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Medical Billing Service Owners

Outlook

More Americans are expected to secure health insurance due to the passage of health care reform. Also, some government programs are actively involved in providing insurance to the elderly, children, people with disabilities, and those with low incomes. The Centers for Medicare and Medicaid Services (CMS), which administers Medicare, Medicaid, and the Children's Health Insurance Program, provides health insurance for more than 100 million Americans. This number will increase as the baby boomer generation grows older, as the Children's Health Insurance Program evolves, and as more people become eligible for health insurance coverage. The U.S. Department of Labor predicts 11 percent employment growth, much faster than average, through 2028 for medical records and health information technicians. A CMS study projects that health care expenditures in the United States will reach more than $6 trillion by 2027. This will mean the filing of billions of insurance claims. Doctors will require even more assistance in billing and receiving payments, particularly as more billing procedures are done electronically. An increasing number of billing professionals will become consultants to doctors' offices. These professionals will be needed to teach current staff how to use medical billing software.

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