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Medical Billing Outsourcing Global Market Report 2021: COVID 19 Growth And Change to 2030

Starting Price : $5000.00 | Pages : 175 | Published : January 2021 | SKU CODE : 7675 | Format :


The medical billing outsourcing market consists of sales of medical billing outsourcing services by entities (organizations, sole traders and partnerships) that provide medical billing outsourcing services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing works. Only goods and services traded between entities or sold to end consumers are included.

The global medical billing outsourcing market is expected to grow from $8.415 billion in 2020 to $9.528 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.939 billion in 2025 at a CAGR of 15%.

The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that the hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market.

The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market.

The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2018, eClinicalWorks, a medical billing service provider, launched the cloud-based platform for revenue cycle.

In June 2020, R1 RCM, a Chicago-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience.

The major players covered in the global medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL, Allscripts, R1 RCM, Accretive Health.

The countries covered in the global medical billing outsourcing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The regions covered in the global medical billing outsourcing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The global medical billing outsourcing market is segmented -

1) By Service: Front End, Back End

2) By End User: Hospitals, Physician Offices

3) By Component: In-house, Outsourced

    Table Of Contents

    1. Executive Summary

    2. Medical Billing Outsourcing Market Characteristics

    3. Medical Billing Outsourcing Market Trends And Strategies

    4. Impact Of COVID-19 On Medical Billing Outsourcing

    5. Medical Billing Outsourcing Market Size And Growth

    5.1. Global Medical Billing Outsourcing Historic Market, 2015-2020, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Medical Billing Outsourcing Forecast Market, 2020-2025F, 2030F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Medical Billing Outsourcing Market Segmentation

    6.1. Global Medical Billing Outsourcing Market, Segmentation  By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Front End

    Back End

    6.2. Global Medical Billing Outsourcing Market, Segmentation  By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

     Hospitals

    Physician Offices

    6.3. Global Medical Billing Outsourcing Market, Segmentation  By Component, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    In-house

    Outsourced

    7. Medical Billing Outsourcing Market Regional And Country Analysis

    7.1. Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    7.2. Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    8. Asia-Pacific Medical Billing Outsourcing Market  

    8.1. Asia-Pacific Medical Billing Outsourcing Market Overview  

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    9. China Medical Billing Outsourcing Market  

    9.1. China Medical Billing Outsourcing Market Overview  

    9.2. China Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

    10. India Medical Billing Outsourcing Market  

    10.1. India Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    11. Japan Medical Billing Outsourcing Market  

    11.1. Japan Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    12. Australia Medical Billing Outsourcing Market  

    12.1. Australia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    13. Indonesia Medical Billing Outsourcing Market  

    13.1. Indonesia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    14. South Korea Medical Billing Outsourcing Market  

    14.1. South Korea Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    15. Western Europe Medical Billing Outsourcing Market  

    15.1. Western Europe Medical Billing Outsourcing Market Overview

    15.2. Western Europe Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    16. UK Medical Billing Outsourcing Market  

    16.1. UK Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    17. Germany Medical Billing Outsourcing Market  

    17.1. Germany Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    18. France Medical Billing Outsourcing Market  

    18.3. France Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    19. Eastern Europe Medical Billing Outsourcing Market  

    19.1. Eastern Europe Medical Billing Outsourcing Market Overview

    19.2. Eastern Europe Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    20. Russia Medical Billing Outsourcing Market  

    20.1. Russia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    21. North America Medical Billing Outsourcing Market  

    21.1. North America Medical Billing Outsourcing Market Overview

    21.2. North America Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    22. USA Medical Billing Outsourcing Market  

    22.1. USA Medical Billing Outsourcing Market Overview

    22.2. USA Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    23. South America Medical Billing Outsourcing Market  

    23.1. South America Medical Billing Outsourcing Market Overview

    23.2. South America Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    24. Brazil Medical Billing Outsourcing Market  

    24.1. Brazil Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    25. Middle East Medical Billing Outsourcing Market  

    25.1. Middle East Medical Billing Outsourcing Market Overview

    25.2. Middle East Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    26. Africa Medical Billing Outsourcing Market  

    26.1. Africa Medical Billing Outsourcing Market Overview

    26.2. Africa Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    27. Medical Billing Outsourcing Market Competitive Landscape And Company Profiles

    27.1. Medical Billing Outsourcing Market Competitive Landscape

    27.2. Medical Billing Outsourcing Market Company Profiles

    27.2.1. Experian Information Solutions

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Cerner

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Kareo

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. GE Healthcare

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Genpact

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Medical Billing Outsourcing Market

    29. Medical Billing Outsourcing Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Table 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Table 3: Global Medical Billing Outsourcing Market, Segmentation  By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 4: Global Medical Billing Outsourcing Market, Segmentation  By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 5: Global Medical Billing Outsourcing Market, Segmentation  By Component, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 6: Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 7: Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 8: Asia-Pacific, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 9: China, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 10: India, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 11: Japan, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 12: Australia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 13: Indonesia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 14: South Korea, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 15: Western Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 16: UK, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 17: Germany, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 18: France, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 19: Eastern Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 20: Russia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 21: North America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 22: USA, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 23: South America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 24: Brazil, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 25: Middle East, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 26: Africa, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 27: Experian Information Solutions Financial Performance
  • Table 28: Cerner Financial Performance
  • Table 29: Kareo Financial Performance
  • Table 30: GE Healthcare Financial Performance
  • Table 31: Genpact Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Figure 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Figure 3: Global Medical Billing Outsourcing Market, Segmentation  By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 4: Global Medical Billing Outsourcing Market, Segmentation  By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 5: Global Medical Billing Outsourcing Market, Segmentation  By Component, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 6: Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 7: Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 8: Asia-Pacific, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 9: China, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 10: India, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 11: Japan, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 12: Australia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 13: Indonesia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 14: South Korea, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 15: Western Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 16: UK, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 17: Germany, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 18: France, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 19: Eastern Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 20: Russia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 21: North America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 22: USA, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 23: South America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 24: Brazil, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 25: Middle East, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 26: Africa, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 27: Experian Information Solutions Financial Performance
  • Figure 28: Cerner Financial Performance
  • Figure 29: Kareo Financial Performance
  • Figure 30: GE Healthcare Financial Performance
  • Figure 31: Genpact Financial Performance
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