Last Updated on December 10, 2020
The purpose of this article is to provide those looking to work as medical billers and coders in Colorado with a guide to find the best medical billing and coding jobs in Colorado. It also explains in detail the jobs descriptions, responsibilities, salary structure and other important information.
According to the Bureau of Labor Statistics (BLS), employment in medical records and health information is expected to increase by 13% by 2026, nearly double the expected growth rate of 7% for all professions. This impressive growth rate is just one of the many reasons to become a medical biller or coder. Dependence on technology – along with an aging population – means increased use of electronic health records (EHRs). It will require more technicians to manage and organize this information.
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Medical Billing and Coding Jobs in Colorado: Jobs Descriptions and Key Responsibilities
Completing a medical billing and coding program prepares you for a vital role in healthcare. Compared to many other career fields, medical billing and coding careers are very attractive, with growing employment opportunities in a variety of settings, including hospitals, insurance and pharmaceutical companies, healthcare establishments, and skilled nursing facilities.
While they are often combined, there are substantial differences in the roles performed by medical billers and medical coders. Depending on the size of the office, these roles may be completed by two separate individuals or one person.
- Medical coders translate the diagnosis and treatment a patient receives into numeric codes based on an official classification system. These codes are used by insurance providers to determine coverage and must adhere to federal regulations.
- Medical billers take the assigned codes and submit claims to insurance providers. Medical billers follow up with both the patient and the insurance provider to ensure accurate billing and timely payments.
The following tables detail the different tasks and career paths of billers and coders.
| Medical Billing | Medical Coding |
| Entering data with proprietary billing software | Communicating with physicians, nurses, and other healthcare professionals to categorize the services a patient has received |
| Submitting claims to insurance companies | Applying CPT, HCPCS, and ICD-10 CM standardized codes to patient records to accurately reflect the services received |
| Following up with patients, healthcare professionals, and insurance providers to make sure claims are paid for | Entering data through Electronic Health Record (EHR) and Electronic Medical Record (EMR) software used in hospitals and physicians’ offices |
| Managing account payments and invoices | Examining operative reports used during surgery to apply procedure codes |
| Investigating rejected or denied claims | Performing medical chart audits when a claim is denied |
| Ensuring that physicians and patients receive reimbursements from insurers | Remaining up-to-date with the latest revisions to coding standards and federal regulations |
| Verifying the accuracy of standard healthcare codes used by medical coders to classify services and products | Examining patient charts and histories to ensure coding accurately reflects a patient’s medical care |
Medical Billing and Coding Jobs in Colorado: Salary Structure
The salary structure for medical billing and coding jobs in the Colorado vary based on individual education level, type of employer, location of residence, certifications, specific job function, and level of experience.
The table below provides detailed data on the average salaries of medical billers and coders by industry, published by the Bureau of Labor Statistics (BLS) under the general category “Medical Records and Health Information Technicians”.
| Top Industries for Medical Records and Health Information Technicians | |
| Industry | Employment |
| Professional, scientific, and technical services | $41,600 |
| Hospitals; state, local, and private | $40,510 |
| Administrative and support services | $38,540 |
| Nursing Care Facilities | $35,910 |
| Offices of physicians | $33,030 |
| Top Paying States for Medical Records and Health Information Technicians | |
| State | Annual Mean Wage |
| New Jersey | $60,000 |
| Alaska | $56,920 |
| California | $48,840 |
| Maryland | $48,730 |
| Colorado | $48,730 |
Tips to Make More Money from Medical Billing and Coding Jobs
Looking to maximize your potential salary? Pay attention to the following factors to see how you can position yourself for a higher salary range for medical bills and coding jobs in Colorado.
- Education: Medical coding and billing salaries differ based on education. Higher degrees typically correspond with higher salaries.
- Certifications: Obtaining one or more coding certifications or coding credentials may make a significant difference as well. Medical coders who specialize as a Certified Professional Medical Auditor, Certified Physician Practice Manager or have another certification could earn more per year.
- Type of employer: Some types of employers also pay more than others. According to the BLS, junior colleges pay $91,900 per year, while insurance carriers pay $53,530 per year. Seeking an employer that offers higher salary ranges can benefit your bottom line.
- Years of experience: Simply building more years of experience can also help increase your income. With an additional year of experience, medical coding salaries can increase.
Best Employers for Medical Billing and Coding
- CoreMedical Group: This staffing agency has received an average employee rating of 4 out of 5 stars on Indeed.com. The agency specializes in connecting healthcare professionals nationwide with permanent, contract, or travel-based work.
- PrideStaff: Pridestaff matches candidates with employers across multiple industries, including customer service, healthcare, and finance. In 2014, this major national recruitment agency earned the Inavero Best of Staffing Diamond Award for achieving the highest client and talent service quality scores for five consecutive years.
- IMS Health/Appature: Appature, a healthcare software company, often recruits client service representatives with medical billing and coding expertise. The company was acquired by IMS Health in 2013 and is one of the largest and most successful firms of its kind.
- Emerus: This Texas-based emergency health services company performs 24/7 inpatient assistance for two hospitals in the Houston area.
- XIFIN: This San Diego-based medical software company provides healthcare organizations with billing and business intelligence services and solutions. They specialize in cloud technology and provide a comprehensive digital consultation forum for its clients.
- Med-Care Diabetic and Medical Supplies: This pharmacy and medical supply retailer operates as a provider for Medicare and Medicaid, necessitating employees who are familiar with the unique billing and coding requirements of these plans.
- Kareo: This California-based medical software company provides over 20,000 healthcare organizations with electronic health record and billing services. They offer cloud-based solutions, ICD-10 transition systems and practice management resources.
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Required Skills for Medical Billing and Coding Jobs in Colorado
- Proficiency with computers and medical billing software
- Knowledge of unfair debt collection practices and insurance guidelines
- Understanding of primary code classifications: ICD-10-CM, ICD-10-PCS, CPT and HCPCS
- Communication skills with patients/healthcare companies
- Basic accounting and bookkeeping practices
How to Get into Medical Billing and Coding: Key Considerations
Most medical and billing jobs require a postsecondary certificate or a two-year associate’s degree to enter the field. A bachelor’s degree in healthcare administration or health information management may qualify you for more career opportunities and management roles in the future.
In addition, many employers prefer to hire staff that have certification or have graduated from an accredited program. Earning one or more certifications can also boost your earning potential.
Two widely recognized organizations that offer certifications are The American Academy of Professional Coders (AAPC) and the American Health Information Management Association (AHIMA).
Medical billing and coding is a fast-growing and highly-rewarding career!