certified coders working in outpatient hospitals earned an average of $45,005 a year, and inpatient hospital's employed certified coders for the average of $47,848 a year.
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