The Business Research Company’s Medical Billing Outsourcing Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 3, 2021 /EINPresswire.com/ — Medical billing industry trends involve medical billing service providers expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2018, eClinicalWorks, a medical billing service provider, launched the cloud-based platform for revenue cycle.
The major players covered in the outsourced medical billing services market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL, Allscripts, R1 RCM, Accretive Health.
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The global medical billing outsourcing market is expected to grow from $8.42 billion in 2020 to $9.53 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.94 billion in 2025 at a CAGR of 15%.
The global medical billing outsourcing market is segmented by service into front end, back end, by end user into hospitals, physician offices, and by component into in-house, outsourced.
Medical Billing Outsourcing Global Market Report 2021 – By Service (Front End, Back End), By End User (Hospitals, Physician Offices), By Component (In-house, Outsourced), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides medical billing outsourcing market overview, forecast medical billing outsourcing market size and growth for the whole market, medical billing outsourcing market segments, and geographies, medical billing outsourcing market trends, medical billing outsourcing market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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