by: Karen Cayamanda
Thursday, August 20, 2015 |
According to the report "Global Medical Billing Outsourcing Market 2015-2019" posted at MedGadget.com, the medical billing outsourcing market is expected to grow at a compound annual growth rate (CAGR) of 9.29% by 2019.
Analysts see an increase in global healthcare spending which can be attributed to developed countries with an aging population and lower fertility rate. Emerging countries will likewise contribute to the growth of the market, with their lack of infrastructure, increase in cases of chronic diseases, and unequal opportunities or availability of patient care.
Technology and the internet play a significant role in the day-to-day operations of healthcare enterprises and as this is predicted to still hold true in the coming years, the IT departments will likewise play a huge role to keep the operations running.
Many healthcare enterprises find it difficult to handle their operations, particularly in providing services to their customers. Aside from this, the increasing costs, inefficient processes, increased need for risk and compliance management, and business goal alignment are factors that drive healthcare enterprises to outsource processes with both agility and control in mind. Outsourcing models that focus on these aspects help healthcare providers shift their finances from being cost-centric to profit-centric. This move enables them to achieve a balance in expenses and growth, decrease cash conversion cycle, improve sales, and help in maximizing the return on investment for a given period of time.
Key vendors in the market include Accenture, AGS Health, Cognizant Technology Solutions, GeBBS Healthcare, Genpact, HCL Technologies, and Medusind.
This report from Market Research Store is based on an in-depth market analysis and includes insights from the experts in the industry. Moreover, the report has information about the global medical billing outsourcing market landscape as well as its growth path in the near future.