Growth Trends for Related Jobs
Analysts are experts who observe information and the provide recommendations based on their analysis of this information. The medical field is so diverse that there are a large variety of medical analysts employed. Three examples of medical analysts are cost containment medical analysts, medical policy analysts and medical management analysts.
The cost containment medical analyst is responsible for giving medical staff advice on reducing medical costs. These analysts are also responsible for analyzing cost reimbursement plans. At Highmark Inc, a healthcare insurance consulting company, medical policy analysts are responsible for developing medical policies for affiliate insurance companies. These analysts are also responsible for assessing current healthcare policies in order to determine if they work. The medical management analyst also communicates with physicians and other health care professionals in order to assess how business management can be improved. In addition, they're responsible for studying medical operations such as post pay claims in order to determine how these operations can be enhanced.
Medical analysts who have direct contact with patients have a risk of catching infectious diseases if safety precautions are not followed. These workers can also be in contact with patients who are unable to pay their medical bills, which can take an emotional toll on the medical analyst. Some medical analysts have to travel in order to visit other medical facilities.
Some companies, such as ACS, prefer that the cost containment medical analyst holds some sort of medical credential such as a nursing license. They also expect their medical analysts to have great communication skills and interpersonal skills. Highmark Inc wants its medical analysts to have experience in either the medical insurance industry or the medical device industry. They must also have computer skills and clinical research skills. Other companies, like Regence, want medical analysts with experience in both the medical industry and in claims processing. These medical analysts need mathematical skills and organizational skills. All of these analysts must have fantastic analytical skills.
Between 2008 and 2018, the healthcare industry is expected to grow by 22 percent, according to the Bureau of Labor Statistics. Medical analysts are needed in order to handle changes made in healthcare institutions such as changing healthcare policies brought about by healthcare legislation and changing management techniques brought about by technological advances.
The earnings for medical analysts range depending on the company. As of 2010, some medical analysts (like those at Arbor Rose) are paid $31,200; while others (those from Helen F. Dalton and Associates) are paid $50,000. R and B Research Inc medical analysts are paid $200,000.