Services industry

Medical Billing Service Market 2020 By Manufacturers, Regions, Type, And Application, Forecast To 2026

  • Code : SMI21655
  • Pages : 134
  • Date : Feb, 2020
  • Category : Services
  • |
  • Publisher : SMI



 

Summary

The global Medical Billing Service Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019. 

Medical billing service is a technologically advanced solution that ensures long-term and sustained operations for the healthcare provider. Medical billing is a process of following up on claims with health insurance to receive the payment for services rendered by a healthcare provider such as treatments, testing, and procedures. Basically, medical billing service converts healthcare services into a billing claim. Medical billing service is an efficient billing process as it reduces the in-house processing costs. Medical billing services can be classified into front-end and back end. Medical billing service simplifies the small and mid-sized practices and also increase the reimbursements and reduce the concern regarding collections.

The rising need for risk management and make the billing process efficient is expected to foster the market growth of the medical billing service. Moreover, the rising focus of providers to launch innovation in billing process service is further expected to propel the market growth of medical billing service over the forecast period. For instance, in November 2019, OODA Health has announced the introduction of a new product that it contends will take the pain out of medical billing for payers, providers, and patients.

From the geographical perspective, North America is expected to gain significant growth over the forecast period and this can be attributed to the presence of a well-established healthcare sector. According to the U.S. Centers for Medicare & Medicaid Services., U.S. health care spending grew 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent.

Key Developments:

  • In November 2019, FDS, Inc., the provider of population health and financial analytics for community pharmacies, announced the launch of FDS MedBill, an affordable and comprehensive medical billing solution. FDS MedBill opens a new revenue stream for independent pharmacies. It enables and optimizes reimbursements for any medical services they provide, including durable medical equipment, supplies, diabetes management, diagnostic testing, and more.
  • In November 2018, Kareo, the leading provider of cloud-based clinical and business management software for independent medical practices and medical billing companies, announced the sale of its revenue cycle management (RCM) services business unit to a leading independent supplier of outsourced medical billing services, Health Prime International
  • In June 2016, Medsphere Systems, a hospital EHR developer, announced that it is merging with ChartLogic to expands Medsphere’s IT products and services, which will now include ChartLogic’s ambulatory EHR, practice management, and medical billing technology.

The Medical Billing Service Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Medical Billing Service Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.

The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Manufacturers covered in this Report:-

  • DrChrono
  • CareCloud
  • AdvancedMD
  • ClaimCare
  • Kareo
  • BillingParadise
  • Auctus Group
  • Clinical Info Solutions
  • Human Medical Billing
  • InSync Healthcare Solutions
  • Iris Medical
  • ChartLogic
  • CRT Medical Systems
  • Nuesoft Technologies
  • GroupOne

By the Product Type, the market is primarily segmented into:

  • On-premise
  • Cloud Based

By Applications, the market is segmented into:

  • Clinical
  • Operations
  • Pharmacy
  • Other

The report covers the following Regions:

  • North America
    • United States
    • Canada
    • Mexico
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Indonesia
    • Thailand
    • Malaysia
    • Philippines
    • Vietnam
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
  • Central & South America
    • Brazil
  • Middle East & Africa
    • Turkey
    • GCC Countries
    • Egypt
    • South Africa

Objective of the Medical Billing Service Market Report:

  • To assess the size of the market by value and volume
  • Analyze the Medical Billing Service Market in terms of regions and major countries
  • Highlight recent developments and trends in the market
  • Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
  • Determine the share of the Medical Billing Service Market in terms of various segments such as by product type, application, and end-user
  • Offer accurate projection of the market for the forecast period using state-of-the-art tools and the current primary and secondary research approaches
  • Discuss major factors that impact growth of the Medical Billing Service Market

The Medical Billing Service Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Medical Billing Service Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.

For the data information by region, company, type, and application, 2019 are considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Key Stakeholders:

  • Material suppliers/wholesalers
  • Market Distributors/traders
  • Regulatory bodies
  • Research organizations, and consulting firms
  • Commercial research & developments (R&D)
  • Trade associations and industry bodies
  • Importers and exporters
  • End-use industries

Available Customizations:

Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into the specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.

Table of Contents

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.4.1 Global Medical Billing Service Market Size Growth Rate by Type (2014-2025)
1.4.2 On-premise
1.4.3 Cloud Based
1.5 Market by Application
1.5.1 Global Medical Billing Service Market Share by Application (2019-2025)
1.5.2 Clinical
1.5.3 Operations
1.5.4 Pharmacy
1.5.5 Other
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Medical Billing Service Market Size
2.2 Medical Billing Service Growth Trends by Regions
2.2.1 Medical Billing Service Market Size by Regions (2019-2025)
2.2.2 Medical Billing Service Market Share by Regions (2014-2019)
2.3 Industry Trends
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Challenges
2.3.4 Porters Five Forces Analysis

3 Market Share by Key Players
3.1 Medical Billing Service Market Size by by Players
3.1.1 Global Medical Billing Service Revenue by by Players (2014-2019)
3.1.2 Global Medical Billing Service Revenue Market Share by by Players (2014-2019)
3.1.3 Global Medical Billing Service Market Concentration Ratio (CR5 and HHI)
3.2 Medical Billing Service Key Players Head office and Area Served
3.3 Key Players Medical Billing Service Product/Solution/Service
3.4 Date of Enter into Medical Billing Service Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Type and Application
4.1 Global Medical Billing Service Market Size by Type (2014-2019)
4.2 Global Medical Billing Service Market Size by Application (2014-2019)

5 North America
5.1 North America Medical Billing Service Market Size (2014-2019)
5.2 Medical Billing Service Key Players in North America
5.3 North America Medical Billing Service Market Size by Type
5.4 North America Medical Billing Service Market Size by Application

6 Europe
6.1 Europe Medical Billing Service Market Size (2014-2019)
6.2 Medical Billing Service Key Players in Europe
6.3 Europe Medical Billing Service Market Size by Type
6.4 Europe Medical Billing Service Market Size by Application

7 China
7.1 China Medical Billing Service Market Size (2014-2019)
7.2 Medical Billing Service Key Players in China
7.3 China Medical Billing Service Market Size by Type
7.4 China Medical Billing Service Market Size by Application

8 Japan
8.1 Japan Medical Billing Service Market Size (2014-2019)
8.2 Medical Billing Service Key Players in Japan
8.3 Japan Medical Billing Service Market Size by Type
8.4 Japan Medical Billing Service Market Size by Application

9 Southeast Asia
9.1 Southeast Asia Medical Billing Service Market Size (2014-2019)
9.2 Medical Billing Service Key Players in Southeast Asia
9.3 Southeast Asia Medical Billing Service Market Size by Type
9.4 Southeast Asia Medical Billing Service Market Size by Application

10 India
10.1 India Medical Billing Service Market Size (2014-2019)
10.2 Medical Billing Service Key Players in India
10.3 India Medical Billing Service Market Size by Type
10.4 India Medical Billing Service Market Size by Application

11 Central & South America
11.1 Central & South America Medical Billing Service Market Size (2014-2019)
11.2 Medical Billing Service Key Players in Central & South America
11.3 Central & South America Medical Billing Service Market Size by Type
11.4 Central & South America Medical Billing Service Market Size by Application

12 International Players Profiles
12.1 DrChrono
12.1.1 DrChrono Company Details
12.1.2 Company Description and Business Overview
12.1.3 Medical Billing Service Introduction
12.1.4 DrChrono Revenue in Medical Billing Service Business (2014-2019))
12.1.5 DrChrono Recent Development
12.2 CareCloud
12.2.1 CareCloud Company Details
12.2.2 Company Description and Business Overview
12.2.3 Medical Billing Service Introduction
12.2.4 CareCloud Revenue in Medical Billing Service Business (2014-2019)
12.2.5 CareCloud Recent Development
12.3 AdvancedMD
12.3.1 AdvancedMD Company Details
12.3.2 Company Description and Business Overview
12.3.3 Medical Billing Service Introduction
12.3.4 AdvancedMD Revenue in Medical Billing Service Business (2014-2019)
12.3.5 AdvancedMD Recent Development
12.4 ClaimCare
12.4.1 ClaimCare Company Details
12.4.2 Company Description and Business Overview
12.4.3 Medical Billing Service Introduction
12.4.4 ClaimCare Revenue in Medical Billing Service Business (2014-2019)
12.4.5 ClaimCare Recent Development
12.5 Kareo
12.5.1 Kareo Company Details
12.5.2 Company Description and Business Overview
12.5.3 Medical Billing Service Introduction
12.5.4 Kareo Revenue in Medical Billing Service Business (2014-2019)
12.5.5 Kareo Recent Development
12.6 BillingParadise
12.6.1 BillingParadise Company Details
12.6.2 Company Description and Business Overview
12.6.3 Medical Billing Service Introduction
12.6.4 BillingParadise Revenue in Medical Billing Service Business (2014-2019)
12.6.5 BillingParadise Recent Development
12.7 Auctus Group
12.7.1 Auctus Group Company Details
12.7.2 Company Description and Business Overview
12.7.3 Medical Billing Service Introduction
12.7.4 Auctus Group Revenue in Medical Billing Service Business (2014-2019)
12.7.5 Auctus Group Recent Development
12.8 Clinical Info Solutions
12.8.1 Clinical Info Solutions Company Details
12.8.2 Company Description and Business Overview
12.8.3 Medical Billing Service Introduction
12.8.4 Clinical Info Solutions Revenue in Medical Billing Service Business (2014-2019)
12.8.5 Clinical Info Solutions Recent Development
12.9 Human Medical Billing
12.9.1 Human Medical Billing Company Details
12.9.2 Company Description and Business Overview
12.9.3 Medical Billing Service Introduction
12.9.4 Human Medical Billing Revenue in Medical Billing Service Business (2014-2019)
12.9.5 Human Medical Billing Recent Development
12.10 InSync Healthcare Solutions
12.10.1 InSync Healthcare Solutions Company Details
12.10.2 Company Description and Business Overview
12.10.3 Medical Billing Service Introduction
12.10.4 InSync Healthcare Solutions Revenue in Medical Billing Service Business (2014-2019)
12.10.5 InSync Healthcare Solutions Recent Development
12.11 Iris Medical
12.12 ChartLogic
12.13 CRT Medical Systems
12.14 Nuesoft Technologies
12.15 GroupOne

13 Market Forecast 2019-2025
13.1 Market Size Forecast by Product (2019-2025)
13.2 Market Size Forecast by Application (2019-2025)
13.3 Market Size Forecast by Regions
13.4 North America
13.5 Europe
13.6 China
13.7 Japan
13.8 Southeast Asia
13.9 India
13.10 Central & South America

14 Analyst's Viewpoints/Conclusions

15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.1.1 Research Programs/Design
15.1.1.2 Market Size Estimation
15.1.1.3 Market Breakdown and Data Triangulation
15.1.2 Data Source
15.1.2.1 Secondary Sources
15.1.2.2 Primary Sources
15.2 Disclaimer
15.3 Author Details

List of Table
List of Tables and Figures

Table Medical Billing Service Key Market Segments
Table Key Players Medical Billing Service Covered
Table Global Medical Billing Service Market Size Growth Rate by Type 2018-2025 (Million US$)
Figuer On-premise Figures
Table Key Players of On-premise
Figuer Cloud Based Figures
Table Key Players of Cloud Based
Table Global Medical Billing Service Market Size Growth by Application 2019-2025 (Million US$)
Figure Global Medical Billing Service Market Share by Application in 2018 & 2025
Figure Clinical Case Studies
Figure Operations Case Studies
Figure Pharmacy Case Studies
Figure Other Case Studies
Figure Medical Billing Service Report Years Considered
Figure Global Medical Billing Service Market Size and Growth Rate 2014-2025 (Million US$)
Table Global Medical Billing Service Market Size by Regions 2019-2025 (Million US$)
Table Global Medical Billing Service Market Size by Regions 2019-2025 (Million US$)
Table Global Medical Billing Service Market Share by Regions 2014-2019
Figure Global Medical Billing Service Market Share by Regions 2014-2019
Figure Global Medical Billing Service Market Share by Regions in 2018
Table Market Top Trends
Table Key Drivers: Impact Analysis (2019-2025)
Table Key Challenges
Figure PORTER'S FIVE FORCES ANALYSIS
Table Global Medical Billing Service Revenue by by Players (2014-2019) (Million US$)
Table Global Medical Billing Service Market Share by by Players (2014-2019)
Figure Global Medical Billing Service Market Share by by Players in 2018
Table Global Medical Billing Service by Players Market Concentration Ratio (CR5 and HHI)
Table Key Players Head office and Area Served
Table Key Players Medical Billing Service Product/Solution/Service
Table Date of Enter into Medical Billing Service Market
Table Mergers & Acquisitions, Expansion Plans
Table Global Medical Billing Service Market Size by Type (2014-2019) (Million US$)
Table Global Medical Billing Service Market Size Share by Type (2014-2019)
Figure Global Medical Billing Service Market Size Market Share by Type (2014-2019)
Table Global Medical Billing Service Market Size by Application (2014-2019) (Million US$)
Table Global Medical Billing Service Market Size Share by Application (2014-2019)
Figure Global Medical Billing Service Market Size Market Share by Application (2014-2019)
Figure Global Medical Billing Service Revenue Market Share by Application in 2018
Figure North America Medical Billing Service Market Size 2014-2019 (Million US$)
Table North America Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table North America Key Players Medical Billing Service Market Share (2018-2019)
Table North America Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table North America Medical Billing Service Market Share by Type 2014-2019
Table North America Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table North America Medical Billing Service Market Share by Application 2014-2019
Figure Europe Medical Billing Service Market Size 2014-2019 (Million US$)
Table Europe Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table Europe Key Players Medical Billing Service Market Share (2018-2019)
Table Europe Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table Europe Medical Billing Service Market Share by Type 2014-2019
Table Europe Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table Europe Medical Billing Service Market Share by Application 2014-2019
Figure China Medical Billing Service Market Size 2014-2019 (Million US$)
Table China Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table China Key Players Medical Billing Service Market Share (2018-2019)
Table China Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table China Medical Billing Service Market Share by Type 2014-2019
Table China Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table China Medical Billing Service Market Share by Application 2014-2019
Figure Japan Medical Billing Service Market Size 2014-2019 (Million US$)
Table Japan Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table Japan Key Players Medical Billing Service Market Share (2018-2019)
Table Japan Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table Japan Medical Billing Service Market Share by Type 2014-2019
Table Japan Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table Japan Medical Billing Service Market Share by Application 2014-2019
Figure Southeast Asia Medical Billing Service Market Size 2014-2019 (Million US$)
Table Southeast Asia Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table Southeast Asia Key Players Medical Billing Service Market Share (2018-2019)
Table Southeast Asia Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table Southeast Asia Medical Billing Service Market Share by Type 2014-2019
Table Southeast Asia Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table Southeast Asia Medical Billing Service Market Share by Application 2014-2019
Figure India Medical Billing Service Market Size 2014-2019 (Million US$)
Table India Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table India Key Players Medical Billing Service Market Share (2018-2019)
Table India Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table India Medical Billing Service Market Share by Type 2014-2019
Table India Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table India Medical Billing Service Market Share by Application 2014-2019
Figure Central & South America Medical Billing Service Market Size 2014-2019 (Million US$)
Table Central & South America Key Players Medical Billing Service Revenue (2018-2019) (Million US$)
Table Central & South America Key Players Medical Billing Service Market Share (2018-2019)
Table Central & South America Medical Billing Service Market Size by Type 2014-2019 (Million US$)
Table Central & South America Medical Billing Service Market Share by Type 2014-2019
Table Central & South America Medical Billing Service Market Size by Application 2014-2019 (Million US$)
Table Central & South America Medical Billing Service Market Share by Application 2014-2019
Table DrChrono Company Details
Table DrChrono Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure DrChrono Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table DrChrono Recent Development
Table CareCloud Company Details
Table CareCloud Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure CareCloud Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table CareCloud Recent Development
Table AdvancedMD Company Details
Table AdvancedMD Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure AdvancedMD Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table AdvancedMD Recent Development
Table ClaimCare Company Details
Table ClaimCare Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure ClaimCare Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table ClaimCare Recent Development
Table Kareo Company Details
Table Kareo Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure Kareo Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table Kareo Recent Development
Table BillingParadise Company Details
Table BillingParadise Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure BillingParadise Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table BillingParadise Recent Development
Table Auctus Group Company Details
Table Auctus Group Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure Auctus Group Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table Auctus Group Recent Development
Table Clinical Info Solutions Company Details
Table Clinical Info Solutions Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure Clinical Info Solutions Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table Clinical Info Solutions Recent Development
Table Human Medical Billing Company Details
Table Human Medical Billing Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure Human Medical Billing Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table Human Medical Billing Recent Development
Table InSync Healthcare Solutions Company Details
Table InSync Healthcare Solutions Revenue in Medical Billing Service Business 2014-2019 (Million US$)
Figure InSync Healthcare Solutions Revenue Growth Rate in Medical Billing Service Business (2014-2019)
Table InSync Healthcare Solutions Recent Development
Table Iris Medical Company Details
Table ChartLogic Company Details
Table CRT Medical Systems Company Details
Table Nuesoft Technologies Company Details
Table GroupOne Company Details
Table Global Medical Billing Service Market Size by Regions (Million US$) 2019-2025
Figure Global Medical Billing Service Market Size Share by Regions (2019-2025)
Figure Global Medical Billing Service Market Size Share by Regions in 2025
Figure North America Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure Europe Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure China Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure Japan Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure Southeast Asia Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure India Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Figure Central & South America Medical Billing Service Market Size Forecast (2019-2025)(Million USD)
Table Global Medical Billing Service Market Size by Product (2019-2025) (Million US$)
Figure Global Medical Billing Service Market Size by Product (2019-2025)
Figure Global Medical Billing Service Market Size by Product in 2025
Table Global Medical Billing Service Market Size by Application (2019-2025) (Million US$)
Figure Global Medical Billing Service Market Size by Application (2019-2025)
Figure Global Medical Billing Service Market Size by Application in 2025
Table Research Programs/Design for This Report
Figure Bottom-up and Top-down Approaches for This Report
Figure Data Triangulation
Table Key Data Information from Secondary Sources
Table Key Data Information from Primary Sources

 



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