Medical billers and collections specialists will be among the most in-demand finance experts in the healthcare sector in 2018.
This is revealed in the 2018 Salary Guide for Accounting and Finance Professionals from California-based human resources firm Robert Half.
Aside from medical billing and collections, in-demand healthcare-related finance specialties include data and business analysis, and accounts payable.
The report said finance services hiring is especially strong in the healthcare, real estate, nonprofit, construction and technology sectors.
Businesses want accountants, financial analysts, payroll staff, controllers, internal and information technology auditors, and risk and compliance professionals, it said.
For skills, companies evaluate data analytics experience for financial job candidates, it added. Moreover, firms are looking for technological abilities to complement traditional accounting and finance skills.
While healthcare organizations reduce costs and improve service quality, their skilled workforces respond to a growing patient and membership population.
Hence, healthcare firms improve customer experience to increase their patient or membership bases, the report said.
As a result, these firms will then need to hire more revenue cycle, financial and operations staff. Consequently, healthcare consumers will get more transparency on costs and other expenses.
In general, the financial services industry wants general accountants, financial analysts, controllers, and internal and IT auditors. Commercial banks, lending companies, hedge fund and asset management firms want data, credit analytics, risk and compliance experts.
Top technology skills and not just traditional finance knowledge are wanted in financial services jobs, as big data use grows.
The report said businesses want professionals with advanced Excel and Access abilities and experience with SAS and Python.
In-demand finance skills include general knowledge of enterprise resource planning (ERP) systems especially SAP, Oracle, and Microsoft Dynamics GP. Moreover, in-demand finance skills include knowledge of cloud-based systems like NetSuite and Workday, the report said.
Other in-demand finance skills include experience with data analytics and database management software, especially SQL, it added. For financial analyst positions, proficiency in Hyperion is in demand, while QuickBooks expertise is needed for small and midsize businesses.
Meanwhile, in-demand certifications include certified public accountant (CPA), master of business administration (MBA), chartered financial analyst (CFA), chartered global management accountant (CGMA), certified internal auditor (CIA), certified information systems auditor (CISA), certified management accountant (CMA), certified payroll professional (CPP), and bachelor’s degree in accounting or finance.
Vincent Legaria cited data from the U.S Bureau of Labor Statistics on the employment prospects of medical billers.
Legaria, the country’s first medical biller, disclosed the 18-percent growth in medical billing until 2022.
Labor statistics revealed that job growth in the sector will be strong due to increased demand for healthcare services.
TeleDevelopment conducts health information management (HIM) training programs, and provides business solutions for corporate partners in medical coding and billing.
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