The global medical billing outsourcing market is projected to grow at a CAGR of over 10% during the forecast period. Medical billing involves the Revenue Cycle Management (RCM) process which comprises the most complex and crucial components of the healthcare IT business. The current systems in practice for managing revenue are gradually becoming obsolete, due to the lack of expertise in tackling new payment models and revenue management tools. The advent of new technological solutions, increasing and changing government requirements, and poor debt and uncollectible accounts have sparked a new trend leading to an increased preference for medical billing outsourcing by several healthcare providers.

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The global medical billing outsourcing market is segmented based on end-user into hospitals, physician offices, and others. The hospital segment is estimated to hold a prominent share in the market as the hospitals are major users of these services due to high claim volume. The hospital segment is followed by the physician's office in terms of revenue generation.

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The digital development accelerated by the COVID-19 pandemic is expected to have a significant positive impact on the market studied. This pandemic situation has firmly established the need for active action and the establishment of a robust, collaborative, scalable, and agile digital healthcare infrastructure. As a result, many of the companies are now building up a new roadmap such as adopting digitization and outsourcing non-core aspects of their businesses, such as billing and accounts, which is expected to augment the market growth. During this period, a sudden shift towards digital billing was observed which is further expected to drive the market growth. Additionally, consumer interest has also increased significantly towards online bill payments since the pandemic began, leading to greater demand for medical billing outsourcing as it forms a non-core business operation for most healthcare institutes.

Global Medical Billing Outsourcing Market – Segmentation
by End-User
Hospitals
Physician Office
Others

Global Medical Billing Outsourcing Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
Allscripts Healthcare Solutions Inc.
Athenahealth Inc.
Cerner Corp.
CureMD Healthcare
Eclat Health Solutions
eClinicalWorks
Experian Information Solutions, Inc.
GE Healthcare
HCL Technologies Ltd.
Invensis Technologies Pvt Ltd.
Kareo, Inc
McKesson Corp.
P3 Healthcare Solutions
Quest Diagnostics
R1 RCM Inc.
Rely Services Inc.
The SSI Group, LLC
Viaante Business Solutions
Waystar

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