by [150+ Pages Report] According to Report, the Medical Billing Outsourcing market is expected to grow at a CAGR of 12.1% during forecast period 2021 to 2027 and is projected to reach around US$ 23.7 billion by 2027.
The Medical Billing Outsourcing market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.
This research report evaluates the Medical Billing Outsourcing market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global Medical Billing Outsourcing market for the period from 2017 to 2027.
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Market Report Scope
| Report Highlights | Details |
| Market Size | USD 23.7 Billion by 2027 |
| Growth Rate | CAGR of 12.1%% from 2021 to 2027 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Medical Billing Outsourcing market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Medical Billing Outsourcing market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
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.
View More Details@ https://www.globenewswire.com/news-release/2021/01/18/2160069/0/en/Medical-Billing-Outsourcing-Market-Size-to-Surpass-Around-USD-23-7-Bn-by-2027.html
Key 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
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Competition Landscape
In the final section of the research report, Precedence Research provided the global Medical Billing Outsourcing market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.
Some of the major players in the Medical Billing Outsourcing market include:
- 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
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)
Research Methodology
- Market estimate for 2020
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Most Asked Questions –
What was the market size value of the Medical Billing Outsourcing in 2020?
What is the expected market size by 2027?
What is the Medical Billing Outsourcing market growth?
What are the key factors that positively influence market growth?
Who are the prominent players in the Medical Billing Outsourcing market?
Why Buy this Report?
The purpose of Precedence Research’s Medical Billing Outsourcing market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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
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