What Are the Job and Salary Prospects for Medical Coders?
The field of medical coding is growing rapidly along with the rest of the health-care industry. The U.S. Bureau of Labor Statistics predicts that employment of health information and medical records technicians will grow faster than average through 2016, increasing by 18 percent. They attribute the increase in potential medical coding jobs to rapid growth in the amount of tests and procedures being performed that then have to be thoroughly investigated by the insurance industry, courts, and other regulators. Additionally, the increase in the amount of paperwork required for managed care and the constantly fluctuating nature of government regulations will mean a greater demand in medical coding technicians. The Labor Statistics Bureau also forecasts median earnings for medical coding technicians to be around $29,000, with the highest 10 percent of earners bringing in $45,000 annually.
Similarly, a 2008 survey by the American Academy of Professional Coders found that the average wage for credentialed coders was around $43,000, while noncredentialed coders earned an average of $36,500 a year. The projected rates of raises showed that coders could earn around $23 an hour after 15 years in the field.
Medical coders work in a variety of locations, as well. An online degree in medical coding might lead you to work in a hospital, doctor’s office, clinic, an outpatient care center, a group or family practice, or even a nursing home. Additionally, there are locations and vocations where medical coders might be in high demand that might not seem obvious at first. For instance, insurance agencies, law firms, consulting firms, and medical coding and billing companies are all organizations that have made use of skilled medical coders.
It’s important to note, however, that although medical coding is a key role in the health and treatment fields, there is little to no interaction with patients. The coding process is a back-end procedure, a necessary way to help streamline the work flow but not one that will put you in touch with people seeking treatment. So if you want a career in the medical arena but prefer high patient interaction, medical coding might not be a good fit for you. However, if you’re a detail-oriented person who thrives on getting a job done right and who doesn’t want to deal with patients, an online degree in medical coding could be perfect for your educational and career needs.
