by: Karen Cayamanda
Thursday, February 11, 2016 | Outsourcing News |
From 2014 to 2019, the global medical billing outsourcing market is predicted to post a compound annual growth rate (CAGR) of 9.29%. This is according to the report "Global Medical Billing Outsourcing Market 2015-2019" by Market Research Store.
This market growth could be attributed to increased healthcare spending worldwide, in developed countries where there is an aging population and a lower fertility rate. The increase could also be seen in emerging countries where infrastructure is not enough, and there is an increase in chronic diseases as well as lack of equality when it comes to availability of patient care.
Healthcare enterprises rely heavily on the internet and technology for their daily operations. This will be the trend and will intensify, leading to IT departments having a more significant role in the medical billing outsourcing market. With greater need for risk and compliance management, increasing cost pressures, and other concerns, healthcare enterprises lean towards outsourcing that gives them agility and control. Outsourcing also enables them to better manage cash flow and gain more ROI.
The report also cited key vendors of the medical billing outsourcing market: Accenture, AGS Health, Cognizant Technology Solutions, GeBBS Healthcare, Genpact, HCL Technologies, and Medusind.
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