Tuesday 3 March 2020

Medical Billing Market Size, Profile, Segmentation, Vendor Landscape | Forecast to 2027

Medical Billing Market Share, Trends and Growth Analysis By Type (Professional Billing, Institutional Billing), By Application (Database Management, Financial, Infrastructure, Operational) By Process (Electronic Billing, Payment And Medical Billing Services) - Global Forecast Till 2027

The medical billing market size is expected to perceive a spectacular growth by 2027, registering 6.5% CAGR over the review period. Changing healthcare regulations are projected to act as a growth propelling factor. Additional factors substantiating the market growth include the increasing healthcare expenditures, the proliferation of usages of the Internet, increased demand for risk and compliance management, and rising digitalization in the healthcare industry.

Medical billing, also known as revenue cycle management (RCM), is the most complex and crucial components of the healthcare IT Sector. It is a payment practice involved in receiving payments, bill submission, and payment follow-up.  Over the past few years, the medical billing market is increasingly witnessing tremendous traction, globally, owing to the wide uptake of medical billing across the healthcare sector which is rapidly evolving with the technological advancements.

The healthcare sector is booming perceiving increasing healthcare expenditures, worldwide, while, some billing and reimbursement concerns are growing, too.  At the same, the demand for controlling those concerns including increasing fraudulent billing cases, disputes, and pending reimbursement processes is growing rapidly. These two factors are cumulative support the market growth of medical billing.

Medical Billing Market Segmentations:
By Processes, the medical billing market is segmented into Payment, Electronic Billing, Medical Billing Services and others.
By Types, the medical billing market is segmented into Comprises Professional Billing, and Institutional Billing, others.
By Applications, the medical billing market is segmented into Financial, Database Management, Infrastructure, Operational and others.
By Regions, the medical billing market is segmented into Europe, North America, APAC, and Rest-of-the-World (RoW).

Medical Billing Market Key Players:
The global medical billing market is led by some of the fervent players including TCS (India), AGS Health (India), Accenture (US), GeBBS Healthcare (US), Genpact (US), Cognizant Technology Solutions (US), INFINIT Healthcare, Medusind (India), and HCL Technologies (India).

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