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PUBLISHER: IMARC | PRODUCT CODE: 1236879

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PUBLISHER: IMARC | PRODUCT CODE: 1236879

Medical Billing Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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The global medical billing outsourcing market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.1% during 2023-2028.

Medical billing outsourcing, or revenue cycle management (RCM), refers to the process of outsourcing billing and finance-related processes by a hospital or healthcare institution. It involves the utilization of a third-party software application to process bills, file and follow up on medical insurance claims and obtain accurate payments for the services rendered. This aids in streamlining the complex collection processes, improving revenue generation, enhancing operational efficiencies and minimizing administrative workload. In comparison to in-house billing solutions, it is more cost-effective, transparent, and consistent and can assist in effectively managing hospital staff and other operations.

Complexities in managing reimbursements and claims and the consequent need for simplifying the process is one of the key factors driving the market growth. The medical and healthcare industry is increasingly adopting automated solutions for various operations with the aim to enhance in-house workflow and offer a seamless experience to patients. In line with this, widespread adoption of front-end outsourced medical billing solutions, which primarily include end-to-end patient access, digital order management, central scheduling, quality assurance and patient registration, is providing a boost to the market growth. The implementation of government regulations to employ digital record-keeping solutions is another major growth-inducing factor. Various hospitals, clinics, and healthcare centers are utilizing these solutions for efficient record-keeping of medical tourism bills and risk management against unforeseen circumstances. Other factors, including improvements in healthcare infrastructure, increasing integration of cloud-based services and the Internet of Things (IoT) with the existing technologies and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.

Key Market Segmentation:

  • IMARC Group provides an analysis of the key trends in each sub-segment of the global medical billing outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, service and end-use.

Breakup by Type:

  • In-House
  • Outsourced

Breakup by Service:

  • Front End
  • Middle End
  • Back End

Breakup by End-Use:

  • Hospitals
  • Physician Offices
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

  • The competitive landscape of the industry has also been examined with some of the key players being 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, etc.

Key Questions Answered in This Report:

  • How has the global medical billing outsourcing market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global medical billing outsourcing market?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the service?
  • What is the breakup of the market based on the end-use?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global medical billing outsourcing market and who are the key players?
  • What is the degree of competition in the industry?
Product Code: SR1523A144_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Medical Billing Outsourcing Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 In-House
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Outsourced
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Service

  • 7.1 Front End
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Middle End
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Back End
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast

8 Market Breakup by End-Use

  • 8.1 Hospitals
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Physician Offices
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Others
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Competitive Landscape

  • 13.1 Market Structure
  • 13.2 Key Players
  • 13.3 Profiles of Key Players
    • 13.3.1 Accretive Health (R1 RCM Inc.)
      • 13.3.1.1 Company Overview
      • 13.3.1.2 Product Portfolio
      • 13.3.1.3 Financials
      • 13.3.1.4 SWOT Analysis
    • 13.3.2 Allscripts Healthcare, LLC
      • 13.3.2.1 Company Overview
      • 13.3.2.2 Product Portfolio
      • 13.3.2.3 Financials
      • 13.3.2.4 SWOT Analysis
    • 13.3.3 Cerner Corporation
      • 13.3.3.1 Company Overview
      • 13.3.3.2 Product Portfolio
      • 13.3.3.3 Financials
      • 13.3.3.4 SWOT Analysis
    • 13.3.4 eClinicalWorks, LLC
      • 13.3.4.1 Company Overview
      • 13.3.4.2 Product Portfolio
    • 13.3.5 Experian Information Solutions Inc.
      • 13.3.5.1 Company Overview
      • 13.3.5.2 Product Portfolio
    • 13.3.6 GE Healthcare (General Electric Company)
      • 13.3.6.1 Company Overview
      • 13.3.6.2 Product Portfolio
    • 13.3.7 Genpact
      • 13.3.7.1 Company Overview
      • 13.3.7.2 Product Portfolio
    • 13.3.8 HCL Technologies
      • 13.3.8.1 Company Overview
      • 13.3.8.2 Product Portfolio
      • 13.3.8.3 Financials
      • 13.3.8.4 SWOT Analysis
    • 13.3.9 Kareo
      • 13.3.9.1 Company Overview
      • 13.3.9.2 Product Portfolio
    • 13.3.10 McKesson Corporation
      • 13.3.10.1 Company Overview
      • 13.3.10.2 Product Portfolio
      • 13.3.10.3 Financials
      • 13.3.10.4 SWOT Analysis
    • 13.3.11 Quest Diagnostics
      • 13.3.11.1 Company Overview
      • 13.3.11.2 Product Portfolio
      • 13.3.11.3 Financials
      • 13.3.11.4 SWOT Analysis
Product Code: SR1523A144_Report

List of Figures

  • Figure 1: Global: Medical Billing Outsourcing Market: Major Drivers and Challenges
  • Figure 2: Global: Medical Billing Outsourcing Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: Medical Billing Outsourcing Market: Breakup by Type (in %), 2022
  • Figure 4: Global: Medical Billing Outsourcing Market: Breakup by Service (in %), 2022
  • Figure 5: Global: Medical Billing Outsourcing Market: Breakup by End-Use (in %), 2022
  • Figure 6: Global: Medical Billing Outsourcing Market: Breakup by Region (in %), 2022
  • Figure 7: Global: Medical Billing Outsourcing Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 8: Global: Medical Billing Outsourcing (In-House) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: Medical Billing Outsourcing (In-House) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: Medical Billing Outsourcing (Outsourced) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: Medical Billing Outsourcing (Outsourced) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: Medical Billing Outsourcing (Front End) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: Medical Billing Outsourcing (Front End) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: Medical Billing Outsourcing (Middle End) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: Medical Billing Outsourcing (Middle End) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: Medical Billing Outsourcing (Back End) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: Medical Billing Outsourcing (Back End) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: Medical Billing Outsourcing (Hospitals) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: Medical Billing Outsourcing (Hospitals) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: Medical Billing Outsourcing (Physician Offices) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: Medical Billing Outsourcing (Physician Offices) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: Medical Billing Outsourcing (Other End-Uses) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: Medical Billing Outsourcing (Other End-Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: North America: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: North America: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: United States: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: United States: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Canada: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Canada: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: Asia Pacific: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: Asia Pacific: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: China: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: China: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: Japan: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: Japan: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: India: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: India: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: South Korea: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: South Korea: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: Australia: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: Australia: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: Indonesia: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: Indonesia: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: Others: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: Others: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: Europe: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: Europe: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: Germany: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: Germany: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: France: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: France: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: United Kingdom: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: United Kingdom: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: Italy: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: Italy: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: Spain: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: Spain: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: Russia: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: Russia: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: Others: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: Others: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Latin America: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Latin America: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Brazil: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Brazil: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: Mexico: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: Mexico: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: Others: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: Others: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Middle East and Africa: Medical Billing Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Middle East and Africa: Medical Billing Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Global: Medical Billing Outsourcing Industry: SWOT Analysis
  • Figure 73: Global: Medical Billing Outsourcing Industry: Value Chain Analysis
  • Figure 74: Global: Medical Billing Outsourcing Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Medical Billing Outsourcing Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Medical Billing Outsourcing Market Forecast: Breakup by Type (in Million US$), 2023-2028
  • Table 3: Global: Medical Billing Outsourcing Market Forecast: Breakup by Service (in Million US$), 2023-2028
  • Table 4: Global: Medical Billing Outsourcing Market Forecast: Breakup by End-Use (in Million US$), 2023-2028
  • Table 5: Global: Medical Billing Outsourcing Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: Medical Billing Outsourcing Market: Competitive Structure
  • Table 7: Global: Medical Billing Outsourcing Market: Key Players
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