What is the Medical Billing and Coding Job Market Looking Like for 2012?

Today’s weakened economy and job outlook have not held much promise for many Americans seeking employment. The medical billing and coding job outlook, however, is one bright spot that promises continued job growth in the near future.

Current Statistics

According to the United States Department of Labor’s Bureau of Labor Statistics, as of 2008, medical billers and coders made up about 172,500 jobs in the U.S. The average annual job growth rate for an industry is between seven and 13 percent. However, the medical billing and coding job outlook is expected to increase by 20 percent or more between 2008 and 2018. That would increase the number of people employed doing this type of work to 207,600. The states with the highest level of employment in medical billing and coding are:

1. California (17,340 jobs)
2. Texas (14,710 jobs)
3. Florida (10,880 jobs)
4. New York (9,630)
5. Pennsylvania (7,470)

Industries Offering Jobs

Thirty nine percent of medical billing and coding jobs involve working at hospitals. The other industries, including non-health care employers, that offer this type of employment are:

1. Business/professional/labor/political organizations
2. Federal government
3. Grant making and giving services
4. Insurance carriers
5. Nursing care facilities
6. Outpatient care facilities
7. Physician offices
8. Specialty hospitals

Average Wages

The Bureau of Labor Statistics believes that there will be numerous job openings in this field in the coming years. While the availability of employment is certainly key, equally important is the medical billing and coding job outlook in terms of salary. The median wage is $32,350 a year or $15.55 an hour. The top paying states for medical billers and coders are:

1. New Jersey ($47,050/yearly or $22.62/hourly)
2. Washington, DC ($43,140/yearly or $20.74/hourly)
3. Hawaii ($42,430/yearly or $20.40/hourly)
4. Maryland ($40,930/yearly or $19.68/hourly)
5. Massachusetts ($40,230/yearly or $19.34/hourly)

Reasons for Positive Outlook

There are several reasons that the medical billing and coding job outlook is positive:

1. An aging population means an increase in the number of procedures and tests performed.
2. As more doctors switch to electronic health records, the demand for coders will climb.
3. Retiring workers and coders and billers who leave the field will need to be replaced.

Possibilities for the Future

One way that the American Health Information Management Association (AHIMA) hopes to keep the medical billing and coding job outlook positive beyond the Bureau of Labor Statistics 2018 estimates is by increasing the level of study medical coders and billers can pursue. The AHIMA Vision 2016 statement details a reevaluation of health information management (HIM). The hope is to create a graduate level of study that will provide the necessary background to support the more senior-level positions that the industry will require in the future. The result would be that students pursing medical billing and coding could choose from:

1. An associate’s degree
2. A baccalaureate’s degree
3. Or a master’s degree