Medical Billing Market Research Report - Forecast to 2027

Medical Billing Market Share, Trends and Growth Analysis By Type (Professional Billing, Institutional Billing), Application (Database Management, Financial, Infrastructure, Operational) Process (Electronic Billing, Payment And Medical Billing Services) - Global Forecast Till 2027

ID: MRFR/HCIT/0517-HCR | February 2021 | Region: Global | 80 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data

Market Scenario:


Medical billing is payment practice which involves receiving payments, submitting bills and following up for payments. Factors that influence the growth of medical billing are, increasing expenditure in healthcare, increasing use of internet, increased need for risk and compliance management, increasing digitalization in healthcare industry and many more. Increasing use of Information technology in maximum sectors will also boost the growth of this market. Increasing patient population due to various diseases, payment process involved in medical billing will be more efficient which in turn will boost the growth of the market and medical billing improves cash flow resulting increase in the growth of the market. On the other hand, privacy concerns are the major factor which may hinder the growth of the market. The global medical billing market is expected to grow at a CAGR of 6.5% during forecasted period 2017-2023.


Market Assessment


 Market Assessment


Annual reports, World Health Organization (WHO), White paper, Company Presentation


Segmentation


Global medical billing is segmented by its type, by applications and by process. On the basis of type, it is segmented into professional billing and institutional billing. On the basis of applications, it is segmented into database management, financial, infrastructure, operational. And on the basis of process, it is segmented into electronic billing, payment and medical billing services


Intended Audience



  • Research and Development (R&D) Companies



  • Government and Independent Research Laboratories

  • Manufacturers and suppliers in billing devices

  • Government and Independent Regulatory Authorities

  • Academic Medical Institutes and Universities


Figure 1- Global Medical Billing Market Share, By Application (%)


 Medical Billing Market Share


Annual reports, Press release, White paper, Company Presentation


Regional Analysis


On regional basis, the market is segmented into America, Europe, Asia Pacific and Middle East & Africa. America commands the largest market due to extensive growth of the information technology industry. Increasing industrialization and increase in healthcare industry, are factors driving the growth of the market. 


Europe is the second largest market for medical billing market followed by Asia Pacific. Owing to the availability of funds for research and development activities and growing emphasis on transparent billing methods.


Asia Pacific shows the fastest growth in this market due to an increase in prevalence of communicable diseases resulting increase in patient population. Particularly, India and China are expected to be emerging and the fastest growing market.


Middle East & Africa has the lowest market for medical billing due to lack of technical knowledge and poor medical facilities. 


Key Players for medical billing market


Accenture (US), TCS (India), AGS Health (India), Cognizant Technology Solutions (US), GeBBS Healthcare (US), Genpact (US), HCL Technologies (India), INFINIT Healthcare, Medusind (India) and others.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   6.5% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, Process, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Accenture (US), TCS (India), AGS Health (India), Cognizant Technology Solutions (US), GeBBS Healthcare (US), Genpact (US), HCL Technologies (India), INFINIT Healthcare, Medusind (India) and others.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increasing expenditure in healthcare
  • increasing use of internet
  • Increased need for risk and compliance management
  • Increasing digitalization in healthcare industry


  • Frequently Asked Questions (FAQ) :


    Global Medical Billing Market is expected to expand at 6.5% CAGR from 2017 to 2023.

    Increased digitization in healthcare followed by the increased use of the Internet are major growth drivers of the Global Medical Billing Market.

    Privacy concerns pertaining to patient data can hamper the Global Medical Billing Market.

    Database management can hold the largest share in the Global Medical Billing Market.

    AGS Health, HCL Technologies, GeBBS Healthcare, TCS, Accenture, Cognizant Technology Solutions, Genpact, Medusind, and INFINIT Healthcare are key players of the Global Medical Billing Market.

    Table of Contents

    1 Report Prologue

    2 Market Introduction

    2.1 Introduction

    2.2 Scope of Study

    2.3 Research Objective

    2.4 Assumptions & Limitations

    2.4.1 Assumptions

    2.4.2 Limitations

    3 Research Methodology

    3.1 Research Process

    3.2 Primary Research

    3.3 Secondary Research

    4 Market Dynamics

    4.1 Drivers

    4.2 Restraints

    5 Market Factor Analysis

    5.1 Porter’s Five Forces Model

    5.1.1 Bargaining Power of Suppliers

    5.1.2 Bargaining Power of Buyers

    5.1.3 Threat of New Entrants

    5.1.4 Threat of Substitutes

    5.1.5 Intensity of Rivalry

    5.2 Supply Chain Analysis

    6. Global Medical Billing Market, By Type

    6.1 Professional billing

    6.2 Institutional billing

    7. Global Medical Billing Market, By Application

    7.1 Database Management

    7.2 Financial

    7.3 Infrastructure

    7.4 Operational

    8. Global Medical Billing Market, By Process

    8.1 Electronic billing

    8.2 Payment

    8.3 Medical billing services

    9. Global Medical Billing Market, by Region

    9.1 Introduction

    9.2 America

    9.2.1 North America

    9.2.1.1 US

    9.2.1.2 Canada

    9.2.2 South America

    9.3 Europe

    9.3.1 Western Europe

    9.3.1.1 Germany

    9.3.1.2 UK

    9.3.1.3 France

    9.3.1.4 Italy

    9.3.1.5 Spain

    9.3.1.6 Rest of Western Europe

    9.3.2 Eastern Europe

    9.4 Asia Pacific

    9.4.1 Japan

    9.4.2 China

    9.4.3 India

    9.4.4 Australia

    9.4.5 Republic of Korea

    9.4.6 Rest of Asia Pacific

    9.5 Middle East & Africa

    9.5.1 United Arab Emirates

    9.5.2 Saudi Arabia

    9.5.3 Oman

    9.5.4 Kuwait

    9.5.5 Qatar

    9.5.6 Rest of Middle East & Africa

    10 Competitive Landscape

    10.1 Cost of Products

    10.2 Production Capacity of Major Players

    11 Company Profile

    11.1 Accenture

    11.1.1 Overview

    11.1.2 Product/Business Segment Overview

    11.1.3 Financial Updates

    11.1.4 Key Developments

    11.2 TCS

    11.2.1 Overview

    11.2.2 Product/Business Segment Overview

    11.2.3 Financial Updates

    11.2.4 Key Developments

    11.3 AGS Health

    11.3.1 Overview

    11.3.2 Product/Business Segment Overview

    11.3.3 Financial Updates

    11.3.4 Key Development

    11.4 Cognizant Technology Solutions

    11.4.1 Overview

    11.4.2 Product/Business Segment Overview

    11.4.3 Financial Updates

    11.4.4 Key Development

    11.5 GeBBS Healthcare

    11.5.1 Overview

    11.5.2 Product/Business Segment Overview

    11.5.3 Financial Updates

    11.5.4 Key Developments

    11.6 Genpact

    11.6.1 Overview

    11.6.2 Product/Business Segment Overview

    11.6.3 Financial Updates

    11.6.4 Key Developments

    11.7 HCL Technologies

    11.7.1 Overview

    11.7.2 Product/Business Segment Overview

    11.7.3 Financial Updates

    11.7.4 Key Developments

    11.8 INFINIT Healthcare

    11.8.1 Overview

    11.8.2 Product/Business Segment Overview

    11.8.3 Financial Updates

    11.8.4 Key Developments

    11.9 Medusind

    11.9.1 Overview

    11.9.2 Product/Business Segment Overview

    11.9.3 Financial Updates

    11.9.4 Key Developments

    11.9 Others

    12 Conclusion

    12.1 Key Findings

    12.1.1 From CEO’s Viewpoint

    12.1.2 Unmet Needs of the Market

    12.2 Key Companies to Watch

    12.3 Prediction of Healthcare IT Industry

    13 Appendix

    LIST OF TABLES

    Table 1 Medical Billing Industry Synopsis, 2020–2027

    Table 2 Global Medical Billing Market Estimates & Forecast, 2020–2027, (USD Million)

    Table 3 Global Medical Billing Market, by Region, 2020–2027, (USD Million)

    Table 4 Global Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 5 Global Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 6 Global Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 7 Americas Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 8 Americas Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 9 Americas Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 10 North America Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 11 North America Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 12 North America Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 13 South America Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 14 South America Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 15 South America Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 16 Europe Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 17 Europe Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 18 Europe Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 19 Western Europe Medical Billing Market by Type, 2020–2027, (USD Million)

    Table 20 Western Europe Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 21 Western Europe Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 22 Eastern Europe Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 23 Eastern Europe Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 24 Eastern Europe Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 25 Asia Pacific Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 26 Asia Pacific Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 27 Asia Pacific Medical Billing Market, by Process, 2020–2027, (USD Million)

    Table 28 Middle East & Africa Medical Billing Market, by Type, 2020–2027, (USD Million)

    Table 29 Middle East & Africa Medical Billing Market, by Application, 2020–2027, (USD Million)

    Table 30 Middle East & Africa Medical Billing Market, by Process, 2020–2027, (USD Million) 

    LIST OF FIGURES

    Figure 1 Research Process

    Figure 2 Segmentation for Global Medical Billing Market

    Figure 3 Segmentation Market Dynamics for Medical Billing Market

    Figure 4 Global Medical Billing Market Share, by Type 2020

    Figure 5 Global Medical Billing Market Share, by Application 2020

    Figure 6 Global Medical Billing Market Share, by Process, 2020

    Figure 7 Global Medical Billing Market Share, by Region, 2020

    Figure 8 Americas Medical Billing Market Share, by Country, 2020

    Figure 9 Europe Medical Billing Market Share, by Country, 2020

    Figure 10 Asia Pacific Medical Billing Market Share, by Country, 2020

    Figure 11 Middle East & Africa Medical Billing Market Share, by Country, 2020

    Figure 12 Global Medical Billing Market: Company Share Analysis, 2020 (%)