Average Medical Records Specialists Salary in Lexington-Fayette, KY
In Lexington-Fayette, KY, Medical Records Specialists earn an average annual salary of $50,610. This figure is notably below the national average of $55,480, suggesting that local market dynamics and potentially a higher concentration of professionals in the area influence compensation. While the cost of living is on par with the national average, this salary differential warrants a closer look at the local employment landscape.
Executive Summary
- Average Salary: $50,610 per year.
- Growth Trend: Salaries have shifted 13.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $67,440.
- Outlook: The local job market for Medical Records Specialists in Lexington-Fayette, KY, appears robust, with a total workforce of 730 professionals. The Location Quotient of 2.1 indicates a significant concentration of these roles compared to the national average, suggesting a sustained demand and a well-established presence of this profession within the region's healthcare sector.
Salary Overview
The average Medical Records Specialists in Lexington-Fayette, KY earns-8.8%below the national average.
$24.3
$973
$4,218
Medical Records Specialists Salary Trends (2020-2024)
While specific historical data for Lexington-Fayette, KY is not provided, it is reasonable to assume that salaries for Medical Records Specialists have experienced a gradual upward trend over the past four years, mirroring national patterns. This growth is typically driven by increasing healthcare demands, evolving technological requirements in record management, and general inflation.
Medical Records Specialists Salary Distribution in Lexington-Fayette, KY
Career progression for Medical Records Specialists in Lexington-Fayette, KY, is typically marked by increasing earning potential. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with specialized skills and extensive experience can command salaries in the higher percentiles, reflecting a significant salary gap that signifies substantial career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $34,500 | $16.6 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $37,958 | $18.2 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $48,690 | $23.4 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $63,263 | $30.4 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $67,440 | $32.4 |
Detailed Medical Records Specialists Market Analysis
Relocation Context
Nominal Salary
$50,610
Gross Pay
Real Wage (Purchasing Power)
$50,610
Adjusted for COL (100)
The average annual salary of $50,610 for Medical Records Specialists in Lexington-Fayette, KY, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, offering a stable financial standing for professionals considering a move to or within the area.
Job Market Context
730
Total Jobs
2.563
Per 1K Jobs
2.1
Location Quotient
Lexington-Fayette, KY has 2.1x the national concentration of Medical Records Specialists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 2.1, Lexington-Fayette, KY, demonstrates a concentration of Medical Records Specialists that is more than double the national average. This suggests a highly developed and potentially competitive job market, where employers may have a larger pool of qualified candidates, but also indicates a strong industry presence and ongoing need for these specialized roles.
Nearby Job Markets
Nearby Cities for Medical Records Specialists
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Medical Records Specialists Salary | $44,720↓ 12% | 28 mi |
| South Central Kentucky nonmetropolitan area Medical Records Specialists Salary | $43,920↓ 13% | 28 mi |
| West Kentucky nonmetropolitan area Medical Records Specialists Salary | $44,270↓ 13% | 28 mi |
| East Kentucky nonmetropolitan area Medical Records Specialists Salary | $40,110↓ 21% | 28 mi |
| Louisville/Jefferson County, KY-IN Medical Records Specialists Salary | $55,390↑ 9% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Medical Records Specialistss?
Frequently Asked Questions
How much does a Medical Records Specialists make in Lexington-Fayette, KY?
The median annual salary for a Medical Records Specialists in Lexington-Fayette, KY is $50,610. This typically ranges from $34,500 for entry-level positions to $67,440 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 8.8% lower than the national median of $55,480.
Is Lexington-Fayette, KY a lucrative place for Medical Records Specialists?
No, not exceptionally lucrative compared to the national average.While the cost of living is average, the salary of $50,610 is below the national average of $55,480. The high concentration of professionals (LQ 2.1) may contribute to this lower average pay.
Is Lexington-Fayette, KY a good place to live for Medical Records Specialists?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($44,720) and South Central Kentucky nonmetropolitan area.
How does the number of Medical Records Specialists in Lexington-Fayette, KY compare nationally?
Lexington-Fayette, KY has 2.563 Medical Records Specialists per 1,000 workers, which is significantly higher than the national average due to its high Location Quotient of 2.1.
What is the impact of the Cost of Living Index on the Medical Records Specialist salary in Lexington-Fayette, KY?
The Cost of Living Index in Lexington-Fayette, KY is 100, meaning it is exactly average nationally. Therefore, the $50,610 salary has average purchasing power within the region.
Does a higher Location Quotient mean more job opportunities for Medical Records Specialists in Lexington-Fayette, KY?
A Location Quotient of 2.1 suggests a strong presence and demand for Medical Records Specialists, indicating a robust job market with potentially ample opportunities, though it also implies a higher concentration of professionals.
How does experience affect Medical Records Specialist salaries in Lexington-Fayette, KY?
Experience significantly impacts earnings, with entry-level positions offering lower salaries and senior roles commanding higher pay, reflecting a clear career progression path within the field.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 730 employees in the Lexington-Fayette, KY area with a job density of 2.563 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Medical Records Specialists • Data source: BLS OEWS 2024 •Jobs in Lexington-Fayette, KY