0
Allied Market Research
2023
Medical Billing Outsourcing Market

Medical Billing Outsourcing Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Report Code: A07455
Pages: NA
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

Medical Billing is also referred to as Revenue Cycle Management (RCM), is the most crucial and complex component in the healthcare business. The challenges faced for the RCM included the healthcare professionals who had to focus more on the non-medical work which was hectic. However, the advent of the technologies, rise in the government regulations and uncollectible accounts has triggered the use of Medical Billing Outsourcing.  Outsourcing the medical billing service suggests that a healthcare provider hires a medical billing service provider other than their practice to do all the billing works, frequently giving a fair percentage cut of the total revenue generated during the process. It eliminates the need of training as the medical billing service provider keeps up-to-date with the changes in healthcare regulations and coding system and follows the regulations of HIPAA thus, protecting the privacy, security, and confidentiality of Protected Health Information (PHI).

Medical-Billing-Outsourcing

COVID-19 scenario analysis : 

The Coronavirus disease 2019 (COVID-19) has created a global economic crisis along with a health care crisis. COVID-19 pandemic has stretched the healthcare system worldwide, and developed countries are anticipated to cause economic downfall. The COVID-19 pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in total revenue from March. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. As a result of social distancing and localized curfews, there are delayed elective surgical procedures. In addition, visa cancellations have led to an interruption in medical tourism and can negatively impact the healthcare services market growth.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The key factor which is expected to affect the medical billing outsourcing market growth include, the strict regulation and mandate over the implementation of the digital record keeping by the healthcare providers which is expected to propel the market, The rapid change and the uncertainty of the regulations and regulatory framework being declared which would boost the industry In the forecast period. The steep increase in the focus to generate profitability and higher revenue from the healthcare business would help the medical billing outsourcing market boost in the near future. However, the increase in the threat to data breeching may hamper the growth of the industry in the coming years.

The global medical billing outsourcing market trends are as follows:

New product launches and advancements to flourish the market

The key market players are focusing on product launches and bringing up new solutions for Revenue Cycle Management. For instance, Waystar had launched Hubble, an AI and robotic process automation (RPA) platform that goals to expand billing teams by automating processes that earlier used to require human labor. Waystar’s recent acquisitions of Recondo Technology and Digitize.AI have enabled Hubble to empowers more than ten of its RCM solutions, including revenue capture, claims and denials management, patient access,  and patient financial experience.

Furthermore, the growth in the need for having digital platforms and maintaining the records of every activity is expected to boost the medical billing outsourcing market growth in the coming years. For instance, R1 RCM had launched R1 Professional, which is a new physician revenue cycle management solution for large independent practices and also hospital-owned medical groups. The solution adds to R1's existing physician RCM portfolio, which services more than 27,000 physicians across 80 specialties and accounts for more than 30 million patient and clinician engagements annually.

Surge in mergers and acquisition to propel the market

The surge in the acquisitions of the industries to enhance global presence is anticipated to propel the market in the next few years. For instance, in July 2018, Veritas Capital had declared that it had acquired GE Healthcare’s Enterprise Financial Management asset. It also includes its Ambulatory Care Management asset, RCM business, and furthermore, the Workforce Management assets.

The rise in the expansion of the industries through acquisitions is expected to boost the medical billing outsourcing market growth in the coming years. In February 2019, Veritas Capital in collaboration with Evergreen Coast Capital acquired Athenahealth, Inc., as a minority investor. Virence Health, which is a subsidiary of Veritas Capital, combined with Athenahealth to use the access to its network-enabled services for hospital and other ambulatory customers.                                                                                                                               

 Key benefits of the report:

  • This study presents the analytical depiction of the global medical billing outsourcing industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Medical Billing Outsourcing market share.
  • The current market is quantitatively analyzed to highlight the global medical billing outsourcing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global medical billing outsourcing market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Medical Billing Outsourcing Market research report:

  • Who are the leading market players active in the Medical Billing Outsourcing market?
  • What are the current trends will influence the medical billing outsourcing market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in tasking further strategic steps?

Medical Billing Outsourcing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights

Aspects Details
By Component
  • In-house
  • Outsourced
By Services
  • Front End
  • Back End
  • Middle End
By End User
  • Hospitals
  • Physician Office
  • Others
By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • Latin America  (Brazil, Mexico, rest of LATAM)
  • the Middle East 
  • Africa 
Key Market Players GE Healthcare., eClinicalWorks LLC, Kareo, Inc., Cerner Corporation, Genpact, McKesson Corporation, Experian Information Solutions, Inc., Quest Diagnostics
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

Purchase Options

Call or Email Us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now
Related Tags

Purchase Full Report of
Medical Billing Outsourcing Market

Start reading.
This Report and over 71,223+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690  $3,321
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,840  $3,456
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820  $4,947
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540  $5,559
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870  $7,896
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

Related Reports
*Terms and Conditions Apply
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time for readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers