Friday, February 18, 2011

Medical Billing Salary Range

Although medical billing career may not earn a very high pay like other medical related jobs, medical billers do bring home a salary that is enough to live a fairly comfortable life.

Medical billing salary is influenced by lots of factors. The training gained in the billing field accounts for the major part. The person who completed a relevant course in the medical field, gains special skills and knowledge and this is a clear indication that he/she is putting extra efforts in order to perform a good job as a medical billing specialist. Depending on the education qualification, the hourly rate varies from $12-$15. Another most important factor that affects billing pay is how long someone has worked in the field. Medical specialist with experience of 1 year earns around $12 per hour. Those who have more experience in billing earn up to $16 per hour. However, the geographic location also plays a role in pay scale. For instance, areas where cost of living is high, the pay will be more. Billers who work in New York City, Houston, Chicago and California are able to pull a good amount of salary. Work locations such as hospital, billing company or private practice will also affect the salary. Since there are lots of factors which affect the salary of billing, it is really not easy to predict the pay scale. Studies have shown that 50% of people earned around $35,000-$45,000 annually.

Medical transacting can be a work at home opportunity, which can fetch a descent salary in a comfortable home environment. Most of the medical billers are paid hourly, rather than annually. While biller who is experienced can earn around $40,000 a year as an independent contractor working from home, a billing and coding specialist who runs his own firm can earn $100,000 a year. However, people who are searching for home based job should be very careful. There is lots of fraud going on in this field. These scammers charge hundred to thousand dollars and in exchange they claim they will help to get a placement in billing. They also promise that medical billing job can earn a substantial amount of money and no experience required. But in reality, those who paid to get a job end up with no job, no money. Billing is a very competitive field, so without experience or training in medical billing field, it is almost impossible to get a job.

The best way to get a good salary is get trained, have few years of experience, and by doing justice to the job. A medical billing professional with all these qualities will definitely earn a good salary.


froz said...

Well this has been an enlightening update on the salary range for medical billing jobs.. is another site that i found really helpful in this regard..