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Over the years, medical coding specialties have been at their growth peak because of their relevance. The possibility of coding services, procedures, diagnoses, and treatments is now a reality because of the skills gained by medical coders.
For this reason, the paychecks of these specialists have also been at a high rate. In this article, you will learn more about medical coding specialists and the highest medical coding specialist in the world.
A medical coding expert works in a healthcare organization’s medical records billing department, such as a hospital or clinic, classifying illnesses and procedures to ease billing and reimbursement from Medicare or health insurance companies.
Medical coding specialists must have an associate’s degree and certification to work.
Salaries for medical coders and billing specialists vary depending on various criteria. These elements include expertise, certification, geography, workplace type, and experience.
Considering these variances, the Bureau of Labor and Statistics (BLS) determined that the average median income for medical records and health information experts in 2023 would be $44,090 per year.
According to Ziprecruiter.com, the average annual pay for a Medical Coder in the United States is $44,772 yearly as of June 25, 2023. This is approximately $21.52 an hour, equivalent to $861/week or $3,731/month.
Then according to the AAPC, non-certified coders earn an average of $42,015 per year, whereas qualified coders earn 33% more or $55,923 per year. With a second certification, the average compensation rises to $64,890. Billing and coding professionals earn an average yearly salary of $70,608 with additional credentials.
Medical coders can make Money anywhere, provided they have the exceptional skills and experience needed. But for clarity, some part of the world pays medical coders more handsomely than others.
So, as a medical coder, if you’re looking for where to make the most Money ever with your career, the list of states below is the highest-paying places for you
The highest-paying coding certification is Certified Professional Coder. As a Certified Professional Coder professional, you will earn an average annual salary of $54,051. This might vary substantially based on your experience.
The only thing about getting to this level is that it can take years to attain the CPC average if you are starting.
According to over Indeed.com report, the average income for an entry-level medical coding job is $43,980 per year. However, it varies by state, skills, and level of experience.
Aside from these variables, your stance as one of the highest-paid medical coding specialties will also be affected by the federal income tax bracket, State tax rate, Benefits, and deductions.
Here are the high-paying medical coding specialties in the world:
This is the highest-paid medical coding specialist in the world. This is because they play a vital role in this field.
As a Specialist in this sector, you must demonstrate experience in analyzing outpatient documentation for accuracy to meet coding, quality measures, and clinical needs.
You’ll also give input to clinicians to improve clinical documentation and make it easier for them to complete all the medical record’s criteria.
One of the highest-paid medical coding specialties is a certified coding specialist. This specialist collects data from doctors, internists, and other medical professionals and then uses medical coding to charge private and government-sponsored insurers.
Accurate and precise categorization of operations and treatments may assist their employer and clients reduce reimbursement timeframes.
As a Certified Coding Specialist, you will often receive records regarding diagnostic procedures, treatments, and prescriptions and uses these reports to classify the job.
Salary: $61,379 per year
A Certified Risk Adjustment Coder reviews a medical chart for risk change models and assigns the correct diagnostic (ICD-10-CM) codes for various clinical cases and services.
In addition to patients’ CPT®, ICD-10, and HCPCS Level II coding skills, the Certified Outpatient Coder exam confirms the particular payment knowledge required for these occupations.
A certified Radiology coder is one of the highest-paid medical coding specialists in the world. An excellent accredited Radiology coder Codes diseases, conditions, and procedures for Inpatients, Outpatient surgery, Emergency room, Recurring, Laboratory, and Radiology visits.
Individuals who hold the Certified Cardiovascular and Thoracic Surgery Coder (CCVTC) credential have demonstrated their ability to appropriately assign medical codes for surgical procedures and services in the fields of cardiovascular (heart and blood vessels) and thoracic (chest) surgery.
This is among the highest-paid medical coders in the world. To qualify for this position, you must pass the AAPC CRHC exam and become a member of AAPC.
You must also have 2-3 years of coding experience in the medical field.
An inpatient coder is a medical professional in charge of medical coding. As an inpatient coder, you are a certified professional who has received considerable training, both in class and on the job, in interpreting and applying medical codes to patient files based on health and treatment records received from doctors and nurses.
However, you will work with coding software to process claims and should thoroughly understand anatomy, biology, and pharmacology medical terminology.
Keeping proper medical records is one of your fundamental obligations. According to salary.com, the average Inpatient Coder salary in the United States is $51,162 annually.
Coding for Ambulatory Surgery Centers is a distinct specialty. Although it is a facility service, Medicare requires ASCs to send their bills to professional fee (Part B) payers while using the facility fee (Part A) claim form.
ASCs ultimately require other sets of regulations and bundling modifications. Many ASCs use the same codes as surgeons, but this might be a revenue “death kiss.” One of the primary services you will provide us, an Ambulatory Surgery Center coder, is reviewing the correctness of coding done by others.
With a certification in this field, you’ll work on ICD-10-CM, CPT, and HCPCS level II coding with a specialty in surgical procedures, drugs, and biologicals.
The Certified Urology Coder certification confirms your knowledge of ICD-10-CM, CPT, and HCPCS level II coding, focusing on ancillary treatments conducted in urology practices, surgical procedures performed by urologists, and time-based coding.
A certification in this discipline allows you to assign medical codes for urological surgical operations and services appropriately. This certification focuses on one’s ability to understand abstract physician notes, knowledge of Medicare billing, medical terminology, and anatomy and physiology related to the urinary system.
When selecting a certification, you should consider cost, professional objectives, and learning environment. Depending on the candidate’s degree of expertise and financial constraints, the finest medical coding certifications often provide them with various certification possibilities. Below, we go into great detail on selecting the best medical coding certificates.
Certain certification programs merely need you to sign up for an exam. Others, however, could demand that candidates undergo in-person training to qualify for it. You might favor one over the other based on your schedule. Choose the option that best fits your schedule and business requirements.
Some certification programs concentrate on practice management, risk adjustment, and medical claim denials. Others, such as the CPC® certification, let you enter the healthcare business without any prior expertise. However, you can train with the AAPC and pass the certification exam or gain some experience and become a professional coder.
If you are a seasoned professional, you might choose to obtain one of this field’s top certifications. These can be pricey so you might start with less expensive, lower-level certificates. You can use free budgeting tools to manage your funds, accumulate savings, and obtain the more costly qualifications later.
You can work as a medical coder by finishing a certificate or associate degree program at a recognized postsecondary school. The Medical Coding Specialist Certificate program at Santa Barbara City College is one of the best undergraduate options. It is reasonably priced and provides both on-campus and online studying opportunities.
No professional certification is necessary to work in medical coding. But receiving a certification raises your employability, develops your professional skills, and increases your earning potential. Additionally, you may network with other experts and create effective professional networks.
No, universities do not provide professional credentials in medical coding. To obtain an undergraduate degree, several institutions and colleges offer exceptional associate and certificate programs in medical coding and billing. These do not take the place of your professional certification.
No, finding a career in medical coding is not difficult. You can locate suitable employment because healthcare job openings and possibilities are growing yearly. A certification or degree can help your career prospects because the type of job you get depends on your expertise and educational background.
With this list of highest-paid medical coding specialties in the world, you can now be sure of the career pathway to tread if you want to be a medical coder.