Medical Billing and Coding Industry Predicted to Boom by 2020

While some industries are stagnant or losing steam in the slowly rebuilding economy, one industry is predicted to grow faster than any other- medical billing and health information.

The Bureau of Labor Statistics projects that job growth in that sector will increase faster than any other occupation at 21 percent by 2020. Salaries for these positions are also expected to increase by over 20 percent over the next five years to match as well; all in all, great prospects for a growing field.

Any explosion in growth is necessarily followed by expansion. Expansion in staff or facilities requires cash on hand, which can be a problem for outsourced medical coding and billing services waiting weeks for payment from clients. Invoice factoring is one financing option that affords this industry flexibility, and the ability to pay obligations in a timely manner. As the industry grows exponentially, so will the cash needs of medical billing and coding businesses- and that is where factoring can help.

For the full article, see A Whopping 21% Increase in Medical Billing and Coding Jobs Salary