Industry Background:
Medical billing systems is one of the boons received to the healthcare industry as it saves time for billing by using various software and electronic machine. These system easing the task of healthcare professionals. It includes receiving payment for services conducted such as testing, treatments, and procedures. It works on a small scale as well as large hospitals according to their need. Medical billing converts a healthcare service into a billing claim. The only disadvantage is it requires training and technical knowledge to understand software and machines working.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Accenture (Ireland), AGS Health (India), Cognizant Technology Solutions (United States), TCS (India), GeBBS Healthcare (United States), Genpact (United States), HCL Technologies (India), Infinit Healthcare (Philippines), Medusind (India), AdvancedMD, Inc (United States), Kareo (United States) and Athenahealth (United States) |
According to AMA, the market for Medical Billing Systems is expected to register a CAGR of 10.3% during the forecast period to 2030. This growth is primarily driven by Increasing Demand For Revenue Cycle Management.
Globally, a noticeable market trend is evident Advanced Software Are Used To Save Time And Easy Dealing With Operations Major Players, such as Accenture (Ireland), AGS Health (India), Cognizant Technology Solutions (United States), TCS (India), GeBBS Healthcare (United States), Genpact (United States), HCL Technologies (India), Infinit Healthcare (Philippines), Medusind (India), AdvancedMD, Inc (United States), Kareo (United States) and Athenahealth (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. With the growing medical coding and billing as IT and Software companies inventing new solutions, there is a huge demand in the market. The top leading firms have tough competition to acquire market share and to lead the market. The mergers and acquisitions are also open options to change strategic business and expand the power in the market.
Key Developments in the Market:
On 4th February 2020, Cognizant Solutions announced that it has entered into an agreement to acquire European Salesforce EI-Technologies a French company will grow its French business as well as European expansion.
On 12th February 2020, TCS (TATA CONSULTANCY SERVICES) launched its Cloud-based Jile 4.0 Platform which will enable the enterprise to customize their agile Transformation. It will access the software firms to manage and automate end-to-end software delivery.
Influencing Trend:
Advanced Software Are Used To Save Time And Easy Dealing With Operations
Market Growth Drivers:
Increasing Demand For Revenue Cycle Management
Challenges:
Training And Technical Knowledge Required To Handle Software And Electronic Machines
Restraints:
Not Yet Fully Adopted EHR(Electronic Health Records )
Opportunities:
Growing Appearance Of Digital And Information Technology In Healthcare Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Medical Billing Systems Market
- Analysis about New Entrants in Medical Billing Systems Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Medical Billing Systems Study Sheds Light on
The Medical Billing Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Billing Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Billing Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.