The truth behind the scene is revealed to you in this session. Have you ever wondered, what happens after you leave the clinic or the hospital? Stop here, to check out about medical billing and what it got to do with your diagnostic papers.
Almost every one of us, have been to the hospital or to the doctor’s clinic to have a check-up done. This can be for you or your family members. You might have wondered about what happens at the office once you walk out from that place. The truth is that, once the doctor examines you and performs the necessary tests, the doctor hands all the paperwork to his office support staff. The office support staffs then arrange the file, and send it to the insurance company for the claim. The office support staff is normally called the medical biller and coders. The salary for medical billing and coding depends on the variables mentioned below.
Medical Billing jobs from home:
Everyday, you can find thousands of individuals responding to jobs that can be done from home. Medical billing from home is one such job that can supplement your income. This is a new revenue stream that you can rely on to help you through the crisis. The work from home industry has opened several revenue streams over the last few years. People are able to make few extra dollars per month. The medical coding and billing salary for a person working at home is expected to be $40K in the first year.
Let’s get down here to work through the logic. You can work as a medical biller when you are hired by a doctor or any sort of employer from the healthcare organization. You will be asked to perform certain functions initially at the employer’s office. Over a six-month period, when the employer gains trust over you, then he or she might allow you to work from home for the same salary that you usually pay. The pay can increase through the years. It depends on your working hours, number of years, and the place you work in.
Most of the “ads” that you see on the television, and the internet can mislead you, like they are just opportunities, but they sound like you can directly work from home as soon as you get the job as a medical coder or biller. The truth is that these people who put up the advertisement are just vendors that are selling the medical billing work model. They just claim that there are lots of physicians waiting for your services. Finally, you know what the vendors are up to. They say that they can provide you with the education that is needed to become a medical biller.
If you heed to such advertisements then you are the victim. Many people make millions through such misleading ads. Don’t fall into the trap. The best way to do is work for an employer at his own office. Prove your skills until he allows you to work from home.
What is medical billing and coding salary?
There is a slight difference between a medical coding and medical billing. Only when you know the difference between the two, you can make an actual judgement on the medical coding and billing salary.
Medical billing purely involves filling out of the medical forms for claiming insurance. The medical biller has to make sure that the insurance forms are correctly filled and submitted at the right time to the insurance company. He also makes sure that the insurance claim form is accepted, and the payment reaches the doctor or the medical practitioner. Insurance companies a lot of time delays the payments. This is where the role of a medical biller becomes effective.
On the other hand, the job of the medical coder is to see through the patient’s file and make the necessary changes by following the right procedure, thereby using the right codes that are accepted by the insurance companies. A medical coder can work as a biller too. In few organizations, medical billers and coders work together but each of them performs their task independently.
Medical billing coding salary:
The salary for medical billing and coding varies with region, industry, education level and experience. Almost fifty percentages of individuals working in this profession earn somewhere around $24,290 and $39,490 per annum in United States of America. The hourly wage for a medical biller or coder will be $11.67 to $18.98 an hour. The highest paid medical biller in the city earns more than $50,000 per annum. The income for a medical coder varies with certain factors like population density, number of specialists employed at the Institute and demand in that region. A medical biller wanting more salary can work through it by getting experienced in this field. He or she can undergo training and work towards the certification examination. This way, they could set themselves apart from the other fellow medical billers and coders.
Here are some facts that you might find interesting to know. The highest paying state for medical coding and billing professional is New Jersey. The hourly wage of New Jersey is $21.99, which makes $45,750 for a year. The other states following the line is Hawaii, District of Columbia, Alaska and Maryland. The pay rates can differ within the state too. Like, if it is a metropolitan city you get paid more and vice versa. The places with high density of population usually pay you more than the cities that are less populated. According to statistics, it has been found out that the highest paying cities are Newark, San Jose, San Francisco, Vineland and Edison. The hourly wages in these cities start from $24.71 to $21.10.
Medical coding and billing salary by industry:
When you look at the different areas of healthcare industries, you will find that the pay differs with every industry. The wages may be lower in industries that employ many medical billers and coders, whereas the wages could be high at places where only specialists in this field are employed. The average wages in every industry have been taken, and the list is as follows. It starts with the Pharmaceutical & Medicine Manufacturing, Professional Organizations, Federal Executive Branch, Support Services and Scientific Research & Development.
Hence, the salary totally depends on where you work, and with whom you work with.