![]() ![]() Medical billing involves revenue cycle management, which is the most complex and important component of the healthcare IT business. ![]() To counter such a situation, hospitals are outsourcing the clinical billing process which is expected to drive the growth of the market for medical billing outsourcing. The rising patient load and the need to address the ever-growing record and bills are creating a burden on health practitioners. Increased medical costs, particularly in industrialized nations, have resulted in continuous advancements in the field, allowing for greater adoption of modern technology devices and equipment, such as RCM software. Medical billing outsourcing improves cash flow, lowers software and equipment expenses, and reduces employee costs and size.ĭue to the rising use of IT resources in the healthcare business and steady government support, the market for medical billing outsourcing is growing at a substantial rate. ![]() ![]() New trends have emerged due to new technological solutions, bad debts, and bills, and expanding and changing regulatory requirements, all of which have contributed to the increased impact of healthcare claim outsourcing by many healthcare providers. The global medical billing outsourcing market size was valued at USD 11.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2022 to 2030. ![]()
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