Final answer:
The question refers to the 2014 AAPC Salary Survey, which documented a 2% increase in average salaries for credentialed professional coders. The survey is utilized to track trends in compensation within specific industries, and it can be paralleled with trends in nursing salaries and wage gaps in other professions like the financial industry.
Step-by-step explanation:
According to the 2014 AAPC Salary Survey, it shows coders salaries rose 2% to an average of $50,030 for credential professional coders. This survey aims to provide insights into the compensation trends within the medical coding profession. To understand how salaries can change over time, consider the economic principle of supply and demand as illustrated with nurses. For example, in 2020, median salary for nurses was $75,330, but with the increasing demand for services, the equilibrium quantity and salary of nurses are expected to rise (from Peo to Pe₁).
This trend can also be observed in other professions, where wage gaps and expectations on salaries are influenced by factors like gender and the particular industry. In some cases, industries have standard deviations in salary, such as the $11,000 deviation seen among mid-level professionals in the financial industry.