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U.S. Medical Billing Outsourcing Market Research Report 2019 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2026 | Grand View Research, Inc.

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U.S. Medical Billing Outsourcing Market Research Report 2019 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2026 | Grand View Research, Inc.

August 25
00:27 2021
U.S. Medical Billing Outsourcing Market Research Report 2019 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2026 | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, healthcare service providers are facing challenges in managing a large volume of claims and reimbursements, resulting in huge losses. This is expected to propel the market in the U.S. in the coming years.

The U.S. medical billing outsourcing market size is poised to reach USD 7.8 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 11.0% during the forecast period. Increasing population of baby boomers and rising chronic diseases among young generation are resulting in widened base of patients in the country.

Furthermore, growing burden on revenues & profits, declining Medicare payments, and mounting billing volumes are leading to need to decrease in-house processing costs. Therefore, hospitals are increasingly outsourcing their billing activities. The challenge mounts when billing process mandates adherence to the International Classification of Diseases-10th revision (ICD-10) code along with dealing with rising healthcare costs and declining reimbursements. Challenges in managing in-house billing processes include setbacks experienced in IT structure, untrained staff, billing errors, and lack of proper financial policy in place.

In order to curb or alleviate these challenges, several healthcare providers, such as acute care hospitals and clinics/physician offices, prefer outsourcing their medical billing process. Studies suggest that in 2015, 95.0% of independent physicians acknowledged that outsourcing revenue management is right decision.

Acceptance of Revenue Cycle Management (RCM) in various healthcare facilities varies with application. Scheduling, coding, billing, patient registration, and claims processing are adopted more than other RCM applications in the U.S.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/us-medical-billing-outsourcing-market

U.S. Medical Billing Outsourcing Market Report Highlights

 Advantages associated with outsourcing of medical billing services include improvement in billing process by decreasing errors, swift turnaround time, and smooth administrations for hospitals and other medical institutes

 Outsourced medical billing is likely to witness the highest growth during the forecast period owing to growing focus on minimizing the cost of healthcare delivery and improving patient & physician relationship

 The front end services segment dominated the market in 2018 as they increase downstream cash flow and decrease rework & cost to collect

 On the other hand, the middle-end services market is expected to register the fastest growth during the forecast period

 By end use, hospitals accounted for the largest revenue share in the U.S. medical billing outsourcing market in 2018. Errorless billing procedures and minimization of loss is a focus of RCM providers

 Physician offices, however, are estimated to post a higher CAGR during the same period. According to the Black Book’s 2016 RCM survey, demand from physicians’ offices are increasing as they want to align financial and clinical outcomes

 Some of the key players in this market are Allscripts; Accretive Health, Inc.; Cerner Corporation; Experian Information Solutions, Inc.; EClinicalWorks; GE Healthcare; Genpact; McKesson Corporation; Kareo; Quest Diagnostics; and The SSI Group. 

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/us-medical-billing-outsourcing-market/request/rs1

U.S. Medical Billing Outsourcing Market Segmentation

Grand View Research has segmented the U.S. medical billing outsourcing market by component, service, and end use:

U.S. Medical Billing Outsourcing Component Outlook (Revenue, USD Million, 2015 – 2026)

     In-House
    Outsourced

U.S. Medical Billing Outsourcing Service Outlook (Revenue, USD Million, 2015 – 2026)

     Front End
    Middle End
     Back End

U U.S. Medical Billing Outsourcing End Use Outlook (Revenue, USD Million, 2015 – 2026)

     Hospitals
    Physician Offices
     Others

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/5783/ibb

Browse More Related Report:

Hospital Outsourcing Market Size, Share & Trends Analysis Report By Services (Healthcare IT, Clinical Services, Business Services, Transportation Services), By Type (Public, Private), By Region, And Segment Forecasts, 2020 – 2027

About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/us-medical-billing-outsourcing-market