Positive Trends for Healthcare Information Technology (HIT) Job Growth in 2014
Due to The Affordable Care Act, many employers are looking for professionals ready to take part in healthcare careers. Healthcare Information Technology (HIT) is particularly a thriving career choice, with HIT job growth expected to increase in 2014.
In order to obtain one of these job opportunities, you want to be prepared with the proper training and credentials. With special certification programsavailable, you don’t have to spend a lot of time or money to attain the education requirements. Most jobs in HIT require a postsecondary certificate or an associate’s degree.
In 2014, these are the trends to watch for HIT job growth.
Obama’s HITECH act has instigated significant job growth for HIT. An analysis from Health Data Management states that businesses have significantly increased hiring for HIT jobs. Between 2007 and 2011, more than 434,000 job postings were listed. Under the HITECH act, incentives are given to employers to make all of their health records electronic. Thanks to these incentives, businesses are seeking HIT professionals to help with this transfer. While it is uncertain how long these job openings will last, HIT job growth is expected to stay strong throughout 2014, with many companies just starting the transition to electronic health records.
Due to the transition between ICD-9 and ICD-10 record systems, medical coding jobs are high in demand, and salaries for these jobs are expected to increase, according to HealthLeaders Media. Employers have less than a year to meet the deadline for implementing the ICD-10 and are rapidly looking to hire medical coders.
Revenue Cycle Management
Hospitals are looking to reform their revenue cycle management (RCM) technology which places new jobs on the market for RCM specialists, as explained by Fierce Health IT. According to research done by Black Book, 66% of RCM-centric consulting firms and 92% of general management consulting firms are planning to hire increased numbers of RCM consultants.
The global wireless health market is projected to grow 20% in the next five years, according to Healthcare IT News. Data collected by Research and Markets states that while the spending for the global wireless health market is currently $23.8 billion, it is projected to reach $59.7 billion by 2018. Some of the reasons for this development include remote patient monitoring, aging populations and hospital deficits. This expansion is expected to encourage HIT job growth.
Spending for health analytics is expected to reach a double-digit increase, as stated by the GlobalNewswire. The market is projected to grow 23.7% from 2012 to 2017, extending to $10.8 billion. Analysis is needed in order to organize healthcare data into useful business information and statistics. With this growing need to transfer data into valuable material, employment for professional analysts is expected to grow.