The latest report by IMARC Group, titled “Medical Billing Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global medical billing outsourcing market trends. The global market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.1% during 2023-2028. Medical billing outsourcing refers to a process of outsourcing billing by a company or any healthcare institution. It enhances the health of the patients by providing quality care and managing hospital staff and other operations effectively. It assists in reducing billing errors while ensuring accuracy with the timely submission of work. It saves money, accelerates cash flow, and improves patient satisfaction. As it aids in faster insurance payments and enhances transparency, medical billing outsourcing is widely utilized in hospitals and clinics across the globe. For an in-depth analysis, you can refer sample copy of the report:https://www.imarcgroup.com/medical-billing-outsourcing-market/requestsample Medical Billing Outsourcing Market Trends and Drivers: At present, the rising utilization of medical billing outsourcing due to the emergence of information technology (IT) resources in the healthcare business represents one of the primary factors strengthening the market growth. Besides this, the escalating demand for medical billing outsourcing due to the increasing number of patients, along with the growing need to maintain records and bills efficiently, is offering a positive market outlook. Apart from this, the rising compulsion and regulation to digitally keep the records of patients in the healthcare industry is propelling the market growth. Moreover, the increasing investment in healthcare infrastructure by governing agencies of several countries is bolstering the growth of the market. Furthermore, the rising awareness among the masses about the benefits of medical billing outsourcing to minimize errors is contributing to the market growth. Report Segmentation: The report has segmented the market into the following categories: Breakup by Type:
- In-House
- Outsourced
- Front End
- Middle End
- Back End
- Hospitals
- Physician Offices
- Others
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
- Accretive Health (R1 RCM Inc.)
- Allscripts Healthcare, LLC
- Cerner Corporation
- eClinicalWorks, LLC
- Experian Information Solutions, Inc.
- GE Healthcare (General Electric Company)
- Genpact
- HCL Technologies
- Kareo
- McKesson Corporation
- Quest Diagnostic