Wages continue to rise and opportunities to expand for certified medical coders, with the greatest rewards going to those who invest the most in their education and professional development, according to the 2011 AAPC Salary Survey.

Survey respondents holding the certified professional coder (CPC) credential reported average earnings of approximately $46,800 (an improvement of $1,400 over the 2010 results), and more than half of all respondents reported earnings of $40,000 or greater. Respondents continue to enjoy benefits that are becoming less common in other work sectors. Over 90 percent of respondents have health insurance and paid vacations, and 89.6 percent also earn paid holidays. Over 80 percent have dental insurance, paid sick time, and enrollment in retirement plans.

The latest survey garnered nearly 12,000 responses. Of those, almost 80 percent were CPCs and roughly a quarter held multiple credentials.

Respondents with the most education typically command the highest salaries. For example, those with a bachelor's degree out-earn those with only a high school diploma by an average $10,000, per year ($41,802 vs. $51,825). Salary survey participants were better educated than the general U.S. population. Nearly nine in 10 respondents had at least some college (vs. 55 percent among all Americans), and more than half had either taken technical training or have earned a college degree.

The significance of continuing education and professional certification has increased in each of the past several years; 55 percent of respondents (up from 52 percent last year) said that certification, such as a CPC, was a requirement of their employment. Individuals with advanced certifications earned more, on average. For example, those holding both a CPC and CPC-H reported earnings of greater than $54,700 annually (an increase of nearly $4,000 since 2010). Respondents with a CPC-I did even better, pulling in over $76,000 per year (up over $6,000 from last year). As proof that employers value training, more than 40 percent of respondents report receiving paid continuing education and/or tuition reimbursement.

Experience also pays: More than half of respondents with 20 or more years' of experience earned in excess of $50,000 per year, vs. 14 percent for those with 5 or fewer years' experience earned as much. Career longevity was evident among survey respondents, of whom 51.6 percent had 10 or more years' experience in their fields.

Survey results nevertheless reveal an influx of new coders, with more than a third of respondents having 5 or fewer years' experience. While unemployment in the U.S. has been 10 percent or greater for much of the past year, the number was lower (8.7 percent) among survey respondents. Most (75 percent) of those looking for work said they were new to coding/billing/auditing/compliance, and were trying to get their first job. Among those respondents who started a new job in the past 12 months, the most recommended ways to find employment were "networking" and the use of online resources, such as AAPC jobs board (http://www.aapc.com/medical-coding-jobs/), which posts hundreds of positions nationwide.

Certified Coders Show Bottom Line Results
In respondents' estimation, employers who hire skilled professional coders are making a wise investment.

Survey participants were asked to estimate how much they saved their practices or facilities annually through better documentation, more accurate coding or improved billing procedures. Among all respondents, approximately half estimated they had saved their practices or facilities $10,000-$50,000 in the previous year. Fully one-third said they believed they had saved $50,000 or more; among those earning $50,000 or more, greater than 90 percent felt they saved their practices or facilities $50,000 or more annually.

With ever-greater emphasis on compliance, the integration of the electronic medical record, and the upcoming implementation of ICD-10 (to name a few challenges that health care faces in the coming years), professional coders have the opportunity not only to contribute to the financial success of a practice or facility, but also to explore a greater range of career options. For example, although most survey respondents (42.4 percent) said that coding and billing was their long-term career goal, just over 20 percent were looking forward to a career in auditing, 12.3 percent expressed a desire to be practice managers, and 9.5 percent cited a career in compliance as their goal.

  G. John Verhovshek is managing editor at AAPC.