Medical billing outsourcing is a process of outsourcing billing by the company or any healthcare institution. It enhances the health of the patients by providing quality care and managing hospital staff and other operations effectively. Medical billing outsourcing improves the cash flow, lowers software and equipment expenses, and reduces employee costs and size.
Market Dynamics:
Increasing digitalization in healthcare, increasing need to make billing processes efficient, growing trend of outsourcing in healthcare, increasing emphasis on compliance and risk management, and rapidly changing healthcare regulations are major factors expected to propel growth of the global medical billing outsourcing market over the forecast period. For instance, in August 2022, Access Healthcare accelerated healthcare outsourcing with automation, AI, and Big Data.
Moreover, in October 2021, R1 RCM Inc. announced that American Physician Partners (APP) has extended its revenue cycle management partnership with R1 until 2031. R1 utilized its expertise to re-design APP’s patient financial experience, implementing mobile functionality, predictive outreach solutions, and a proprietary emergency medicine billing system.
Key features of the study:
- This report provides in-depth analysis of the global medical billing outsourcing market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global medical billing outsourcing market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include GE Healthcare, R1 RCM, Inc. (Accretive Health), Quest Diagnostics, Allscripts Healthcare Solutions, Inc., Kareo, Inc., Cerner Corporation, and Experian Information Solutions, Inc., among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global medical billing outsourcing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical billing outsourcing market.
Detailed Segmentation:
- Global Medical Billing Outsourcing Market, By Component:
- In-house
- Outsourced
- Global Medical Billing Outsourcing Market, By Service:
- Front End
- Middle End
- Back End
- Global Medical Billing Outsourcing Market, By End User:
- Hospitals
- Physician Offices
- Global Medical Billing Outsourcing Market, By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- GE Healthcare
- R1 RCM, Inc. (Accretive Health)
- Quest Diagnostics
- Allscripts Healthcare Solutions, Inc.
- Kareo, Inc.
- Cerner Corporation
- Experian Information Solutions, Inc.
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