Global medical billing outsourcing market could hit US$16.3bn

The global market for medical billing outsourcing is expected to reach a value of US$16.3 billion by 2025, up from just US$7.6 billion in 2018, on the back of the rising geographical reach of major companies through partnerships and M&As, according to a Zion Market Research report.

Medical billing outsourcing involves the hiring of a third-party company to do billing processes for medical treatments. This process allows medical firms and hospitals to focus on medical treatment and other important services while streamlining the complex billing process.

Some key players in the medical billing outsourcing market are McKesson Corporation, Allscripts, Genpact, Cerner Corporation, eClinicalWorks, Accretive Health, GE Healthcare, Experian Information Solutions, HCL, Kareo, Quest Diagnostics, and The SSI Group.

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