How Much Do Medical Billing and Coding Specialists Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary medical billing and coding specialists make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for medical billing and coding specialists and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of medical billing and coding specialists are offering as compensation.
Keep reading to learn more about how much medical billing and coding specialists can expect to make in the United States.
At a Glance: Salary & Jobs for Medical Billing and Coding Specialists
According to data from 2023, there were about 189,976 positions for medical billing and coding specialists in the United States. In terms of salary, the national median salary for medical billing and coding specialists was reported to be $48,776. Additionally, when examining job demand, employers across the country posted 93,179 job postings related to positions for medical billing and coding specialists.
How Much Money Do Medical Billing and Coding Specialists Make?
Median salary is just one data point. To build a better understanding of how much money medical billing and coding specialists and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for medical billing and coding specialists.
Annual Salary for Medical Billing and Coding Specialists
According to the BLS, the lowest earners for medical billing and coding specialists and related professions earned about $35,090 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $77,813 annually.
As mentioned previously, the median salary for medical billing and coding specialists in the United States in 2023 was $48,776.
Annual Salary Range For Medical Billing and Coding Specialists In 2023
Hourly Salary for Medical Billing and Coding Specialists
The BLS also breaks down compensation for medical billing and coding specialists by hourly salary, and the median average hourly pay for medical billing and coding specialists in 2023 was $23. Lowest hourly earners took home $17 while the highest reported hourly salaries for medical billing and coding specialists was $37.
Hourly Salary Range For Medical Billing and Coding Specialists In 2023
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Advertised Compensation for Medical Billing and Coding Specialists
Data from the BLS is one way to dig into compensation for medical billing and coding specialists, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for medical billing and coding specialists.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Medical Billing and Coding Specialists
Advertised Annual Salary
During a review of 69,484 job postings related to medical billing and coding specialists, advertised salary was included in 31,739 of them, which was 46%. Based on those postings, the median advertised salary for medical billing and coding specialists was $46,720 per year.
Hourly Salary from Job Postings for Medical Billing and Coding Specialists
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for medical billing and coding specialists. Based on 34% of postings with advertised compensation, the median hourly salary for open positions for medical billing and coding specialists in the United States is about $22.
Salary Trend for Medical Billing and Coding Specialists
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for medical billing and coding specialists. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for medical billing and coding specialists dating back to September 2020, advertised salaries for medical billing and coding specialists have increased 28%.
Advertised Wage Trend For Medical Billing and Coding Specialists
What's the Job Growth for Medical Billing and Coding Specialists?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for medical billing and coding specialists over the next 10 years.
According to the data obtained through Lightcast,™ there were 189,659 jobs for medical billing and coding specialists in the United States in 2023. By 2033, it is expected that about 24,667 jobs will be added. That's a 13% increase over the next 10-year period.
Employment Projections For Medical Billing and Coding Specialists
Additional Links
Ready to dig deeper into career information about medical billing and coding specialists? Visit our other pages focused on salary and education for medical billing and coding specialists.
What do medical billing and coding specialists do?
Medical Billing and Coding Specialists: How do you become one?
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