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 can now be said to be a reality because of 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.
Who are Medical Coding Specialties?
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.
To work, medical coding specialists must have an associate’s degree and certification.
What is the Average Salary for a Medical Coding Specialist?
Salaries for medical coders and billing specialists vary depending on a variety of criteria. These elements include expertise, certification, geography, workplace type, and experience.
Taking these variances into consideration, the Bureau of Labor and Statistics (BLS) determined that the average median income for medical records and health information experts in 2022 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 a year as of June 25, 2022. This is approximately $21.52 an hour which is the equivalent of $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.
Where do Medical Coders make the most Money?
Medical coders can make money anywhere provided they have the exceptional skills and experience needed. But for the sake of clarity, there is some part of the world that pays medical coders 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
- District of Columbia – $60,530 per year, $29.10 per hour
- Alaska – $58,620 per year, $28.18 per hour
- Washington – $56,890 per year, $27.35 per hour
- Massachusetts – $56,650 per year, $27.23 per hour
- Minnesota – $55,450 per year, $26.66 per hour. Note, this report is according to BLS.
What is the Highest-Paying Coding Certification?
The highest paying coding certification is Certified Professional Coder. As a Certified Professional Coder professional, you are likely to 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 just starting out.
How much can a Medical Coder make Per annum?
According to over Indeed.com report, the average income for an entry-level medical coding job is $43,980 per year. Though 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.
Top Highest Paid Medical Coding Specialties in the World.
#1. Certified Documentation Expert Outpatient (CDEO)
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 in order to meet coding, quality measures, and clinical needs. You’ll also give input to clinicians in order to improve clinical documentation and make it easier for them to meet all of the medical record’s criteria.
#2. Certified Coding Specialist
One of the highest-paid medical coding specialties is a certified coding specialist. This specialist collects data from doctors, internists, and other medical professionals 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 in reducing 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
#3. Certified Documentation Expert Outpatient
For risk change models, a Certified Risk Adjustment Coder reviews a medical chart and assigns the correct diagnostic (ICD-10-CM) codes for a wide range of clinical cases and services.
#4. Certified Outpatient Coder
In addition to patients’ CPT®, ICD-10, and HCPCS Level II coding skills, the Certified Outpatient Coder exam confirms particular payment knowledge required for these occupations.
#5. Certified Radiology Coder
Certified Radiology coder is one of the highest-paid medical coding specialists in the world. A good certified Radiology coder Codes diseases, conditions, and procedures for Inpatients, Outpatient surgery, Emergency room, Recurring, Laboratory, and Radiology visits.
#6. Certified Cardiovascular and Thoracic Coder
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.
#7. Certified Rheumatology Coder
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.
#8. Inpatient Coder
An inpatient coder is a medical professional who is 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 how to interpret and apply 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 have a thorough understanding of medical terminology pertaining to anatomy, biology, and pharmacology.
Keeping proper medical records is one of your key obligations. According to salary.com, the average Inpatient Coder salary in the United States is $51,162 annually.
#9. Ambulatory Surgery Centers Coder
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 require completely 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 major 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.
#10. Certified Urology Coder
The Certified Urology Coder certification confirms your knowledge of ICD-10-CM, CPT, and HCPCS level II coding, with a focus on ancillary treatments conducted in urology practices, surgical procedures performed by urologists, and time-based coding.
A certification in this discipline allows you to appropriately assign medical codes for urological surgical operations and services. 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.
With this list of highest-paid medical coding specialties in the world, you can now be sure of the career pathway to tread on if you want to be a medical coder.