Here are some statistics about compensation and various factors involved.
Average compensation:
• The overall average salary in 2012 is $47,970.
• Certified professional coders earn $47,796, up nearly $900 from 2011.
• Certified professional coders in hospital outpatient earn $56,466, up nearly $1,800 from 2011.
• Certified professional coders for payors earn $55,255, up nearly $3,800 from 2011.
• Certified professional medical auditors earn $59,365, up more than $3,200 from 2011.
• Salary by workplace has increased 9.7 percent from 2011 for those in smaller groups or practices.
• Salary at a solo practice was $40,290 in 2010, $41,301 in 2011 and $45,312 in 2012
• Salary in an outpatient hospital was $43,685 in 2010, $43,751 in 2011 and $45,399 in 2012.
Salary by region:
• Salaries in all nine U.S. regions are up from 2008.
• 19 percent work in rural areas, 37 percent work in suburban areas, 44 percent live in urban areas
• The pacific region — which includes California, Washington, Oregon, Alaska and Hawaii — has the highest average salary at $54,980
• The east south central region — which includes Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia and Maryland — has the lowest average salary at $41,709.
Credentials:
• In 2008, 47 percent of employers required job credentials
• In 2012, 54 percent require credentials
Experience:
• Salary increases directly correspond with years of job experience, and this has remained consistent since 2008.
• Professionals with 15 or more years of experience saw the biggest salary increases over the last five years. In 2008, their average pay was $50,000 and in 2012 it’s more than $60,000.
• Beginning salaries have stayed mostly the same, and in 2008, starting salaries were slightly higher than in 2012. Starting salaries were lowest in 2011.
Education:
• Those with an associate degree or some college make an average of 9 percent more than those who have not attended college.
• Bachelor’s degrees make 21 percent more than those with an associate degree or some college.
• Master’s degrees and greater make 46 percent more than those who have a bachelor’s degree.
• Of all professionals surveyed, 53 percent have some college or an associate degree; 18 percent have bachelor’s degrees; 12 percent went to technical school; 11 percent are high school graduates; 6 percent have a master’s degree or above.
Benefits:
• More than 50 percent of respondents work an average of 31 to 40 hours per week.
• 40 percent work more than 40 hours per week
• Employer-sponsored perks appear little changed for four years.
Workplace:
• 22.4 percent of professionals worked for small group or solo practices in 2010, compared to 19 percent in 2012
• 14.2 percent worked for medium group practices in 2010, compared to 12.1 percent in 2012
• 20.2 percent worked for large group practices, compared to 20.1 percent in 2012
• 11 percent worked for hospital outpatient centers in 2010, compared to 11.6 percent in 2012
• 7.6 percent worked for hospital inpatient in 2010, compared to 8 percent in 2012
Unemployment:
• For certified professional coders with AHIMA credentials, unemployment is up from 1.62 percent in 2011 to 5.08 percent in 2012.
• For CPCs with AAPC credentials, unemployment is up from 2.71 percent in 2011 to 3.1 percent in 2012.
• For all coding apprentices who are breaking into the field, unemployment is down from 25.45 percent in 2011 to 23.41 percent in 2012.
More Articles on Coding, Billing and Collections:
EHRs May Cause Medicare, Insurance Bills to Increase
Colonoscopy Coding Inconsistencies Create Confusion
10 Ways to Get Paid Appropriately From Commercial Payors in an ASC
