October 22, 2021
Medical Billing Outsourcing

Medical Billing Outsourcing Market to Record 12.1% CAGR Through 2027

The global medical billing outsourcing market value is expected to reach US$ 23.7 Billion by the end of 2027, decelerating at a CAGR of 12.1% from 2020 to 2027. The report contains 150+ pages with detailed analysis. The study provides the overall revenue of the global medical billing outsourcing market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global medical billing outsourcing market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the medical billing outsourcing industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1103

Growth Factors

The medical billing outsourcing market is mainly driven by the factors such as rising need to make the medical billing process more efficient, increasing emphasis on compliance & risk management, and efforts to reduce the in-house processing costs.

Unless a medical practitioner or an office is implementing the services offered by an experienced billing provider, there is a significant chance of revenue loss. In fact, statistics estimates that more than 20% of physician’s revenue is lost because of mistakes and loopholes in the medical billing process. This has prominently spurred the need to transform the process of medical billing into more efficient, in addition, skilled professionals are required for the billing process.

Efficient billing can further reduce the overall cost to the company as well as improvise the benefits. Increasing flow of patientsin the hospitals along with increasing the burden of medical processes that includeinsurance eligibility and records of patient check-inhave created chaos in the point of care, as well as has triggered the need to manage such records. In the sake of improving of the medical billing process, clinicians and other medical practitioners adopt the medical billing outsourcing service to effectively and efficiently manage patients and billings records. Hence, the rising demand for efficient medical billing positively influence the market growth.

Report Highlights

  • North America led the global market in 2019 due to shifting focus of numerous healthcare service providers in the U.S. towards end-to-end outsourcing firms for effectively managing their billing processes
  • Developing regions such as Latin America and the Asia Pacific projected to record lucrative growth rate during the forecast year due to standardization of outsourcing practices across the globe
  • Based on component, outsourced segment held the largest market value share in the year 2019, in addition to this, the segment exhibits lucrative growth over the forecast period
  • By service, front end service comprises of the main function of medical billing outsourcing along with this accounted for the largest market value share in the year 2019
  • Middle end services are likely project lucrative growth over the coming years because of new market entrants in the sector as well as rising awareness for the middle end service among practitioners
  • Hospital segment dominated the global medical billing outsourcing market with nearly half of the value share in 2019 and analyzed to maintain its dominance during the forecast period
  • Physician offices and private clinics are also adopting outsourcing services in various fields, thus experience the fastest growth in the global market in the coming years

Regional Snapshots

North America dominated the global medical billing outsourcing market with significant value share in the year 2019, This is mainly because of the advent of novel technologies as well as their rising adoption is influencing the United States to expand in the healthcare industry. Furthermore, rising healthcare expenditure is the key factor contributing towards the growth of this region. Increasing patient flow in the hospitals along with the rising need for efficient medical billing are the other prime factors that propel the market growth.

Being a developed nation, the healthcare system in the United States is well established and the adoption of paperless work is higher comparing to other regions. On the contrary, the Asia Pacific exhibits prominent growth over the forecast period due to high spending on medical infrastructure.

Key Players & Strategies

The global medical billing outsourcing market is moderately competitive because of the presence of significant number of players in the market. These players are prominently focusing towards expanding their geographical reach through mergers & acquisitions, partnership, collaboration, joint venture, and other inorganic growth strategies this in turn expected to boost market growth in the upcoming years. For instance, in December 2016, AllscriptsHealthcare Solutions, Inc. acquired Core Medical Solutions, an Australian healthcare IT software provider that significantly increases product offerings of the company in the country.

Similarly, in July 2018, Veritas Capital announced to acquire GE Healthcare’s Enterprise Financial Management asset that includes its Ambulatory Care Management asset, RCM business, and Workforce Management assets.

Some of the key players operating in the market are Allscripts Healthcare Solutions, Inc., R1 RCM, Inc., Cerner Corporation, and Experian Information Solutions, Inc., eClinicalWorks LLC, GE Healthcare, Kareo, Inc., Genpact, McKesson Corporation, and Quest Diagnostics among others.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global medical billing outsourcing market are as follows:

  • Allscripts Healthcare Solutions, Inc.
  • R1 RCM, Inc.
  • Cerner Corporation
  • Experian Information Solutions, Inc.
  • eClinicalWorks LLC
  • GE Healthcare
  • Kareo, Inc.
  • Genpact
  • McKesson Corporation
  • Quest Diagnostics

Market Segmentation

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of component, service, end-use, and region:

By Component

  • Outsourced
  • In-house

By Service

  • Back End
  • Middle End
  • Front End

By End-User

  • Physician Office
  • Hospital
  • Others

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights covered in the report include:

Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global medical billing outsourcing market. It examines trends and factors influencing demand for medical billing outsourcing globally and gauges the impact of the same on the production.

Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.

Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.

Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for medical billing outsourcing across the world.

Competitive Analysis – Some of the leading market players are profiled in the report on medical billing outsourcing. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.

Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global medical billing outsourcing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical billing outsourcing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Medical Billing Outsourcing Market, By Component

7.1. Medical Billing Outsourcing Market, by Component Type, 2020-2027
7.1.1. Outsourced
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. In-house
7.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Medical Billing Outsourcing Market, By Service

8.1. Medical Billing Outsourcing Market, by Service, 2020-2027
8.1.1. Back End
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Middle End
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Front End
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Medical Billing Outsourcing Market, By End-User

9.1. Medical Billing Outsourcing Market, by End-User, 2020-2027
9.1.1. Physician Office
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Hospital
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Medical Billing Outsourcing Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Component (2016-2027)
10.1.2. Market Revenue and Forecast, by Service (2016-2027)
10.1.3. Market Revenue and Forecast, by End-User (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.1.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.1.5.3. Market Revenue and Forecast, by End-User (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Component (2016-2027)
10.2.2. Market Revenue and Forecast, by Service (2016-2027)
10.2.3. Market Revenue and Forecast, by End-User (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.2.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.2.5.3. Market Revenue and Forecast, by End-User (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Component (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Service (2016-2027)
10.2.6.3. Market Revenue and Forecast, by End-User (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Component (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Service (2016-2027)
10.2.7.3. Market Revenue and Forecast, by End-User (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Component (2016-2027)
10.3.2. Market Revenue and Forecast, by Service (2016-2027)
10.3.3. Market Revenue and Forecast, by End-User (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.3.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.3.5.3. Market Revenue and Forecast, by End-User (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Component (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Service (2016-2027)
10.3.6.3. Market Revenue and Forecast, by End-User (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Component (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Service (2016-2027)
10.3.7.3. Market Revenue and Forecast, by End-User (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.4.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.4.5.3. Market Revenue and Forecast, by End-User (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Component (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Service (2016-2027)
10.4.6.3. Market Revenue and Forecast, by End-User (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Component (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Service (2016-2027)
10.4.7.3. Market Revenue and Forecast, by End-User (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.5.3. Market Revenue and Forecast, by End-User (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Component (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Service (2016-2027)
10.5.4.3. Market Revenue and Forecast, by End-User (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Component (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Service (2016-2027)
10.5.5.3. Market Revenue and Forecast, by End-User (2016-2027)

Chapter 11. Company Profiles

11.1. Allscripts Healthcare Solutions, Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. R1 RCM, Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Cerner Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Experian Information Solutions, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. eClinicalWorks LLC
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. GE Healthcare
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Kareo, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Genpact
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. McKesson Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Quest Diagnostics
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

Purchase This Premium Research Report @ https://www.precedenceresearch.com/checkout/1103

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defence, among different ventures, present globally.

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://precedenceresearchnews.wordpress.com

Follow us on LinkedIn | Twitter | Facebook

Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

View all posts by Precedence Research →