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Medical Billing Outsourcing Market Size, Share & Trends Analysis Report by Component (In-House, Outsourced), by Service (Front End, Middle End, Back End), by End Use, by Region, and Segment Forecasts, 2020 - 2027

  • ID: 4761220
  • Report
  • February 2020
  • Region: Global
  • 108 pages
  • Grand View Research
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FEATURED COMPANIES

  • Cerner Corporation
  • eClinicalWorks LLC
  • GE Healthcare
  • Genpact
  • Kareo, Inc.;
  • McKesson Corporation
  • MORE
The global medical billing outsourcing market size is projected to reach USD 23.1 billion by 2027, expanding at a CAGR of 12.3%. A large amount of clinical code representation for diagnosis and treatment coupled with the presence of multiple payers, renders medical billing an intricate part of any clinical practice, posing significant challenges. Currently, the healthcare system is witnessing a subsequent rise in the outsourcing of clinical billing services by hospitals and physicians due to obligatory implementation of complex ICD-10 coding systems, increasing healthcare costs, and a federal mandate to implement electronic medical records (EMR) to maintain reimbursement levels.

Furthermore, clinics/physician offices are gradually outsourcing their revenue management to cut unnecessary costs and prevent the burden of managing an administrative team to ensure effective handling of in-house billing functions. In addition, multispecialty healthcare groups are implementing consolidation requiring EHR integration and building large healthcare networks. This integration creates a need for revenue cycle management (RCM), which, in turn, demands additional expertise and trained personnel to manage the same. Thus, the consolidation of large healthcare practices is also expected to be one of the factors fueling market growth.

Further key findings from the study suggest:
  • The outsourced segment accounted for the largest market share in the component segment in 2019 and is expected to witness a high CAGR attributed to rising preference of hospitals, physician office, and startups opting for outsourced medical billing services for hassle-free claim management at low cost
  • Front-end services led the market in 2019. However, the middle-end services segment is expected to register the highest CAGR over the forecast period due to the growing demand for revenue cycle management (RCM) services offering electronic health records (HER) software
  • Hospitals, possessing higher claim volumes, accounted for the largest revenue share in the market in 2019 and is estimated to maintain the dominance even during the forecast years
  • North America held the largest share of the global medical billing outsourcing market. It is projected to expand further as the U.S. has witnessed a change in the healthcare system with the implementation of ICD-10 coding and pressure from the government to incorporate the EMR management system
  • Some of the key firms in this industry include R1 RCM, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, eClinicalWorks, LLC, Experian Information Solutions, Inc., GE Healthcare, Genpact, HCL, Kareo, Inc., McKesson Corporation, Quest Diagnostics, and The SSI Group, LLC.
  • Medical billing and revenue cycle management (RCM) companies such as AetnaHealth, are offering successful implementation of EMR at the practice level and are expected to transform the market.

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FEATURED COMPANIES

  • Cerner Corporation
  • eClinicalWorks LLC
  • GE Healthcare
  • Genpact
  • Kareo, Inc.;
  • McKesson Corporation
  • MORE
Chapter 1 Research Objective
1.1 Objective - 1
1.2 Objective - 2
1.3 Objective - 3
1.4 Objective - 4

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Component
2.2.2 Service
2.2.3 End use
2.2.4 Region
2.3 Competitive Insights
2.4 Medical Billing Outsourcing Market Snapshot

Chapter 3 Medical Billing Outsourcing Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.1.2 Related/ancillary market outlook
3.2 Market Segmentation
3.3 Analysis
3.4 Penetration and Growth Prospect Mapping
3.4.1 Analysis
3.5 Market Dynamics
3.5.1 Market driver analysis
3.5.1.1 Growing focus on increasing the profitability and revenue generated by the business
3.5.1.2 Federal mandate to implement digital record keeping by healthcare providers
3.5.1.3 Rapidly changing healthcare regulations
3.5.2 Market restraint analysis
3.5.2.1 High threat to data breaching
3.6 Business Environment Analysis Tools
3.6.1 Industry analysis - Porter’s
3.6.1.1 Competitive rivalry: High
3.6.1.2 Threat of new entrants
3.6.1.3 Bargaining power of buyers
3.6.1.4 Bargaining power of suppliers
3.6.1.5 Threat of substitutes
3.6.2 PEST analysis
3.6.2.1 Political landscape
3.6.2.2 Economic and social landscape
3.6.2.3 Technology landscape
3.7 Major Deals & Strategic Alliances Analysis
3.7.1 Joint ventures & partnerships
3.7.2 Mergers & acquisitions

Chapter 4 Medical Billing Outsourcing Market: Component Estimates & Trend Analysis
4.1 Segment Dashboard
4.2 Medical Billing Outsourcing Market: Component Movement Analysis, USD Million, 2019 & 2027
4.2.1 In-house
4.2.1.1 In-house market, 2016 - 2027 (USD Million)
4.2.2 Outsourced
4.2.2.1 Outsourced market, 2016 - 2027 (USD Million)

Chapter 5 Medical Billing Outsourcing Market: Service Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 Medical Billing Outsourcing Market: Service Movement Analysis, USD Million, 2019 & 2027
5.2.1 Front end
5.2.1.1 Front end market, 2016 - 2027 (USD Million)
5.2.2 Middle end
5.2.2.1 Middle end market, 2016 - 2027 (USD Million)
5.2.3 Back end
5.2.3.1 Back end market, 2016 - 2027 (USD Million)

Chapter 6 Medical Billing Outsourcing Market: End Use Estimates & Trend Analysis
6.1 Segment Dashboard
6.2 Medical Billing Outsourcing Market: End Use Movement Analysis, USD Million, 2019 & 2027
6.2.1 Hospital
6.2.1.1 Hospital market, 2016 - 2027 (USD Million)
6.2.2 Physician office
6.2.2.1 Physician office market, 2016 - 2027 (USD Million)
6.2.3 Others
6.2.3.1 Others market, 2016 - 2027 (USD Million)

Chapter 7 Medical Billing Outsourcing Market: Regional Estimates & Trend Analysis
7.1 Regional Market Share Analysis, 2019 & 2027
7.2 Regional Market Dashboard
7.3 Regional Market Snapshot (Countries)
7.4 Regional Leading Players, 2019
7.4.1 North America
7.4.2 Europe
7.4.3 Asia Pacific
7.4.4 Latin America
7.4.5 Middle East & Africa
7.5 Regional SWOT Analysis
7.5.1 North America
7.5.2 Europe
7.5.3 Asia Pacific
7.5.4 Latin America
7.5.5 MEA
7.6 North America
7.6.1 U.S. medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.6.2 Canada medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.7 Europe
7.7.1 Germany medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.7.2 U.K. medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.7.3 Spain medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.7.4 France medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.7.5 Italy medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.8 Asia Pacific
7.8.1 Japan medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.8.2 China medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.8.3 India medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.9 Latin America
7.9.1 Brazil medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.9.2 Mexico medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.10 Middle East & Africa
7.10.1 South Africa medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)
7.10.2 Saudi Arabia medical billing outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 8 Competitive & Vendor Landscape
8.1 Recent Development & Impact Analysis, by Key Market Participants
8.2 Strategy Mapping
8.2.1 Launch of new products
8.2.2 Acquisition
8.2.3 Expansion
8.2.4 Agreements, collaborations, partnerships
8.2.5 Marketing
8.3 Strategic Framework/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.4 Company Market Position Analysis (Revenue, Service Portfolio, Geographic Presence, Employee Strength, Strategic Initiatives)
8.4.1 Analysis
8.5 Company Profiles
8.5.1 R1 RCM, Inc.
8.5.1.1 Company overview
8.5.1.2 Financial performance
8.5.1.3 Service benchmarking
8.5.1.4 Strategic initiatives
8.5.1.5 SWOT analysis
8.5.2 Allscripts; Cerner Corporation
8.5.3 eClinicalWorks LLC
8.5.4 Experian Information Solutions, Inc.
8.5.5 GE Healthcare
8.5.6 Genpact
8.5.7 Kareo, Inc.;
8.5.8 McKesson Corporation
8.5.9 Quest Diagnostics
8.5.10 Cerner Corporation

Chapter 9 Recommendations

Chapter 10 Research Methodology & Scope
10.1 Research Methodology
10.1.1 Information procurement
10.1.1.1 Purchased database:
10.1.1.2 internal database
10.1.2 Primary Research
10.2 Research Scope and Assumptions
10.3 List to Data Sources

Chapter 11 Report FAQs
11.1 How do I trust your report quality/data accuracy?
11.2 My research requirement is very specific; can I customize this report?
11.3 I have a pre-defined budget. Can I buy chapters/sections of this report?
11.4 How do you arrive at these market numbers?
11.5 Who are your clients?
11.6 How will I receive this report?

Chapter 12 Appendix

Chapter 13 Compass - Cloud Based Report Delivery Platform

Chapter 14 Related Reports


*Full List of Tables and Figures Available on Enquiry.
Note: Product cover images may vary from those shown
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  • R1 RCM, Inc.
  • Allscripts; Cerner Corporation
  • eClinicalWorks LLC
  • Experian Information Solutions, Inc.
  • GE Healthcare
  • Genpact
  • Kareo, Inc.;
  • McKesson Corporation
  • Quest Diagnostics
  • Cerner Corporation
Note: Product cover images may vary from those shown
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