Medical Billing Specialist salary in Iceland

Average Yearly Salary of Medical Billing Specialist in Iceland is approximately 6,811,451 ISK (47,641 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Medical Billing Specialist do?

A medical billing specialist is responsible for managing and processing medical claims and invoices for healthcare services. They ensure accurate coding, documentation, and submission of claims to insurance companies or government programs. These specialists review patient records, verify insurance coverage, and calculate charges based on the services provided. They also communicate with healthcare providers, patients, and insurance companies to resolve billing issues and ensure timely payment. The role of a medical billing specialist requires strong attention to detail, knowledge of medical terminology and coding systems (such as CPT and ICD-10), and proficiency in using billing software and electronic health record systems. They must stay updated with insurance regulations and guidelines to ensure compliance and maximize reimbursement for the healthcare facility. Strong communication and problem-solving skills are essential in this occupation to effectively navigate complex billing processes and resolve any disputes or discrepancies.

Skills: medical billing, healthcare administration, medical coding, insurance claims, revenue cycle management, healthcare finance
Job industry: Healthcare

How much does Medical Billing Specialist make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Medical Billing Specialist a well paid job?

No, our data shows that Medical Billing Specialist is typically not a well-paid job. The salary varies based on experience. Meaning that even though Medical Billing Specialist might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Medical Billing Specialist?

High salary for Medical Billing Specialist would be somewhere between 7,492,596 ISK and 9,876,604 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Medical Billing Specialist in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 6,811,451 ISK
Estimated Monthly Salary: 567,621 ISK
Estimated Weekly Salary: 130,989 ISK per week
Estimated Hourly Salary: 3,275 ISK per hour
By working as Medical Billing Specialist a person can save up to 1,241 USD per month or 14,895 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Medical Billing Specialist

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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