U.S. Medical Billing Outsourcing Market is poised to reach USD 7.8 billion by 2026
12-mar-2019 The U.S. medical billing outsourcing market exhibiting a CAGR of 11.0% during the forecast period. Increasing population of baby boomers and rising chronic diseases among young generation are resulting in widened base of patients in the country. Furthermore, growing burden on revenues & profits, declining Medicare payments, and mounting billing volumes are leading to need to decrease in-house processing costs. Therefore, hospitals are increasingly outsourcing their billing activities. The challenge mounts when billing process mandates adherence to the International Classification of Diseases-10th revision (ICD-10) code along with dealing with rising healthcare costs and declining reimbursements. Challenges in managing in-house billing processes include setbacks experienced in IT structure, untrained staff, billing errors, and lack of proper financial policy in place. In order to curb or alleviate these challenges, several healthcare providers, such as acute care ...