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Medical Billing Outsourcing Global Market Report 2020-30: COVID 19 Growth and Change

Starting Price : $ 4000.00 | Pages : 150 | Published : August 2020 | 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 decline from $8.69 billion in 2019 to $8.41 billion in 2020 at a compound annual growth rate (CAGR) of -3.16%. The decline is mainly due to the COVID-19 outbreak that has led to deferred care to avoid visiting hospitals, which resulted in reduced patient volume. The market is then expected to recover and reach $12.44 billion in 2023 at a CAGR of 13.93%.

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

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

The medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices.

    1. Executive Summary

    2. Medical Billing Outsourcing Market Characteristics

    3. Medical Billing Outsourcing Market Size And Growth

    3.1. Global Medical Billing Outsourcing Historic Market, 2015 - 2019, $ Billion

    3.1.1. Drivers Of The Market

    3.1.2. Restraints On The Market

    3.2. Global Medical Billing Outsourcing Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

    3.2.1. Drivers Of The Market

    3.2.2. Restraints On the Market

    4. Medical Billing Outsourcing Market Segmentation

    4.1. Global Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Front End

    Back End

    4.2. Global Medical Billing Outsourcing Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Hospitals

    Physician Offices

    5. Medical Billing Outsourcing Market Regional And Country Analysis

    5.1. Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    5.2. Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    6. Asia-Pacific Medical Billing Outsourcing Market

    6.1. Asia-Pacific Medical Billing Outsourcing Market Overview

    6.2. Asia-Pacific Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    7. China Medical Billing Outsourcing Market

    7.1. China Medical Billing Outsourcing Market Overview

    7.2. China Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion

    8. India Medical Billing Outsourcing Market

    8.1. India Medical Billing Outsourcing Market Overview

    8.2. India Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    9. Japan Medical Billing Outsourcing Market

    9.1. Japan Medical Billing Outsourcing Market Overview

    9.2. Japan Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    10. Australia Medical Billing Outsourcing Market

    10.1. Australia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    11. Indonesia Medical Billing Outsourcing Market

    11.1. Indonesia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    12. South Korea Medical Billing Outsourcing Market

    12.1. South Korea Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    13. Western Europe Medical Billing Outsourcing Market

    13.1. Western Europe Medical Billing Outsourcing Market Overview

    13.2. Western Europe Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    14. UK Medical Billing Outsourcing Market

    14.1. UK Medical Billing Outsourcing Market Overview

    14.2. UK Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    15. Germany Medical Billing Outsourcing Market

    15.1. Germany Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    16. France Medical Billing Outsourcing Market

    16.3. France Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    17. Eastern Europe Medical Billing Outsourcing Market

    17.1. Eastern Europe Medical Billing Outsourcing Market Overview

    17.2. Eastern Europe Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    18. Russia Medical Billing Outsourcing Market

    18.1. Russia Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    19. North America Medical Billing Outsourcing Market

    19.1. North America Medical Billing Outsourcing Market Overview

    19.2. North America Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    20. USA Medical Billing Outsourcing Market

    20.1. USA Medical Billing Outsourcing Market Overview

    20.2. USA Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    21. South America Medical Billing Outsourcing Market

    21.1. South America Medical Billing Outsourcing Market Overview

    21.2. South America Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    22. Brazil Medical Billing Outsourcing Market

    22.1. Brazil Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    23. Middle East Medical Billing Outsourcing Market

    23.1. Middle East Medical Billing Outsourcing Market Overview

    23.2. Middle East Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    24. Africa Medical Billing Outsourcing Market

    24.1. Africa Medical Billing Outsourcing Market Overview

    24.2. Africa Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    25. Medical Billing Outsourcing Market Competitive Landscape And Company Profiles

    25.1. Medical Billing Outsourcing Market Competitive Landscape

    25.2. Medical Billing Outsourcing Market Company Profiles

    25.2.1. Experian Information Solutions

    25.2.1.1. Overview

    25.2.1.2. Products and Services

    25.2.1.3. Strategy

    25.2.1.4. Financial Performance

    25.2.2. Cerner

    25.2.2.1. Overview

    25.2.2.2. Products and Services

    25.2.2.3. Strategy

    25.2.2.4. Financial Performance

    25.2.3. Kareo

    25.2.3.1. Overview

    25.2.3.2. Products and Services

    25.2.3.3. Strategy

    25.2.3.4. Financial Performance

    25.2.4. GE Healthcare

    25.2.4.1. Overview

    25.2.4.2. Products and Services

    25.2.4.3. Strategy

    25.2.4.4. Financial Performance

    25.2.5. Genpact

    25.2.5.1. Overview

    25.2.5.2. Products and Services

    25.2.5.3. Strategy

    25.2.5.4. Financial Performance

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

    27. Medical Billing Outsourcing Market Trends And Strategies

    28. Medical Billing Outsourcing Market Future Outlook and Potential Analysis

    29. Appendix

    29.1. Abbreviations

    29.2. Currencies

    29.3. Research Inquiries

    29.4. The Business Research Company

    29.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 3: Global Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 4: Global Medical Billing Outsourcing Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 5: Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 6: Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 7: Asia-Pacific, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 8: China, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 9: India, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 10: Japan, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 11: Australia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 12: Indonesia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 13: South Korea, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 14: Western Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 15: UK, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 16: Germany, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 17: France, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 18: Eastern Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 19: Russia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 20: North America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 21: USA, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 22: South America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 23: Brazil, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 24: Middle East, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 25: Africa, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 26: Experian Information Solutions Financial Performance
  • Table 27: Cerner Financial Performance
  • Table 28: Kareo Financial Performance
  • Table 29: GE Healthcare Financial Performance
  • Table 30: Genpact Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2019, $ Billion
  • Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 3: Global Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 4: Global Medical Billing Outsourcing Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 5: Global Medical Billing Outsourcing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 6: Global Medical Billing Outsourcing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 7: Asia-Pacific, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 8: China, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 9: India, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 10: Japan, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 11: Australia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 12: Indonesia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 13: South Korea, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 14: Western Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 15: UK, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 16: Germany, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 17: France, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 18: Eastern Europe, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 19: Russia, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 20: North America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 21: USA, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 22: South America, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 23: Brazil, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 24: Middle East, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 25: Africa, Medical Billing Outsourcing Market, Segmentation By Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 26: Experian Information Solutions Financial Performance
  • Figure 27: Cerner Financial Performance
  • Figure 28: Kareo Financial Performance
  • Figure 29: GE Healthcare Financial Performance
  • Figure 30: Genpact Financial Performance
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