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Results of the 2004 Academy Salary Survey are in: coding consultants and speakers earn among the highest salaries in the coding profession. A coding credential is a given to rank high on the earnings scale, but ascending the ladder also takes formal education, experience and that subjective charisma of presence. Think you can make the grade? If so, ask yourself if your resume is ready for the commitment before rushing to the printer for embossed consultant-for-hire cards to distribute among physicians offices and inpatient or outpatient facilities. Terry Fletcher, CPC, CCS-P, CCS, CMC, both a consultant and a speaker, holds a bachelor’s degree and is working toward a master’s degree. She has devoted 21 years to the industry, including the past seven years on her own. The four credentials no doubt add muscle to her credibility and continued business, yet she shudders at the newly credentialed coder who plans to quit a day job to launch a consultant career despite the lack of hands-on experience or advanced education. Reputation is paramount, she said, and a solid reputation can take years to build. A credential is a very good place to begin a wellrespected career in one of the fastest growing health care fields and to build a career in field that offers several options, according to the results of the Ac a d e m y Survey. Nearly 85 percent of those responding to the survey hold at least one credential, and more than 75 percent of the respondents with credentials spent less than three months to find a job in their profession.
Job choices spread across 16 coding-related fields, with an average $41,000 in earnings between the highest paid fields (consulting and presenting) and the hands-on coders based in physician offices or facilities. Practice size and the part of the country where you work both influence the rate of pay for office and facility coders, and these two categories show the greatest discrepancies in pay between certified and noncertified coders. An example from the high end of practice size is the coder who works for a practice employing from 11 to 20 health care providers. The certified coder earns an average annual salary of $37,598, while a noncertified coder from the same size practice brings home $29,645. REGION WITH NUMBER OF RESPONDENTS
West Mountain
Washington, Oregon, California, Nevada, Hawaii, Alaska Idaho, Utah, Arizona, Montana, Wyoming, Colorado, New Mexico
North Central North Dakota, South Dakota, Nebraska, Minnesota, Iowa Central Gulf Great Lakes Northeast Kansas, Oklahoma, Missouri, Arkansas, Kentucky, Tennessee Texas, Louisiana, Mississippi, Georgia Wisconsin, Illinois, Michigan, Indiana, Ohio Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Rhode Island, New York, Pennsylvania, New Jersey Southeast West Virginia, Delaware, Maryland, North Carolina, South Carolina, Florida
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On the regional level, certified coders in the West earn $42,543 compared to the $30,257 noncertified coders bring in. The average difference in pay based on practice size and region, however, is closer to $2,000 to $3,000 between certified and noncertified coders.* New to the survey this year were questions regarding office setting and the process used in assigning codes.
According to the survey, 1036 our of the 1226 respondants said that certification is a requirement for employment.
SALARY BY REGION
According to findings, a clear majority of coders work outside of the home. Despite the dangling carrot of coding from home, only 31 coders claimed to do so. Less experience weighed in favor of the coders at home – 21 with up to three years experience, compared to 10 boasting more than three years experience in the field before moving home. While the survey did not allow space for additional comment, the work at home option may be a recent phenomenon due to technology advances that can accommodate privacy and security concerns associated with the patient’s medical record. Electronic coding systems and public use files for diagnostic and Level II HCPCS codes fall behind the standard books when it SALARY BY EDUCATION
Salary By Title Claim Reviewer Facility Based Physician Based Consultant Specialist Supervisor Reimbersment Mng Compliance Officer Compliance Audit Specialist Educator Insurance Manager Medical Records Supervisor Office Manager Physician Speaker
$33,459.42 $32,566.45 $32,100.01 $54,804.12 $34,288.28 $35,588.00 $44,030.78 $ 47,309.66 $42,334.79 $ 45,561.82 $35,472.75 $35,588.00 $40,869.81 $36,000.00 $55,000.00
# Responded 20 83 234 32 220 10 96 12 69 17 25 10 96 2 1
SALARY BY EXPERIENCE
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comes to applying codes, according to survey results. Coders rely on the ICD-9-CM, CPT‚ and HCPCS manuals and their companies spend nearly $2,000 on average to keep their employees in current codes. Physician office coders tend to use coding manuals in tandem with superbills. No matter where you work or plan to work, the coding profession continues to offer positive employment projections. Statistics of the U.S. Department of Labor point out very good job prospects for medical records and health information technicians, particularly in offices of physicians. In 2002, the profession provided about 147,000 jobs. Thirty-seven percent of all jobs were in hospitals and the rest were in offices of physicians, nursing care facilities, outpatient care centers, and home health care services. Other employers included insurance companies and public health departments. Academy survey numbers contrasted sharply to U.S. Labor Department figures, which show median annual earnings of $23,890 in 2002. According to the federal occupational guide, the middle 50 percent earned between $19,550 and $30,600, and the lowest 10 percent earned less than $16,460. The highest 10 percent earned more than $38,640. The Department of Labor uses state employment service offices to classify job openings and pay; the Academy relies on survey respondents and this group represents a majority of direct applicants, rather than an indirect hire through employment agencies. None of the traditional hiring methods apply to consultants; neither do the calculation of benefits nor pay based on 40-hour weeks. Consultant Robin Linker, CPC, CPC-H, regularly works a 60 hour per week schedule, and estimates at least a nine year stretch since she last worked the standard 40 hours. Weekends are never free, and holidays and sick days mean money out of her pocket.
Linker is often up before the sun for days that run easily past the Tonight Show. What about the reportedly high income and opportunity for world travel to exotic places? “This is not the glamour career you might expect,” Linker said. Consultants work hard for every penny of their pay. They seldom see more than the inside of professional buildings when working away from home and the “away” part is more often the norm than at home in the calendar for the successful consultant. Fletcher books more frequent flier miles in a month than most business travelers do in year, and reserves two months – July and August – for working out of her home office in California. Her business thrives on the travel demanded by speaking and teaching engagements, seminars and contracts for consulting and auditing. Linker calls the time commitment the “sacrifice for her love of and devotion to” the coding profession. There is one more hitch to consider, according to the consultants, and it is the hitch that should ultimately make the choice for you. Money and any perceived glamour are not the end-all, said Fletcher. For Linker the choice was evident. “Consulting and helping others is my heart mission, and still is,” said Linker. “The best choices come from within.” * Note: Education and experience are not factored into either category, and none of the salaries cited reflect benefit packages, such as health insurance and education. ■
TERRY’S TIP FOR CONSULTANTS
1. A successful consultant usually has to travel: so consider your family and home commitments before deciding. 2. Remember to foster existing relationships; repeat business is where you will see your value grow from a salary perspective. 3. Try to be competitive in pricing your services; too much or too little can reflect your worth or greed and also harm your fellow colleagues in the process. 4. Become involved with your professional associations such as the American Academy of Professional Coders. Associations help in keeping you current and educated. The networking is invaluable.
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