의료비 청구 아웃소싱 시장 보고서 : 유형별, 서비스별, 최종 사용자별, 지역별(2024-2032년)

The global medical billing outsourcing market size reached US$ 10.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032. The increasing healthcare industry complexity with diverse payment models, insurance plans, and coding requirements, rising medical tourism sector, and continuous advancements in healthcare technologies are some of the major factors propelling the market.

Medical billing outsourcing is a practice wherein healthcare providers, such as hospitals, clinics, and individual practitioners, outsource handling of the medical billing and revenue cycle management processes. It allows healthcare providers to streamline their operations and dedicate more time and attention to patient care, improving overall patient satisfaction. It ensures accurate and timely claim submissions, reducing claim denials and accelerating payment, which leads to improved revenue collection. It is widely used by physical therapists, chiropractors, and mental health professionals to optimize their revenue streams.

The increasing healthcare industry complexity with diverse payment models, insurance plans, and coding requirements is positively influencing the market. Additionally, the expansion of telemedicine services and continuous rise in remote consultations and billing intricacies is favoring the market growth. Apart from this, rising preferences for preventive care measures are driving the need for specialized coding and billing procedures. Outsourcing partners assist in accurate billing of these services and supporting a shift towards preventive healthcare. Furthermore, the expanding medical tourism sector is catalyzing the demand for outsourcing as it helps healthcare providers navigate international billing, currency conversion, and compliance with different healthcare regulations.

Medical Billing Outsourcing Market Trends/Drivers:

Technological advancements

Continuous advancements in healthcare technologies represent one of the key factors influencing the market positively. Additionally, the increasing use of cutting-edge software and systems across hospitals, clinics, and other healthcare settings to streamline and optimize medical billing is offering a favorable market outlook. Apart from this, the growing emphasis on automation of medical tasks to reduce the potential for human errors and expedite the claims submission process is driving the market. Furthermore, the rising utilization of data analytics tools is enabling in-depth analysis of billing data, revealing trends and opportunities for improvement. Moreover, these data-driven insights are empowering healthcare providers to make informed decisions about their revenue cycle management.

Increasing focus on healthcare data security and privacy

The rising emphasis on healthcare data security and privacy is the other major factor strengthening the growth of the market. Additionally, the rapid digitalization of healthcare records and billing processes is driving the need for robust security standards to protect sensitive patient information, which is offering a favorable market outlook. Apart from this, the rising incidences of cybersecurity attacks and data thefts in the healthcare industry are driving the market. Medical billing outsourcing companies are well-equipped to address these security concerns. They invest in robust cybersecurity measures, including encryption, access controls, and intrusion detection systems, to safeguard patient data during the billing process.

Cost pressures on healthcare providers

The rising cost of healthcare delivery, coupled with the increasing need to invest in technology and comply with regulations, is straining the financial resources of hospitals, clinics, and individual practitioners. Additionally, the growing focus of medical professionals on optimizing their financial operations is encouraging them to adopt outsourcing services as they offer a cost-effective solution. Moreover, the rising awareness among healthcare providers about the other benefits offered by outsourcing, which include accelerating revenue collection through efficient claims processing and follow-up, and minimizing revenue leakage due to denials and delayed payments is promoting its adoption. Moreover, the expansion of hospitals, clinics, and other healthcare settings is creating a positive market outlook.

Medical Billing Outsourcing Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global medical billing outsourcing market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, service and end-use.

Breakup by Type:

In-House

Outsourced

Outsourced dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes in-house and outsourced. According to the report, outsourced represents the largest market segment due to its cost-efficiency. Additionally, outsourced medical billing companies are dedicated specialists in their field. They hire professionals who possess in-depth knowledge of medical coding, billing procedures, and healthcare regulations. This expertise ensures that claims are accurately coded, submitted, and processed, reducing the risk of denials and revenue loss. Apart from this, outsourced firms invest heavily in advanced billing software and technology, which includes automation, data analytics, and AI-driven solutions that improve billing accuracy and efficiency. Moreover, outsourcing partners help healthcare providers mitigate risks associated with billing errors, non-compliance, and data security breaches. They implement stringent security measures to protect patient data, ensuring compliance with regulations like HIPAA.

Breakup by Service:

Front End

Middle End

Back End

Front end holds the largest market share

A detailed breakup and analysis of the market based on the service has also been provided in the report. This includes front end, middle end, and back end. According to the report, front end accounts for the majority of the market share as it influences billing accuracy. Additionally, front-end services in medical billing typically include activities that occur at the initial stages of the billing process, such as patient registration, insurance verification, and charge capture. Apart from this, they help ensure that healthcare providers are appropriately compensated for their services and reduce the risk of underbilling and revenue leakage. Moreover, medical billing outsourcing companies specializing in front-end services invest in robust security measures to protect patient data, ensuring compliance with data protection regulations. Furthermore, they help determine the financial responsibility of patients and ensure that claims are sent to the correct insurance providers.

Breakup by End-Use:

Hospitals

Physician Offices

Others

Hospitals account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the end-use. This includes hospitals, physician offices, and others. According to the report, hospitals hold the largest market share as they operate on a much larger scale and handle a high volume of patient cases, services, and insurance claims daily. Additionally, hospitals have specialized departments, such as cardiology, orthopedics, and oncology with different billing requirements, coding nuances, and insurance claim procedures. Apart from this, they are subject to stringent regulatory requirements, including the Health Insurance Portability and Accountability Act (HIPAA) in the United States. Moreover, outsourcing partners specialize in accelerating revenue collection by minimizing claim denials, addressing coding errors, and streamlining claims processing. These improvements lead to enhanced financial performance for hospitals, which can invest the recovered revenue into patient care and infrastructure development.

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

North America exhibits a clear dominance, accounting for the largest medical billing outsourcing market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share since the region has a well-established healthcare industry. The United States and Canada have a robust healthcare infrastructure comprising hospitals, clinics, private practices, and other healthcare facilities, which creates a substantial demand for medical billing services. Apart from this, the widespread adoption of electronic health records (EHRs), telehealth solutions, and advanced billing software creates a need for specialized expertise in medical billing to optimize the use of these technologies. Furthermore, North American outsourcing firms continuously invest in technological innovation to stay competitive. They leverage automation, data analytics, artificial intelligence (AI), and other advanced tools to streamline billing processes, reduce errors, and accelerate revenue collection.

Competitive Landscape:

Medical billing outsourcing companies are processing insurance claims on behalf of healthcare providers. They are responsible for verifying the accuracy of claims, ensuring that all necessary documentation is included, and submitting claims to insurance companies for reimbursement. Apart from this, they are adopting advanced billing software and technologies, including automation, data analytics, and artificial intelligence (AI). These tools help streamline billing processes, reduce errors, and accelerate revenue collection. Moreover, many companies are focusing on adherence to healthcare regulations, such as HIPAA. They are continuously investing in training, technology, and security measures to ensure compliance throughout the billing process and protect patient data.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Accretive Health (R1 RCM Inc.)

Allscripts Healthcare, LLC

Cerner Corporation

eClinicalWorks, LLC

Experian Information Solutions, Inc.

GE Healthcare (General Electric Company)

Genpact

HCL Technologies

Kareo

McKesson Corporation

Quest Diagnostics

Recent Developments:

In August 2022, Accretive Health (R1 RCM Inc.), a leading provider of technology-driven solutions, announced an agreement with Emergency Physicians Professional Association (EPPA), a physician group providing high-quality emergency medicine and urgent care across Minnesota.

In April 2021, Cerner Corporation announced the acquisition of Kantar Health, a division of Kantar Group, for $375 million in cash, to accelerate innovation in life sciences research and improve patient outcomes worldwide.

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?

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