2024 Medical Coding and Billing Salary Report by experience
Experience makes a significant difference
Certification and on-the job experience tell employers that you are prepared to handle a variety of responsibilities and situations that may arise, collaborate well with others, and are thriving in the industry.
Experience from certification(s)
The fact that certification is the No. 1 factor influencing medical records specialist incomes is not surprising. After all, professional certification is the litmus test of a job candidate’s value. Nothing provides hiring managers more confidence in a medical coder’s proficiency than passing the Certified Professional Coder (CPC)® exam.
The next best vote of confidence — also the second biggest influence on income — is additional credentials. Consider that in 2023, medical records specialists as a group averaged $62,160, while those with three or more AAPC certifications averaged $76,035 for the year, which is 18.3 percent more.
Work experience pays
Incomes rise about 43% on average from entry-level to late career
In 2023, first-year medical records specialists earned $44,969 for the year, while those with at least 31 years of work experience earned $78,746 — a 42.9 percent difference! Work experience, as an isolated influence on compensation, adds upwards of 43 percent to income over the course of the CPC’s career. The biggest gains occur in the first 15 years.
2023 incomes based on work experience
2023 Salary Survey respondents report a median 13.1 years in the industry. With medical coding experience comes career advancement opportunities into high-paying healthcare business roles, such as practice management, medical auditing, compliance, and clinical documentation improvement specialist.
Years on the Job | Average Income |
|---|---|
0 - 1 | $44,969 |
2 - 4 | $49,307 |
5 - 9 | $57,604 |
10 - 15 | $64,312 |
16 - 20 | $68,768 |
21 - 25 | $73,049 |
26 - 30 | $76,696 |
31+ | $78,746 |