Medical Billing and Coding Salary in New Mexico
- 1,320 Number of Medical Billing and Coding Employees in New Mexico
- $32,230 Average Medical Billing and Coding Salary in New Mexico
- $47,510 90th Percentile Salary
- $20,360 10th Percentile Salary
Salary Averages in Mountain Region
New Mexico’s medical coding and billing niche demonstrates a positive future economic outlook. Medical billing and coding falls under the Education and Health Services sector; according to the same BLS source, the sector’s employment rates increased from January to June of 2012. This is most likely the result of two factors. First, New Mexico has adopted the Medicaid incentive program, which awards physicians $63,750 to transfer their health records to an electronic database. This incentive is partially intended to offset the costs of medical billers and coders in New Mexico that will need to be hired to make this transfer go smoothly. The result, like with other state Medicaid programs offering electronic medical records incentives, is that medical billers and coders can expect increased job growth in New Mexico in coming years.
Second, data indicates that an aging population will increase demand on the medical industry as a whole, thus increasing demand on the medical records and health information industry. According to the BLS, demand for medical records and health information professionals is expected to increase nationwide by 21% from 2010 to 2020; this projected employment increase is higher than the average job growth expected of other U.S. occupations in that same time frame. And, given that the U.S. Census Bureau reported this year that New Mexico’s senior citizens represent 13.2% of its total population, the state should see the demand the BLS projects.
The average medical biller and coder holds Certified Professional Coder (CPC) certification, and many also have an associate degree. Neither of these are required by every employer, but many employers do require one, the other, or both. Certification can be obtained by the American Academy of Professional Coders (AAPC) once a prospective medical biller and coder meets three conditions. First, they must provide the AAPC with proof that they have either earned 80 hours or more of relevant education and spent one year in the field, or that they have spent two years in the field. Second, they must join or maintain an AAPC membership. Third, students must pass a CPC certification exam, which consists of 150 multiple choice questions. Online programs, whether they be associate degree or exam training programs, will prepare students to pass the CPC exam; some even allow students to take the exam before they’ve completed their training.