(Companies Covered: Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL, Allscripts, R1 RCM, Accretive Health)
The global medical billing outsourcing market is expected to decline from $8.69 billion in 2019 to $8.41 billion in 2020 at a compound annual growth rate of -3.16%. The decline is mainly due to the COVID-19 outbreak that has led to deferred care to avoid visiting hospitals, which resulted in reduced patient volume. The market is then expected to recover and reach $12.44 billion in 2023 at a compound annual growth rate of 13.93%.
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The medical billing outsourcing market consists of sales of medical billing outsourcing services by entities (organizations, sole traders and partnerships) that provide medical billing outsourcing services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing works. Only goods and services traded between entities or sold to end consumers are included.
Global Medical Billing Outsourcing Market Segmentation –
1) By Service: Front End, Back End.
2) By End User: Hospitals, Physician Offices.
Global Medical Billing Outsourcing Market Driver –
The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients.
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Few Points From The Global Medical Billing Outsourcing Market TOC
1. Executive Summary
2. Medical Billing Outsourcing Market Characteristics
3. Medical Billing Outsourcing Market Size And Growth
3.1. Global Medical Billing Outsourcing Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
4. Medical Billing Outsourcing Market Segmentation
5. Medical Billing Outsourcing Market Regional And Country Analysis
5.1. Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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