Medical billing, sometimes referred to as Revenue Cycle Management (RCM), comprises the most complex and crucial components of the healthcare IT business. The current systems in practice for managing revenue are gradually becoming obsolete, due to the lack of expertise in tackling new payment models and revenue management tools.
Providers are facing challenges in managing claims and reimbursements, resulting in huge losses. The advent of new technological solutions, rising and changing government requirements, and bad debt and uncollectible accounts have sparked a new trend leading to an increased preference for Business Process Outsourcing for Medical Billing by several healthcare providers. Efforts to decrease in-house processing costs and rising need for error minimization are also likely to augment the demand. In addition, need for meeting the federal mandates to implement digital record-keeping by healthcare providers and changing healthcare regulations will drive the market further.
Top Companies Covered in this Report:McKesson Corporation, Genpact, HCL, Cerner Corporation, Invensis, Experian Information Solutions, Inc., Kareo, GE Healthcare, Accretive Health, Inc., Allscripts Healthcare Solutions, EClinicalWorks;, The SSI Group, Quest Diagnostics,
Business Process Outsourcing for Medical Billing increases cash flow, helps save on the cost of equipment and software, and reduces staff size and employee expenses. Increasing geographical reach of key companies through mergers and acquisitions is expected to boost the market in coming years. For instance, in December 2016, Allscripts acquired an Australian healthcare IT software provider, Core Medical Solutions, to significantly increase Allscripts offerings in the country. North America is expected to be the largest regional market over the forecast years on account of high awareness levels about outsourcing healthcare IT services and strong presence of prominent market players in the region.
The report has been collated as a result of the qualitative and quantitative research, first-hand information, and inputs from industry professionals and industry participants across the value chain. The study also provides a detailed assessment of the current market trends, micro- and macroeconomic indicators and governing factors, as well as the market attractiveness, as per the segments and sub-segments. The report also focuses on the qualitative impact of the different Business Process Outsourcing for Medical Billing market factors on market segments and geographies.
Major Types of Business Process Outsourcing for Medical Billing covered are:
Front End
Middle End
Back End
Front End
Middle End
Back End
Major Applications of Business Process Outsourcing for Medical Billing covered are:
Hospitals
Physician Offices
Others
Hospitals
Physician Offices
Others
Research objectives:-
– To study and analyze the global Business Process Outsourcing for Medical Billing consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Business Process Outsourcing for Medical Billing market by identifying its various sub-segments.
– Focuses on the key global Business Process Outsourcing for Medical Billing manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Business Process Outsourcing for Medical Billing with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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