Market Size Research

Goals

To provide the market sizes for medical billing and program certification courses , workforce training for the community health clinics , and medical billing & program certification courses in the community health clinics.

Early Findings

Medical Billing and Coding Certification Courses

  • While we found no instance for 'medical billing and program,' all other instances referred to the 'medical billing and coding' certification courses. Hence, we adopted the latter for this project.
  • "Medical billing and coding is one of the fastest-growing careers in healthcare. According to the U.S. Bureau of Labor Statistics (BLS), as published by The Balance, the field is expected to grow by a startling 11% by 2028." Blackstone Career Institute provides a growth rate of about 13% by 2026.
  • "Online medical billing and coding classes range anywhere from $3,000 at local community colleges to $30,000 at larger, more well-known institutions. Certification exams from the AAPC or AHIMA cost an additional $300. Also, professionals who have an AAPC or AHIMA certification will be required to take continuing education courses over a two-year period to keep renewing their certification, which can cost an additional $1,800." AAPC provides the starting price of $1,795. Lessons.Com provides the national average of $1,210 and the national average range of $749 to $1,895.

Size of the Workforce Training for Community Health Clinics Market

  • "A Federally Qualified Health Center (FQH, also known as Community Health Centers (CHCs), is a clinic that provides comprehensive primary and preventive care to patients of all ages in under-served and rural areas." There are 14,194 of these centers in the US.
  • "HRSA is the primary federal agency for improving health care to people who are geographically isolated, economically or medically vulnerable. HRSA’s health workforce training programs help those in need of high-quality primary health care by supporting the training of health professionals."
  • According to recent data, the HRSA trained 431,692 health workers in 2018-2019, offering 8,943 programs across 20,792 training sites in the US.

Summary

  • During our one-hour, preliminary research, the research team found no definite, monetary data on the market sizes for medical billing and program certification courses , workforce training for the community health clinics , and medical billing & program certification courses in the community health clinics. This can only be achieved through triangulation processes and assumptions that may yield only estimates. Therefore, our preliminary findings focused on useful data points that can be used in triangulating the market sizes.
  • For the medical billing and coding certification course aspect, the number of people who take medical billing and coding courses appears to be publicly unavailable. However, with logical assumptions, the difference in the number of workers in the space, for instance, year-on-year, obtained from the labor statistics and projections published by the US Bureau of Labor Statistics, can be taken as the number of people who took the course. With this data and the average price of taking the course, the market size can be estimated.
  • For the workforce training for community health clinics market, we provided the market size for workforce training for community health clinics in terms of the number of workers trained, training centers, or program. Further research may be required to find the size in terms of USD, either from the HRSA annual budget or expenditure or investments.
  • Lastly, for the market size for medical billing and program certification courses in the community health clinics, there was hardly any data in this regard. However, one possible way of triangulating, at least a ballpark estimate, is to cross-reference the ratio or share of the number of community health centers to the overall number of healthcare centers in the US and the ratio or share of the size of the unknown market size for medical billing and coding certification courses in the community health clinics to the overall medical billing and coding certification course market size. During further research, other plausible strategies will be explored.

Research proposal:

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