Medical Billing Outsourcing Market Size Worth $19.7 Billion By 2026: Grand View Research, Inc.

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October 9, 2019
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Medical Billing Outsourcing Market Size Worth $19.7 Billion By 2026: Grand
View Research, Inc.

PR Newswire

SAN FRANCISCO, April 22, 2019

SAN FRANCISCO, April 22, 2019 /PRNewswire/ — The global medical billing
outsourcing market size is projected to reach USD 19.7 billion by 2026
expanding at a CAGR of 11.8% , based on a new report by Grand View Research,
Inc. Large amount of medical code representation for diagnosis and treatment
coupled with the presence of multiple payers renders medical billing an
intricate part of any medical practice, posing significant challenges.

Key suggestions from the report:

* In-house segment accounted for the largest market share in 2018. However,
outsourced medical billing is expected to be the largest and
fastest-growing segment in future
* Front-end services led the market in 2018. However, middle-end services
segment is expected to register the highest CAGR of 12.4% over the
forecast period
* Hospitals accounted for the largest market share of the medical billing
outsourcing market in 2018 and is estimated to maintain the dominance even
during the forecast years
* North America held the largest share of the global market. It is projected
to expand further as U.S. has witnessed a change in healthcare system with
the implementation of ICD-10 coding and pressure from the government to
incorporate EMR management system
* Some of the key firms in this industry include Accretive Health, Inc.;
Allscripts; Cerner Corporation; EClinicalWorks; Experian Information
Solutions, Inc.; GE Healthcare; Genpact; HCL; Kareo; McKesson Corporation;
Quest Diagnostics; and The SSI Group, LLC

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