According to the U.S. Bureau of Labor Statistics, the demand for medical record technicians will increase by 21 percent between 2010 and 2020. The BLS reported that there were 179,500 medical billing and coding technicians working in the United States in 2010, with 37,700 more needed in the coming decade. The aging population and greater demand for medical and health related procedures will continue to drive this job market growth. The growing demand for healthcare professionals to cope with this increase will directly equate to the need for more medical record technicians in order to organize and manage the data related to the care provided.
In 2011, the U.S. Bureau of Labor Statistics reported that the median pay for medical billing and coding professionals was $17.27 per hour or $35,920 per year. The top 10% of workers in this field earned an average of $55,170 while the bottom 10% earned a mean of $21,680. The top five paying states for medical billing and coding professionals included New Jersey; offering $51,850 per year on average, with the District of Columbia next with an annual mean pay of $44,620. The top three highest paying industries were Scientific Research and Development Services – paying $45,720 per year (employing approximately 700), Insurance Carriers – paying $44,110 per year (employing approximately 1000) and Management Scientific and Technical Consulting Services – paying $42,950 per year (employing over 3000).
The industries employing the largest number of medical billing and coding professionals were General Medical and Surgical Hospitals – paying $37,960 per year (employing nearly 70,000), Offices of Physicians – paying $30,120 per year (employing 41,000), and Nursing Care Facilities – paying $33,880 per year (employing nearly 14,000).
Some registered health and information technicians belong to a professional body related to their area of specialty. For example, technicians who receive the Certified Coding Specialist Certification (CCS) can earn an average salary of $14-$22 per hour or $29,120-$45,760 a year, while those professionals who belong to the American Health Information Management Association earn between $26,890 and $35,900 annually.
Further reading on Medical Billing and Coding: