Recovery Auditor Salary

Recovery Auditor Salary: A Comprehensive Guide

Hello Arkana friends! As the healthcare industry continues to grow, so do the demands for cost containment practices. This has led to the rise in demand for Recovery Auditors or also known as Medicare auditors. Are you curious about the Recovery Auditor salary? In this article, we’ll provide you with a comprehensive guide on the topic.

What is a Recovery Auditor?

Before we dive into the salary of a Recovery Auditor, let’s define who they are. Recovery Auditors or Medicare auditors are healthcare professionals who specialize in identifying overpayments and underpayments in healthcare claims. They aim to reduce Medicare improper payments, which can increase the overall healthcare quality and save taxpayers’ money.

How Much Does a Recovery Auditor Make?

The salary of a Recovery Auditor varies depending on their experience, location, and employer. On average, a Recovery Auditor in the United States earns around $65,000 annually. However, this can range anywhere from $40,000 to $90,000 a year.

Factors Affecting Recovery Auditor Salary

To better understand why some Recovery Auditors earn higher salaries than others, here are some factors that can affect their salaries:

Experience

As with most healthcare professions, the experience of a Recovery Auditor can directly impact their salary. Entry-level auditors may start off earning around $40,000 annually, while those with extensive experience can earn up to $90,000 a year.

Certification

Having a certification in auditing, such as a Certified Professional Medical Auditor (CPMA) certification, can significantly impact a Recovery Auditor’s salary. Employers typically prefer auditors who hold one or more certifications.

Location

The location where a Recovery Auditor works also plays a role in their salary. For example, auditors in major cities such as New York or Los Angeles earn more than those working in smaller cities or rural areas.

Employer

Lastly, the employer can also affect an auditor’s salary. Hospitals and healthcare systems typically pay more than government agencies or insurance companies.

Responsibilities of a Recovery Auditor

In addition to the salary of a Recovery Auditor, it’s also essential to understand their responsibilities. These responsibilities can include:

– Conducting audits of medical records and healthcare claims

– Identifying overpayments and underpayments in claims

– Preparing and submitting audit reports to relevant parties

– Assisting in appeals and denials of healthcare claims

– Educating healthcare providers on proper billing procedures

How to Become a Recovery Auditor

If you’re interested in becoming a Recovery Auditor, here are some steps to consider:

1. Obtain Education and Training

To become a Recovery Auditor, you need a bachelor’s degree in healthcare administration, nursing, or a related field. You can also obtain training and education in medical billing and coding.

2. Gain Experience

To increase your chances of landing a job as a Recovery Auditor, gain experience in the healthcare industry. This can include working in medical billing or coding or auditing.

3. Obtain Certification

To become a Recovery Auditor, you must obtain a certification in auditing. Some of the most popular certifications include Certified Professional Medical Auditor (CPMA) and Certified Internal Auditor (CIA).

4. Apply for Jobs

Once you have the necessary education, training, and certification, you can start applying for Recovery Auditor jobs at hospitals, healthcare systems, government agencies, and insurance companies.

Conclusion

In conclusion, a career as a Recovery Auditor can be financially rewarding. However, it requires extensive education, training, and certification. If you’re passionate about identifying overpayments and underpayments in healthcare claims, this career path might be the right fit for you.

Thank you for reading, and see you again in another interesting article update!