The salary of a medical coding specialist can range anywhere between USD 25,000 to USD 40,000 annually. It may vary, depending on the job location and experience of the candidate.
Medical Administrative Specialist Salary
According to national statistics, the average salary of medical administrative specialist is between USD 20,000 to USD 40,000 annually. There are several factors that affect the salary structure – ranging from job location to experience…
A medical administrative specialist is one of the most important non-medical staff in the healthcare industry. They perform several vital tasks ranging from scheduling appointments to billing patients. The administrative specialist will also interact with insurance companies in matters related to claims. For undertaking all these responsibilities their remuneration averages at around USD 35,000 per year. The prevailing economic conditions have not affected job prospects in this profession as yet. The increase in government spending in the healthcare sector is one of the reasons behind job stability in this sector. The job profile also requires specialized workers who can multitask and handle the different aspects of a medical setting, either a clinic or hospital.
The average salary is quite comparable to other non-medical support staff in the healthcare industry. As the job profile involves taking up key responsibilities the compensation is quite good, taking into consideration the economic crisis. People at the entry-level in this profession earn salaries that hover around the USD 20,000 mark per year. As the number of years of experience increases the salary also increases. Like most jobs in the industry having experience will assure you more salary than no-experience counterparts. People with experience in this field are known to earn salaries upwards of USD 50,000 per year.
Medical administrative specialists working with financially sound organizations in high population urban settings will make more money. Individuals working with clinics having less turnover will expectedly earn lesser wages. Reports indicate that the average salary in California touches the USD 55,000 per year mark and for New York it slightly higher at USD 57,000. In states like Texas, the pay packet becomes a little lighter with average salary reported at USD 44,000 per year. In places like Alabama where the cost of living is much lower the salary is indicated at around the USD 40,000 mark.
The future prospects in this field are quite good according to prediction by analysts, making this a highly competitive job profile. People with a Master’s degree in hospital administration will be preferred by employers. The wages for qualified individuals will be definitely higher than one without the higher educational degree. Qualified medical administrative specialists will earn around USD 45,000 annually whereas their counterparts without a Master’s degree will make less. Some statistics reveal that individuals working out of small clinics earn around USD 24,000 per year.
Education and Job-Profile
There are several degree level programs in the medical industry with specialization in subjects like epidemiology and finance management. The average duration of the course is 2 years; on completion you will receive a Master’s degree. The program course work will have subjects that teach billing services, medical terminology, anatomy, etc. People with personal qualities like patience and keen listening skills will do well in this profession.
The job description of the medical administrative specialist can be explained in one word ‘multitask’. They perform a plethora of tasks mostly dependent on the organizational requirements. Scheduling appointments, greeting patients and taking their medical history along with other pertaining details, is a part of their job. Transcribing doctor’s reports and filing claims with the insurance company and sometimes following up on the claim also needs to be undertaken. They are also required to be proficient with latest medical and finance software, as they will be required to input information for billing and claims.
Analysts have predicted that the trend of people receiving larger paychecks is going to continue at least through 2015. If you see the national average of medical administrative salaries, you will see the number stands at around the USD 40,000 mark. People with personal skills like patience and good communication skills will excel in this profession.