2011 Medical Coding Salary Survey Results Are In

Last month, the American Academy of Professional Coders (AAPC) announced the 2011 results for its annual salary survey of health care professionals on the business side of medicine. Participants included medical coders, medical billers, auditors, and physician practice managers.

Some of the survey’s findings include:

    1. The average salary for a Certified Professional Coder (CPC) was approximately $46,800.
    2. Approximately 62% of respondents said they work primarily in physician-based coding; 10 percent are hospital coders; and 16 percent said they do both types of coding.
    3. Respondents work in every specialty, with the greatest number in family practice (10.3%) and internal medicine (5.7%). Others include emergency medicine (5.2%), general surgery (4.5%), and obstetrics/gynecology (4.3%)—rounding out the top five specialties.
    4. The average wage in 2011 for a Certified Professional Coder (CPC®) was approximately $46,800 (up $1,400 from last year)

      Click here to see all of the 2011 Medical Coding Salary Survey’s results.

      Recap of 14th Annual Private Duty Conference

      Last week, PRN Funding exhibited at Decision Health’s 14th Annual Private Duty Conference at Caesar’s Palace in Las Vegas, Nevada.

      Conference attendees had the opportunity to speak with the company’s President, Phil Cohen, and Marketing Manager, Nikki Flores, during exhibit hours to learn how they can turn their Medicaid receivables into cash immediately through home care invoice factoring.

      The Private Duty Conference attendees were also encouraged to enter PRN Funding’s drawing to win an Amazon Kindle Fire. Dee H. of Always There In-Home Care was the lucky winner.

      Congrats to the Amazon Kindle Fire winner - Dee H. of Always There In-Home Care
      Congrats to the Amazon Kindle Fire winner - Dee H. of Always There In-Home Care

      Top Three Common Mistakes to Avoid when Choosing a Nurse Staffing Payroll Factoring Company

      Most entrepreneurs who decide to open a nurse staffing agency are well-versed in the industry, and they have the passion to succeed.  However, when it comes to accounting, and in particular managing cash flow, temporary nurse staffing agency owners often stumble. Entrepreneurs who have a hard time balancing payments coming in with financial obligations going out (i.e. payroll, payroll taxes) should take advantage of working with a payroll factor.

      Now there are hundreds of payroll factoring companies out there competing for your agency’s business, each with their own set of claims and promises to help you achieve your financial goals. With so many different choices out there, how could you possibly narrow down the playing field? Take it from me-It’s much easier to narrow down the selection if you avoid some of the most common mistakes that business owners make when choosing a payroll factor.

      Watch the video below learn about the Top Three Common Mistakes to Avoid When Choosing a Nurse Staffing Payroll Factoring Company:

      Click here to read about the three most common mistakes to avoid when choosing a nurse staffing payroll factor along with a few straightforward tips to help you find a payroll factoring company that best suits your needs.

      What NOT to Do When Picking a Healthcare Staffing Payroll Factoring Firm

      Most entrepreneurs who decide to open a healthcare staffing agency know their industry well, and they have a drive to succeed. However, when it comes to managing cash flow, some agency owners often come up short. Luckily, entrepreneurs who have a hard time managing payments coming in and payments going out (i.e. payroll, payroll taxes) could really benefit from using with a healthcare staffing payroll factor.

      Now there are hundreds of healthcare staffing payroll financing companies out there competing for your staffing agency’s business, each with their own set of claims and promises to help your company become financially sound. With so many different choices out there, what’s the best way to narrow down the playing field? Start with what NOT to do first…

      Click here to find out What NOT to Do When Picking a Healthcare Staffing Payroll Factoring Firm.

      Small Business Still Struggle to Pay Bills on Time

      The Wall Street Journal ran a short article last week discussing the most recent poll results from Experian’s Business Benchmark Report. The main conclusion of the report was that small business owners are still struggling to manage cash flow, so they’re continuing to pay their bills late.

      Specifically, the report said the following:

      • Businesses with between one and four employees were an average of 8.2 days late paying their bills – a nearly 15% increase from a year ago.
      • Firms with five to nine employees were 7.6 days late, an increase of about 16%.
      • The average for businesses of all sizes was 7.1 days.

      Click here to read the entire Wall Street Journal Article: Paying Bills Promptly Still a Struggle.

      PRN Funding to Give Away an Amazon Kindle Fire at Decision Health’s Annual Private Duty Conference

      Las Vegas, NV-PRN Funding, LLC has been invited to exhibit at Decision Health’s 14th Annual Private Duty National Conference & Expo at the Caesars Palace Las Vegas Hotel & Casino November 2-4.

      Conference attendees will have the opportunity to speak with the company’s President, Phil Cohen, and Marketing Manager, Nikki Flores, during exhibit hours. Non-medical home care agencies are invited to stop by booth #103 to learn how they can turn their Medicaid receivables into cash immediately through home care invoice factoring.

      In addition to learning about invoice funding options, all attendees are invited to stop by booth #103 and enter PRN Funding’s drawing to win an Amazon Kindle Fire. The winner will be announced at the Networking Reception on Thursday, November 3rd from 5:15 – 6:15 p.m. Winners must be present at the reception to claim their prize.

      With years of experience in healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty and home care industries. PRN Funding offers financial resources to these companies by purchasing their accounts receivable–a process known as ‘factoring’, which provides the cash needed to sustain and grow a healthcare business.

      PRN Funding Entends Credit to Teleradiology Vendor

      Known throughout the factoring industry as a healthcare funder, PRN Funding recently added a brand new vertical to it’s healthcare factoring repertoire: Teleradiology.

      Helping to improve access to medical services, teleradiology is the ability to send images from one location (i.e. an imaging center, clinic or physician’s office) to another location for evaluation.

      Specifically, PRN Funding extended a $500,000 credit line to this growing teleradiology client based in the Greater Philadelphia area.

      Looking Back on NAHC’s 2011 Conference

      Last week, PRN Funding had the opportunity to exhibit at the National Association for Home Care and Hospice’s 2011 Conference for the first time, and we have a lot of mixed feelings and opinions about it.

      From an exhibitor’s point of view, the show was slightly disappointing because out of a projected 1500 conference attendees, we only got to meet 350 of them!

      However, those who stopped by had the opportunity to learn more about PRN Funding’s home care factoring services, and they were able to enter PRN’s iPad2 giveaway.

      Special congrats goes to Cheryl from Apple Home Health Care who was the lucky winner!

      Cheryl

      Now we’re gearing up for Decision Health’s 14th Annual Private Duty Conference at the Bellagio Casino in Las Vegas next month!

      Question: What did you think about the 2011 NAHC Conference?

      How Private Duty Home Care Agencies Can Benefit from Invoice Funding

      Check out this video to see what PRN Funding’s private duty care invoice funding program offers:


      1. More Readily Available Cash: Funds are electronically deposited directly into your bank account within hours of verification that  private duty services have been performed.
      2. Flexible Private Duty Invoice Funding Choices: PRN Funding offers all of our private duty nursing clients the freedom to factor when they want, how they want, whom they want and for however long they want.
      3. Private Duty Industry Expertise: PRN Funding has spent the better part of a decade in the healthcare services industry, and we have designed our private duty account receivable funding program specifically to meet the unique challenges faced by those who provide nursing and companion services in patients’ homes and bill Medicaid or other state-funded agencies for those services.  

      Want to learn more? See our private duty care factoring process to learn how PRN Funding can benefit your business.

      PRN Funding Helps Home Healthcare Agencies Through Factoring

      Do you own a home healthcare agency? Does waiting to be paid by Medicaid affect your ability to meet payroll and pay taxes on a timely basis? Do you have to wait too long to receive payments from a state agency for your non-medical home care services? Are you thinking of starting up a home care agency but you need to secure ongoing funding before doing so?

      If you answered YES to any of the questions above, then PRN Funding’s home care factoring program is the solution to your agency’s funding needs. Through the purchase of your home care accounts receivables–a process known as factoring–your business can grow, without compromising your present obligations to payroll, taxes and vendor invoices.

      Want to learn more? Click here to read about the benefits of home care factoring.

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