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How Much Does a Medical Billing Specialist Make? | Medical Coding Training Online

How Much Does a Medical Billing Specialist Make?

Although the average medical billing specialist will not earn as much money as others in the often high paying medical industry, you can be sure that you will bring home a salary that is enough to live a fairly comfortable lifestyle. According to the Bureau of Labor Statistics, medical records and health information technicians earned between $19,000 and $45,000. However, your actual salary will rely on a number of different factors, including the cost of living in your area, your level of education, the supply and demand of medical coders in your area, and the location in which you choose to work.

PayScale.com reports that for the first five years of employment, medical billing specialists can generally expect to earn just under $30,000. Once you have passed five years, you’ll earn about $33,000 or more. Working in a hospital, college or university, or operating as a self employed medical billing specialist will help you earn more than the average, so consider seeking out employment in one of these settings. Additionally, working in medical billing hotspots such as New York City, Houston, and Chicago can help you pull in a higher salary.

If you’d like to increase your salary, one surefire way to do so is to complete relevant medical billing education through an accredited program either from a local college or online school. Doing so will help you gain additional skills and knowledge as well as clearly indicate that you are willing to put in the effort to do an excellent job as a medical billing specialist. With the variety of scholarship programs that are available to medical billing students, you can make a small investment that pays off largely in the form of a better career and paycheck.