Medical Billing Outsourcing - Global Market Review & Outlook (2020-2025) – IMARCGroup.com

According to the latest report by IMARC Group titled, “Medical Billing Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market to grow at a CAGR of around 8% during 2020-2025.

Medical billing outsourcing, also known as revenue cycle management (RCM), is a process that aids in managing revenue, increasing the cash flow, and reducing the cost of equipment, software, staff size and employee expenses. It also provides a wide range of services, such as end-to-end patient access, digital order management, central scheduling, pre-registration, patient registration quality assurance, demographic and insurance verification, pre-certification and authorization, medical necessity checking, financial counseling with propensity-to-pay and patient liability estimation. As a result, its demand is rising across the globe. 

A significant rise in the number of patients has resulted in increasing medical processes, such as records of patient check-in and insurance eligibility. This is catalyzing the demand for managing high-volume transactions worldwide. Moreover, as medical billing outsourcing assists various clinics and hospitals in efficiently managing the patient and billings records, reducing the cost and ensuring effective handling of in-house billing functions, its demand is escalating around the world. Furthermore, several key vendors are offering RCM with electronic medical records (EMR) for improved patient outcomes, which in turn is expected to create a positive outlook for the market in the coming years.
Insights on Market Segmentation:

Breakup by Component:

  • In-House
  • Outsourced
Breakup by Service:

  • Front End
  • Middle End
  • Back End

Breakup by End-Use:

  • Hospitals
  • Physician Offices
  • Others

View Report TOC, Figures and Tables: https://www.imarcgroup.com/medical-billing-outsourcing-market

Breakup by Region:
  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa
Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Accretive Health, Allscripts, Cerner Corporation, EClinicalWorks, Experian Information Solutions Inc., GE Healthcare, Genpact, HCL Technologies, Kareo, McKesson Corporation, Quest Diagnostics, R1 RCM Inc., Ltd.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Comments

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    Medical Billing Services
    .This article was very informative and clarified my doubts on the subject. Appreciate the efforts you have taken!

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