Medical Billing and Coding Specialist Salary in Richmond, IN: $27,923 (2026)
Quick Answer:A full-time medical billing and coding specialist in Richmond, IN earns a median $27,923/year (≈ $13.42/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-2072). Once you factor in Richmond's price level (9% below national, BEA RPP 91.3), that paycheck buys what $30,584 would nationally. Nominal pay sits 2.7% below the Indiana state average.
Based on BLS state-level estimates · View source
In 2026, the projected median annual salary for a medical billing and coding specialist in Richmond, Indiana, is $27,923. This figure reflects a competitive landscape influenced by the ability to work remotely, expanding the geographical bounds of salary comparisons. The salary range spans from $19,812 at the lower end (10th percentile) to $42,159 for the highest earners (90th percentile). Local estimates derived from BLS state-level data, coupled with adjustments for regional price parity, showcase how Richmond's market compares to national trends, where the median salary stands at $30,349. The current salary data indicates that the Richmond market is approximately 7.99% lower than the national average, a trend worth considering for professionals entering the field.
About the Richmond Market
Salary estimated from Indiana average ($46,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $19,812 | $9.53 |
| Lower Range (P25) | $24,936 | $11.99 |
| Median (P50)(typical) | $27,923 | $13.42 |
| Upper Range (P75) | $34,480 | $16.58 |
| Top Earners (P90) | $42,159 | $20.27 |
Median Salary Position
7.99% below the national average
2026 Salary Percentile Distribution in Richmond
In Richmond, IN, the medical billing and coding specialist salary spread from the 10th to 90th percentile is $22,347 (2026 est.). At $27,923, the local median is 7.99% below the national median of $30,349.
Salary Calculator
At 40 hours/week in Richmond: You'd be in the lower-middle range
How Richmond Medical Billing and Coding Specialist Pay Compares
Richmond median: $27,923/year (2026)
| Compared To | Median Salary | Richmond Pays |
|---|---|---|
| Indiana Average | $28,698 | -2.70% less |
| National Average | $30,349 | -7.99% less |
Medical Billing and Coding Specialists in Richmond, IN earn a median of $27,923 per year (2026 est.), which is 7.99% lower than the national median of $30,349 and 2.70% below the Indiana state average of $28,698.
Cost-of-Living Adjusted Salary
Richmond has a cost of living 8.70% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Richmond, IN has a cost-of-living index of 91.3 (below the national average of 100). A medical billing and coding specialist earning $27,923 nominally has purchasing power equivalent to $30,584 in an average-cost city — an effective 9.53% boost.
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2021 BLS Actual
$24,899
2025 BLS Actual
$27,290
2026 Current Est.
$27,923
2021–2027 Growth
+14.7%
Salary Trajectory for Medical Billing and Coding Specialists in Richmond (2021–2027)
2021–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.32% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2021 | $24,899 | Actual |
| 2022 | $25,177 | Actual |
| 2023 | $26,031 | Actual |
| 2024 | $40,870 | Actual |
| 2025 | $27,290 | Actual |
| 2026(current) | $27,923 | Estimated |
| 2027 | $28,571 | Projected |
Based on 5 years of BLS OEWS data for the Richmond metropolitan area, the median medical billing and coding specialist salary grew 9.6% from $24,899 (2021) to $27,290 (2025). At a 2.32% compound annual growth rate, salaries are projected to reach $28,571 by 2027 — a total increase of $3,672 (14.75%) from 2021.
Note: Historical values (2021–2025) are actual BLS OEWS figures for the Richmond metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 2.32% CAGR derived from 5-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $19,812 – $24,936 |
| 3-5 years (Mid Career) | $24,936 – $27,923 |
| 5+ years (Experienced) | $27,923 – $34,480 |
| 10+ years (Top Earner) | $34,480 – $42,159 |
MBS salary ranges estimated from BLS percentile data. Individual medical billing and coding specialist compensation varies by employer, certifications, and specialization.
Medical Billing and Coding Specialist Job Market in Richmond
While Richmond employs a modest number of seven medical billing and coding specialists, the cost of living index at 91.3 suggests that salaries may stretch a bit further than in higher-cost regions, subtly impacting take-home purchasing power. In this environment, employers such as physician group practices, hospital inpatient coding departments, and third-party coding companies tend to offer competitive pay, with the potential for bonuses tied to productivity and specialization. The disparity in income between different tiers of expertise often comes down to credential stacking—having multiple certifications like CPC, CCS, or CRC—and the depth of knowledge in high-demand areas like risk adjustment coding. Those looking to maximize their earnings should consider continuous education in ICD-10-CM updates, proficiency in compliance audits, and exploring remote work options, as these strategies could enhance their value in this evolving job market in Richmond, IN.
More salary data for Richmond, IN:
Frequently Asked Questions
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Written by Amina Patel, CPC
Career Analyst
Amina has 10 years of experience in medical billing. She specializes in outpatient coding for multi-specialty practices.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $27,290 for medical billing and coding specialistsin the Richmond metropolitan area. A 2.32% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Richmond is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 2.32%, derived from historical BLS wage trends for medical billing and coding specialists (SOC 29-2072).
Compiled and verified by Amina Patel, CPC, a licensed medical billing and coding specialist with 10+ years of clinical experience. · View source data at BLS.gov