The medical insurance billing process is complex and will only become more so as new health care laws take effect. Insurance medical billing managers oversee the medical billing process in health care facilities such as hospitals, nursing homes and physicians' offices, ensuring that medical facilities, doctors and insurance companies get paid. If you want to work in this field, you'll need at least an associate's degree in medical billing and experience. You can expect to earn a salary averaging between $80,000 and $90,000 annually.
Salary and Qualifications
The average annual salary for an insurance medical billing manager was $84,000 as of 2013, according to the job site Indeed. The minimum educational requirement for this job is typically an associate's degree in medical billing or health information technology. Employers may also prefer that you have at least five years of experience in medical billing and three years supervisory experience. Other essential requirements you'll need are an attention to detail and analytical, communication, problem-solving and computer skills.
Average salaries for insurance medical billing managers varied significantly in most U.S. regions in 2013, according to Indeed. In the South region, they earned the lowest salaries of $71,000 in Louisiana and the highest of $99,000 in Washington, D.C. Those in the West made $54,000 to $90,000 per year in Hawaii and California, respectively. If you were an insurance medical billing manager in Maine or New York, you'd earn an average of $72,000 or $101,000, respectively, which were the lowest and highest earnings in the Northeast. In the Midwest, you'd make the least in Nebraska or South Dakota or the most in Illinois at $62,000 or $92,000, respectively.
Insurance medical billing managers earn more in California, New York and Washington, D.C., because it's typically more expensive to live in those states and district. If you earned $85,000 as an insurance medical billing manager in Des Moines, you'd have to make $124,301 in San Diego to maintain your living standard, according to the CNN "Cost of Money" calculator. You'd have to earn $136,239 in Washington, D.C., to enjoy the same living standard as in Des Moines, or approximately 60 percent more. Employers in San Diego and Washington, D.C., may not pay you that much more, but you need to consider your living standard when choosing jobs in more expensive cities. A larger hospital may also pay more than a smaller one, as it likely has a higher revenue base from which to pay your higher salary.
The U.S. Bureau of Labor Statistics doesn't report job outlook information for insurance medical billing managers. It does project a 21 percent increase in employment for medical records and health information technicians through 2020 -- an above-average growth rate. An aging population and increases in medical procedures may increase jobs for medical billers, coders and insurance medical billing managers. These managers often oversee the work of billers and coders, which is why you may find more available jobs in this field.