The median salary for medical billing and coding specialists is approximately $14.45 per hour as of December of 2014 based on 786 individuals surveyed according to PayScale.com. The hourly rate ranges from a low of $10.19 to a high of $19.09.
Geographic location is the most important factor determining a medical billing and coding specialist's salary, followed by tenure, according to PayScale.com. Nearly two-thirds report receiving medical coverage while two-fifths have dental coverage. The minimum education needed for this profession is a high school diploma and a Certified Professional Coder designation. Depending on the employer, up to two years of relevant experience may be required.
Years of experience, level of responsibility and type of employer impact the salary of billing and coding specialists. Areas of the country with a high cost of living commonly earn higher wages. The U.S. Bureau of Labor Statistics (BLS) reports expectations of significant growth in employment needs for these professionals between 2012 and 2022. The rapidly U.S. aging population will drive this trend as healthcare services required for older Americans increase.