Global Medical Billing Outsourcing Market to Reach $15.8 Billion by 2027

Strategic Insights -

The global medical billing outsourcing market size reached $8 billion in 2021 and is expected to reach $15.8 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 12.01% during 2021-2027. This growth is driven by the increasing complexities in managing reimbursements and claims, the need for simplifying the process, and the adoption of automated solutions in the healthcare industry.

Key Takeaways:

  • The market is expected to reach $15.8 billion by 2027, growing at a CAGR of 12.01% during 2021-2027.
  • The market is driven by the need for simplifying billing and finance-related processes, improving revenue generation, and enhancing operational efficiencies.
  • Companies mentioned in the report include Accretive Health (R1 RCM Inc.), Allscripts Healthcare LLC, Cerner Corporation, eClinicalWorks LLC, Experian Information Solutions Inc., GE Healthcare (General Electric Company), Genpact Ltd., HCL Technologies Ltd., Kareo Inc., McKesson Corporation, and Quest Diagnostics.
  • The report includes insights on the impact of COVID-19 on the industry and includes information on the various stages in the value chain of the industry.
  • The market is expected to be driven by the adoption of front-end outsourced medical billing solutions, the implementation of government regulations for digital record-keeping, and improvements in healthcare infrastructure.

Statistics:

  • The global medical billing outsourcing market size reached $8 billion in 2021.
  • The market is expected to reach $15.8 billion by 2027.
  • The market is expected to grow at a CAGR of 12.01% during 2021-2027.
  • The market is driven by the need for simplifying billing and finance-related processes in the healthcare industry.
  • The industry is expected to be driven by the adoption of front-end outsourced medical billing solutions, which include end-to-end patient access, digital order management, central scheduling, quality assurance, and patient registration.

Sources:

  • "Medical Billing Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report by ResearchAndMarkets.com.
  • "Global Medical Billing Outsourcing Market Report 2022 to 2027: Industry Trends, Share, Size, Growth, Opportunities and Forecasts" report by ResearchAndMarkets.com.