Those in the healthcare accounting field help health-based organizations such as physicians’ offices and hospitals collect, organize, and track their financial data. These professionals also check this data to ensure that is correct, providing financial reports when necessary.
If you’re interested in a healthcare accounting career, you may be wondering what someone in this type of role can earn. Here we provide an in-depth look at healthcare accounting wage information, including a state-by-state breakdown and a list of factors that can affect pay in the healthcare accounting field.
Healthcare Accounting Wages (Annually, Hourly, and Monthly)
Although the Bureau of Labor Statistics (BLS) cannot predict actual pay, it does report that, in May 2021, the national median annual wage for individuals in the healthcare accounting field was $45,560 per year, or $21.90 per hour.1 As the median, this means that half of those in the healthcare accounting field nationally made less than this amount, and half earned more. If working full-time, which would be 40 hours per week, the national median monthly pay would be around $3,796. If working part-time, annual and monthly income would be less.
The BLS adds that the lowest 10% of earners in this field nationally (the lowest decile) had a median annual wage under $29,120 in May 2021 or $14 per hour.1 UMA graduates in the 2021-2022 cohort of its Healthcare Accounting degree program reported to UMA that they earned a median hourly wage that is approximately at or slightly higher than the BLS’s lowest decile.2
Healthcare Accounting Wages by State
Wages in the healthcare accounting field can vary based on the state in which you work. Here is a state-by-state breakdown of the mean (average) annual wage in the field as of May 2021:3
|State||Mean Annual Wages|
Factors That Can Impact Healthcare Accounting Pay
Other factors that can impact pay in the healthcare accounting field include:4
- Certifications, licenses, and other professional credentials5
- Level of experience and skill sets
- The tasks assigned
- Workplace performance
Ready to Pursue Training for a Job Involving Healthcare Accounting?
If healthcare accounting is a skill that interests you, UMA offers a Healthcare Accounting associate degree program. This program is offered online and can be completed in 18 months.6
UMA’s Healthcare Accounting associate degree program prepares you to pursue entry-level medical office assistant positions that may involve responsibility for basic financial tasks and covers topics such as accounting principles, an overview of cost and payroll accounting, and ways to optimize the reimbursement cycle.
Some of the courses in this program apply to healthcare specifically. For instance, not only do you learn about medical terminology, but you’ll also increase your knowledge of diagnostic and procedural coding (which helps to determine the expenses that will be reimbursed by insurance), claims processing, and medical law and ethics.
What should you know about UMA as a prospective student? We offer a student-centered experience, which means that we will support you through your academic journey. We also offer numerous job-search-related services, some of which include assisting you with your resume, prepping you for upcoming job interviews, and helping you pursue work in the healthcare field—potentially with one of our employer partners.
Contact us today to learn more about how we can help prepare you for your healthcare career, whether in healthcare accounting or another important area of healthcare.
1 Bureau of Labor Statistics. Occupational Outlook Handbook. Bookkeeping, Accounting, and Auditing Clerks. Pay. https://www.bls.gov/ooh/office-and-administrative-support/bookkeeping-accounting-and-auditing-clerks.htm#tab-5
2 UMA’s 2021-2022 graduate earnings estimate is based on wage information obtained for UMA’s graduates from the cohort. Earnings information was typically obtained by a self-report from the graduate, and occasionally from the graduate’s employer or other sources.
3 Bureau of Labor Statistics. Occupational Employment and Wage Statistics. Occupational Employment and Wage Estimates. May 2021. https://www.bls.gov/oes/current/oessrcst.htm
4 Bureau of Labor Statistics. Same Occupation, Different Pay: How Wages. Vary. https://www.bls.gov/careeroutlook/2015/article/wage-differences.htm
5 UMA’s Healthcare Accounting Program does not qualify or prepare students to sit for certification or licensure examinations.
6 Completion time can vary depending on individual student.