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
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
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 (%)
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 |
|
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 (%)