Reports
Sale
Global Medical Billing Outsourcing Market Share, Size, Growth, Report, Analysis, Forecast: By Component: In-House, Outsourced; By Service: Front-End, Middle-End, Back-End; By End User: Hospitals, Physician Offices, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Medical Billing Outsourcing Market Outlook
The global medical billing outsourcing market size reached a value of approximately USD 12.43 billion in 2023. The market is further expected to grow at a CAGR of 10.70% between 2024 and 2032, reaching a value of USD 22.88 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Key Trends in the Market
Medical billing outsourcing refers to the practice of hiring an external company or service provider to handle the billing and payment processes of a healthcare practice or facility. This outsourcing arrangement allows healthcare providers to delegate administrative and financial tasks to a third-party vendor, freeing up their time and resources to focus on patient care. By outsourcing their medical billing functions, healthcare providers can improve the accuracy and the efficiency of their billing processes, reduce administrative costs, and enhance their overall revenue cycle management. Additionally, outsourcing can provide access to specialised expertise and technology that will help customers with being consistent with their bills.
- With the rising demand for making work effortless, healthcare providers are switching towards outsourcing to minimise work pressure and focus more on patients, which is supporting the growth of the medical billing outsourcing market. This helps the healthcare providers to manage their time more effectively and also provide more accurate bills by preventing errors in their billing processes.
- Schemes and policies launched by various governments towards healthcare infrastructure is also a reason key trend in the global medical billing outsourcing market. With the increase in disease prevalence, there has a been a surge in healthcare infrastructure investments by various governments that will directly improve the global medical billing outsourcing market.
- Incorporation of artificial intelligence (AI) into medical billing outsourcing is also improving productivity and efficiency as it helps keep track of patient bills and generating hassle-free bills without errors. AI technologies help in improving accuracy and automating tasks that consume time. Advancements in technology are likely to further enhance the capabilities of medical billing outsourcing.
Market Analysis
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Based on component, the market is bifurcated into in-house and outsourced. On the basis of service, the market is segmented into front-end, middle-end and back-end. Based on end user, the medical billing outsourcing market is divided into hospitals, and physician offices, among others. The regional markets for medical billing outsourcing are categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global medical billing outsourcing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- R1 RCM Inc.
- Cerner Corporation
- Allscripts Healthcare Solutions Inc.
- Experian Information Solutions Inc.
- eClinicalWorks LLC
- Athenahealth
- Quest Diagnostics
- Promantra Inc.
- AdvancedMD, Inc.
- Kareo, Inc.
- Others
Market Share by Component
The outsourced component of the medical billing outsourcing market accounts for a greater share of the market as it is seen inexpensive due to its requirement of no office space, technical help, or assistance. Productivity levels of the staff are also increased as healthcare providers have more time to dedicate to their patients and less on the administrative tasks, this helps keep track of the records easily, maintain insurance claims, and provide balanced bills to patients.
Meanwhile, in-house medical billing outsourcing is effective in maintaining confidentiality by having entire control on the records. With in-house medical billing outsourcing, service providers are based within the healthcare centres and the healthcare centres are able to directly control and look over the finances when the medical billing is being done.
Market Share by Service
Front-end services occupy a sizable share of the medical billing outsourcing market as they help in improving patient experiences by catering to processes which help in scheduling, insurance verification, and registration. Reduction in tedious work and improved patient experiences by providing faster services is a key factor driving the growth of this segment. Front-end outsourcing saves time and costs, relieving existing front-end workers by letting an outsourced team cater to the front-end medical billing needs.
Back-end medical billing outsourcing refers to the practice of contracting out transactional, back-end office functions to a qualified outside vendor. Due to the fact that the task is delegated to a specialised company, it is a cost-effective solution for healthcare providers as outsourcing takes over the usual billing procedures.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Competitive Landscape
Cerner Corporation is a health, information and technologies provider established in 1979 and headquartered at Missouri, United States, which has been providing their products to more than 27,000 facilities globally. They provide access to patients e-medical records and help in organising and delivering information to staff, technicians, pharmacists, and front and back end experts.
eClinicalWorks LLC is a private leader of healthcare IT founded in 1999 and located in Massachusetts, United States. They offer services like Electronic Health Record (HER) and Practice Management (PM) which are used by more than 850,000 medical professionals. eClinicalWorks provides healthcare IT solutions for various medical professionals and offer tools to engage patients, maintain population health, and manage revenue cycles.
Promantra Inc. is a healthcare IT services founded in 2003 and located in New Jersey, United States, which specialises in providing outsourcing services to all sections of the healthcare industry. They help healthcare providers work more efficiently, compete in their market, and offer quality patient care. The objective of the company is to help healthcare practices succeed in meeting their financial goals and ensuring customer satisfaction.
Other market players include R1 RCM Inc., Allscripts Healthcare Solutions Inc., Experian Information Solutions Inc., Athenahealth, Quest Diagnostics, Advanced MD,Inc., and Karen, Inc. amongst others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
|
| Breakup by Service |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Medical Billing Outsourcing Market Analysis
8.1 Key Industry Highlights
8.2 Global Medical Billing Outsourcing Market (2018-2023)
8.3 Global Medical Billing Outsourcing Market Forecast (2024-2032)
8.4 Global Medical Billing Outsourcing Market by Component
8.4.1 In-House
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Outsourced
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Medical Billing Outsourcing Market by Service
8.5.1 Front-End
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Middle-End
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Back-End
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Medical Billing Outsourcing Market by End User
8.6.1 Hospitals
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Physician Offices
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Medical Billing Outsourcing Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Medical Billing Outsourcing Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Medical Billing Outsourcing Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Medical Billing Outsourcing Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Medical Billing Outsourcing Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Medical Billing Outsourcing Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 R1 RCM Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cerner Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Allscripts Healthcare Solutions Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Experian Information Solutions Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 eClinicalWorks LLC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Athenahealth
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Quest Diagnostics
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Promantra Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 AdvancedMD, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Kareo, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Medical Billing Outsourcing Market: Key Industry Highlights, 2018 and 2032
2. Global Medical Billing Outsourcing Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Medical Billing Outsourcing Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Medical Billing Outsourcing Historical Market: Breakup by Service (USD Million), 2018-2023
5. Global Medical Billing Outsourcing Market Forecast: Breakup by Service (USD Million), 2024-2032
6. Global Medical Billing Outsourcing Historical Market: Breakup by End User (USD Million), 2018-2023
7. Global Medical Billing Outsourcing Market Forecast: Breakup by End User (USD Million), 2024-2032
8. Global Medical Billing Outsourcing Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Medical Billing Outsourcing Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Medical Billing Outsourcing Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Medical Billing Outsourcing Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Medical Billing Outsourcing Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Medical Billing Outsourcing Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Medical Billing Outsourcing Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Medical Billing Outsourcing Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Medical Billing Outsourcing Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Medical Billing Outsourcing Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Medical Billing Outsourcing Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Medical Billing Outsourcing Market Forecast: Breakup by Country (USD Million), 2024-2032
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 12.43 billion.
The market is expected to grow at a CAGR of 10.70% between 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 22.88 billion by 2032.
The key factors that are driving the market is the expanding healthcare infrastructure worldwide, increasing need to provide efficient bills, decreasing processing costs, and emphasis on error free bills.
The key trends of the market are the incorporation of AI technologies, surge in patient volume, increase in number of private healthcare providers, and growing adoption of medical billing outsourcing in developing nations.
Medical billing outsourcing refers to the practice of hiring an external company or service provider to handle the billing and payment processes of a healthcare practice or facility.
The primary components of medical billing outsourcing in the market are in-house and outsourced.
Medical billing outsourcing is an efficient way to help the healthcare providers create, maintain, and provide medical bills of the patients while taking less time and being cost effective.
The various services of medical billing outsourcing in the market are front-end, middle-end, and back-end.
The key market players in the global medical billing outsourcing market, according to the report are R1 RCM Inc., Cerner Corporation, Allscripts Healthcare Solutions Inc., Experian Information Solutions Inc., eClinicalWorks LLC, Athenahealth, Quest Diagnostics, Promantra Inc., AdvancedMD, Inc., and Kareo, Inc., among others.
Purchase Options
Call us on
Purchase Full Report
Mini Report
$ 2199
$1799
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3199
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4199
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5199
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER