ECONOMIC BRIEF: Medical Billing Industry Economic Brief: Medical Billing Industry By Jane Doe ECO100 Professor: Dr. Bernie East October 23, 2018 Introduction This economic brief addresses several important characteristics of the Medical Billing Industry (NAICS – Sector 54, Subsector 541618). It describes the goods and services that this industry provides other sectors of the economy, namely the Health Care and Insurance Industries. It also discusses the Medical Billing Industry’s market structure, its projected future employment, and the over sight of government in this market. Industry Goods and Services The medical billing and coding field is well on its way to becoming a billion-dollar industry. Professionals in this field are in high demand by hospitals, clinics, and other medical facilities because it is their job to translate complex medical records into understandable and standardized codes that are then used to bill patients and insurance companies. They are also responsible for collecting payment from patients, determining their medical history, and transcribing this information into shorthand that can be understood by the necessary parties. (1) Market Structure and Characteristics The US Heath Care system has been rapidly transformed by automation, outsourcing, and overhauls to the medical billing industry. These changes have contributed to the rise of medical billing giants like Athenahealth, eClinicalWorks, McKesson, and others. (2) While the dominance of these firms suggests an oligopoly market, there is still room for home-based firms and mid-sized firms. (3) As suggested by Sculley (nd), with the right combination of people, smaller firms can pass on reduced costs to clients by being agile and flexible in this ever-changing market. (2) Microeconomic Relationships, Market Outcomes, and/or Trends One notable trend in the Medical Billing Industry is a potential increase in demand for qualified medical billers and coders. According to the Bureau of Labor Statistics (BLS), “the number of positions in the field of medical records and health information technicians — which includes medical billers and coders — will increase 13% between 2016 and 2026. This industry’s growth rate is faster than the national average for all occupations, and approximately 27,800 new positions will be added by 2026.” (4) One of the factors contributing to this growth is an aging population that requires health information technicians and health care service providers. See chart of BLS information below. (5) How Government Intervention May Impact the Industry The government may impact this industry through the False Claims Act of 1863 which allows any whistleblower to earn money from exposing cases of fraud against the federal government. Under the False Claims Act, anyone who exposes fraud against the federal government is entitled to a percentage of the damages owed by the offending party to the feder.

1. ECONOMIC BRIEF: Medical Billing Industry
Economic Brief: Medical Billing Industry
By Jane Doe
ECO100
Professor: Dr. Bernie East
October 23, 2018

2. Introduction
This economic brief addresses several important characteristics
of the Medical Billing Industry (NAICS – Sector 54, Subsector
541618). It describes the goods and services that this industry
provides other sectors of the economy, namely the Health Care
and Insurance Industries. It also discusses the Medical Billing
Industry’s market structure, its projected future employment,
and the over sight of government in this market.
Industry Goods and Services
The medical billing and coding field is well on its way to
becoming a billion-dollar industry. Professionals in this field
are in high demand by hospitals, clinics, and other medical
facilities because it is their job to translate complex medical
records into understandable and standardized codes that are then
used to bill patients and insurance companies. They are also
responsible for collecting payment from patients, determining
their medical history, and transcribing this information into
shorthand that can be understood by the necessary parties. (1)
Market Structure and Characteristics
The US Heath Care system has been rapidly transformed by
automation, outsourcing, and overhauls to the medical billing
industry. These changes have contributed to the rise of medical
billing giants like Athenahealth, eClinicalWorks, McKesson,
and others. (2) While the dominance of these firms suggests an
oligopoly market, there is still room for home-based firms and
mid-sized firms. (3) As suggested by Sculley (nd), with the

3. right combination of people, smaller firms can pass on reduced
costs to clients by being agile and flexible in this ever-changing
market. (2)
Microeconomic Relationships, Market Outcomes, and/or Trends
One notable trend in the Medical Billing Industry is a potential
increase in demand for qualified medical billers and coders.
According to the Bureau of Labor Statistics (BLS), “the number
of positions in the field of medical records and health
information technicians — which includes medical billers and
coders — will increase 13% between 2016 and 2026. This
industry’s growth rate is faster than the national average for all
occupations, and approximately 27,800 new positions will be
added by 2026.” (4) One of the factors contributing to this
growth is an aging population that requires health information
technicians and health care service providers. See chart of BLS
information below. (5)
How Government Intervention May Impact the Industry
The government may impact this industry through the False
Claims Act of 1863 which allows any whistleblower to earn
money from exposing cases of fraud against the federal
government. Under the False Claims Act, anyone who exposes
fraud against the federal government is entitled to a percentage
of the damages owed by the offending party to the federal
government. Because the US federal government spends billions
of dollars on various healthcare programs, (i.e. Medicare, ACA,
etc.) some of the highest payouts to whistleblowers were the
result of exposing fraud in this industry. One relevant case
involved eClinical Works which agreed to pay $155 million to
resolve a False Claims Act lawsuit that alleged it gave
customers kickbacks for publicly promoting its products. (6)

4. Government oversight in this industry is necessary and helps
reduce health care costs by reducing fraud.
Reference Page
1. Aslam, S. (2018). Medical Billing and Coding: The State of
the Industry. Retrieved from
https://www.meditec.com/blog/med-billing-coding-industry/
2. Sculley, M. (nd). Medical Billing Companies Share How
They’ll Compete with Major Competitors. Retrieved from:
https://www.practicesuite.com/practicemanagement/medical-
billing-companies-share-theyll-compete-major-competitors/3.
Addessi, F. (2018). How to Start a Home-Based Medical Billing
Service. Retrieved from https://www.thesimpledollar.com/how-
to-start-a-home-based+medical-billing-service/4. MB&CC (nd).
Retrieved from
https://www.medicalbillingandcoding.org/qnas/the-coder-is-in-
demand-medical-billers-coders/
5. Bureau of Labor Statistics, U.S. Department of Labor,
Occupational Outlook Handbook, Medical Records and Health
Information Technicians, on the Internet at
https://www.bls.gov/ooh/healthcare/medical-records-and-health-
information-technicians.htm (visited October 29, 2018).
6. Sullivan, T. (2017). eClinicalWorks to pay $155 million to
settle suit alleging it faked meaningful use certification.
Retrieved from:
https://www.healthcareitnews.com/news/eclinicalworks-pay-
155-million-settle-suit-alleging-it-faked-meaningful-use-
certification

5. 3
ECO100 – Principles of Economics
© 2018 Strayer University. All Rights Reserved. This document
contains Strayer University confidential and proprietary
information
and may not be copied, further distributed, or otherwise
disclosed in whole or in part, without the expressed written
permission of
Strayer University.
Page 1 of 3
Assignments and Rubrics
Assignment 1: Economic Brief
Due Week 5, worth 175 points
This assignment is aligned to these course outcomes:
• Explain economic principles and their applications in the real
world.
• Summarize the different types of market structures and the
role of government in economics.
In the workplace, we are often asked to create “briefs.” A brief
provides a snapshot, or short, written
summary, of a situation or event that has occurred. It is
generally just a few pages long and may include
additional visuals like a graph, chart, or table. In this

6. assignment, write a brief about economic concepts in
an industry that interests you.
Industry Selection and Background Resources
Use this resource to select an industry:
• NAICS (North American Industry Classification System)
These resources are available to help you identify a U.S.
industry and the products and services it
provides:
• Mergent Online
Help Video on Mergent Industry Reports
• Business Source Complete
United States Industry Profiles
All Industry Profiles by Country (select Industry Profiles in the
left menu Source Types)
• Flipster Online Magazines
Scroll through to view these recommendations: Bloomberg
Businessweek and Fast Company
Preparation
1. Begin this assignment by selecting an industry (and/or
subsector) from the NAICS list.
2. To best prepare for this assignment, it will be important to
review the industry background
resources above, The Little Book of Economics and the
Principles of Economics chapter

7. readings, as well as your prior discussion board questions and
responses.
3. Use the optional template to help you get started.
4. Get familiar with the Strayer Writing Standards (SWS). (See
Instructions below.)
Instructions
Develop an economic brief that is two to three (2-3) pages long
in which you:
1. Select an industry and describe the goods and/or services this
industry produces. Pick an
industry from the NAICS list.
2. Identify this industry’s market structure and at least two or
more market characteristics that
support this market structure. (Market structures are covered in
Weeks 3 and 4.)
3. Describe any notable microeconomic relationships, market
outcomes, and/or trends in this
industry. Include a graph, chart, or table containing related
data. (Microeconomic relationships
and market outcomes are covered in Weeks 2 through 4.)
https://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2017
http://www.mergentonline.com.libdatab.strayer.edu/reportssearc
h.php?pagetype=industrysearch
https://cdnapisec.kaltura.com/index.php/extwidget/preview/part
ner_id/956951/uiconf_id/38285871/entry_id/1_yuxj9f9s/embed/
dynamic
https://search-ebscohost-
com.libdatab.strayer.edu/login.aspx?direct=true&db=bth&bquer
y=united+states&cli0=FT&clv0=Y&cli1=PT83&clv1=(PT+Indu

8. stry+Report+OR+PT+Industry+Profile)&type=1&site=ehost-
live&scope=site
https://search-ebscohost-
com.libdatab.strayer.edu/login.aspx?direct=true&db=bth&bquer
y=&cli0=FT&clv0=Y&cli1=PZ7&clv1=Industry+Overview&typ
e=1&site=ehost-live&scope=site
http://search.ebscohost.com.libdatab.strayer.edu/login.aspx?dire
ct=true&db=eon&bquery=FT+Y&cli0=EH1&clv0=Y&type=0&s
ite=eon-live
https://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2017
https://blackboard.strayer.edu/bbcswebdav/courses/dev1186-
ECO100/ECO100%20Assignment%201%20Economic%20Brief
%201186%20Template%20_%20Lastname.docx
https://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2017
ECO100 – Principles of Economics
© 2018 Strayer University. All Rights Reserved. This document
contains Strayer University confidential and proprietary
information
and may not be copied, further distributed, or otherwise
disclosed in whole or in part, without the expressed written
permission of
Strayer University.
Page 2 of 3
4. How might government impact this industry’s market prices,
output, and/or market structure?
(Government intervention through price controls, industry
regulations, and antitrust enforcement
is covered in Weeks 2 and 4.)
5. This course requires use of Strayer Writing Standards (SWS).

9. The format is different compared to
other Strayer University courses. Please take a moment to
review the SWS documentation for
details. (Note: You’ll be prompted to enter your Blackboard
login credentials to view these
standards.)
o Your brief should include a cover page.
o Your brief should be two to three (2-3) pages in length (not
including the cover page),
double-spaced, 12-point font.
o Your brief should include a minimum of one (1)
reference/citation in the text.
https://blackboard.strayer.edu/bbcswebdav/institution/STANDA
RDIZED/StrayerWritingStandards/Strayer_Writing_Standards.p
df
ECO100 – Principles of Economics
© 2018 Strayer University. All Rights Reserved. This document
contains Strayer University confidential and proprietary
information
and may not be copied, further distributed, or otherwise
disclosed in whole or in part, without the expressed written
permission of
Strayer University.
Page 3 of 3
Assignment 1 Rubric

10. Grading for this assignment will be based on the quality of your
responses in addressing each of the
points below, using the following rubric:
Points: 175 Assignment 1: Economic Brief
Criteria
Exemplary
90–100% A
Proficient
80–89% B
Fair
70–79% C
Meets Minimum
Expectations
60–69% D
Unacceptable
Below 60% F
1. Identifies an
Industry and
describes the
goods and/or
services this
industry produces.
Weight: 20%
The student

11. correctly identifies
an industry and
provides an
accurate and
thorough
description of the
goods and/or
services this
industry produces.
The student correctly
identifies an industry
and provides an
accurate description
of the goods and/or
services this industry
produces. Some
minor details are
excluded.
The student correctly
identifies an industry
and provides a
partial description of
the goods and/or
services this industry
produces. Major
details are excluded.
The student
incorrectly identifies
an industry based on
the description of
goods and/or
services being
produced.

12. The student did
not identify an
industry and/or
provide a
description of any
industry goods
and/or services
being produced.
2. Identifies a market
structure for this
industry and at
least two supporting
market
characteristics.
Weight: 30%
The student
correctly and
thoroughly
identifies a market
structure for this
industry with two or
more supporting
market
characteristics.
The student correctly
identifies a market
structure for this
industry with two
market
characteristics that

13. support it. Some
minor details are
excluded.
The student correctly
identifies a market
structure for this
industry with at least
one market
characteristic that
supports it. Major
details are excluded.
The student
attempts to identify a
market structure for
this industry but may
or may not have
provided supporting
market
characteristics.
The student did
not identify a
market structure
and/or any market
characteristics for
this industry.
3. Describes a notable
economic
relationship, market
outcome, and/or
trend in the
industry. Includes
an existing graph,

14. chart, or table
containing related
data.
Weight: 20%
The student
correctly and
thoroughly
describes an
economic
relationship, market
outcome, and/or
trend in this
industry. Includes
an existing graph,
chart, or table
containing related
data.
The student correctly
describes an
economic
relationship, market
outcome, and/or
trend in this industry.
Includes an existing
graph, chart, or table
containing related
data. Some minor
details are excluded.
The student partially
describes an
economic

15. relationship, market
outcome, and/or
trend in this industry.
May or may not have
included an existing
graph, chart, or table
containing related
data. Major details
are excluded.
The student
incorrectly describes
an economic
relationship, market
outcome, and/or
trend in this industry.
May or may not have
included an existing
graph, chart, or table
containing related
data.
The student did
not describe an
economic
relationship,
market outcome,
and/or trend in
this industry. May
not have included
an existing graph,
chart, or table
containing related
data.
4. Describes how

16. government
intervention may
impact this industry.
Weight: 20%
The student
accurately and
thoroughly
describes how
government
intervention may
impact this
industry.
The student
accurately describes
how government
intervention may
impact this industry.
Some minor details
are excluded.
The student partially
describes how
government
intervention may
impact this industry.
Major details are
excluded.
The student
attempts to describe
how government
intervention may

17. impact this industry.
The student did
not describe how
government
intervention may
impact this
industry.
5. Uses SWS (Strayer
Writing Standards)
to write
professionally and
cite sources.
Meets the two-
page minimum.
Meets the one-
reference/citation
minimum.
Weight: 10%
Followed all writing
standards.
Meets the two-
page minimum.
Meets the one-
reference/citation
minimum.

18. Followed most
writing standards.
Meets the two-page
minimum.
Meets the one-
reference/citation
minimum.
Followed some
writing standards.
May not meet page
minimum.
May not meet
reference/citation
minimum.
Followed few writing
standards.
May not meet page
minimum.
May not meet
reference/citation
minimum.

19. Followed few to
no writing
standards.
Did not meet page
minimum.
Did not meet
reference/citation
minimum.
Economic Brief Title

20. [This should Identify the Industry]
[Your Name]
ECO100
[Professor’s Name]
[Date]
Economic Brief
Title
Introduction
(Enter your Introduction text here. It should be no more than
a paragraph or two. Please delete these instructions before
submitting your paper.)
Industry Goods and Services
(Your text here should describe the goods and/or services

21. produced by an industry that you pick from this
list: https://www.census.gov/cgi-
bin/sssd/naics/naicsrch?chart=2017
Please delete these instructions before submitting your paper.)
Market Structure and Characteristics
(Your text here should identify this industry’s market structure
and two or more market characteristics. Pleasedelete
these instructions before submitting your paper.)
Microeconomic Relationships, Market Outcomes, and/or Trends
(Your text here should discuss ONE of the items listed here as it
relates to this industry: a notable microeconomic relationship,
a market outcome, or a trend in the industry. Include a graph,
table, or chart if possible. Please delete these instructions
before submitting your paper.)
How Government Intervention May Impact the Industry
(Your text here should explain how government
intervention might impact this industry’s market prices, output,
and / or market structure. Please delete these instructions before
submitting your paper.)
Closing remarks (optional)
(Your text here should be a sentence or two that summarizes the
main points of your brief.)
Sources

22. (List your sources on a separate page in the order they appear in
your text. They should be numbered 1, 2, 3 etc. Refer to the
Strayer Writing Standards for additional formatting details.
Please delete these instructions before submitting your paper.)
1. List your first source here.
2. List your second source, if one exists.
3. Continue to list additional sources, if they exist.
2