Payment Depositor Medical Billing salary in Nigeria

Average Yearly Salary of Payment Depositor Medical Billing in Nigeria is approximately 3,001,734 NGN (3,585 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 Payment Depositor Medical Billing do?

The occupation of a payment depositor in medical billing involves handling and processing payments received from patients, insurance companies, and other third-party payers. The primary responsibility is to accurately record and deposit payments into the appropriate accounts. This role requires strong attention to detail, as the payment depositor must ensure that all payments are correctly allocated and posted to the correct patient accounts. Additionally, the payment depositor may be tasked with reconciling discrepancies or errors in payment records, communicating with patients or insurance companies regarding payment issues, and maintaining accurate financial records. They may also be responsible for generating reports related to payment activity and assisting with financial audits.

Skills: Payment Depositor, Medical Billing, Payment Processing, Account Reconciliation, Financial Records, Insurance Payments
Job industry: Healthcare

How much does Payment Depositor Medical Billing make?

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


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Salary comparison to National average

Is Payment Depositor Medical Billing a well paid job?

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

What is considered a high salary for Payment Depositor Medical Billing?

High salary for Payment Depositor Medical Billing would be somewhere between 3,301,907 NGN and 4,352,514 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Payment Depositor Medical Billing in Nigeria?

Living in Nigeria the approximate monthly expenses are: 206 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: 3,001,734 NGN
Estimated Monthly Salary: 250,145 NGN
Estimated Weekly Salary: 57,726 NGN per week
Estimated Hourly Salary: 1,443 NGN per hour
By working as Payment Depositor Medical Billing a person can save up to 93 USD per month or 1,118 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 Nigeria, see costs of living in Nigeria.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Niger, Chad, Cameroon, Benin.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Payment Depositor Medical Billing

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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