The Dominance of the Medical Billing Software Market in North America Region

Fri, 22 May 2020 5:24

Globally the medical billing software market is witnessing substantial growth due to its reduced administrative error margin, reduced administrative expenses, and automated billing. The software application is experiencing a huge demand due to the rising duplicity of insurance claims as its smooth interoperability reduces it, further driving the market growth. In North America and Europe, the application is extensively used in multi-specialty, super-specialty, clinics, and pharma, and medical. Furthermore, digitization has transformed the healthcare sector as automation has led to improved efficiency and productivity, better decision making, and easy collaboration is driving its adoption across the globe However the rising cyber-crimes in the world and increasing malpractices has curbed the growth to a certain extent.

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Key Highlights

  • The medical billing market is expected to grow with a CAGR of 10.5% during the forecast period.2020-2029.
  • Lack of available staff for the management of the hospitals due to the pandemic to drive the growth of the market.
  • The solution segment maintains a massive share in the market.
  • North America dominates the medical billing software market on account of the rapid adoption of technology and the presence of leading market players
  • Europe is projected to witness significant growth in the medical billing software market due to the rising geriatric population, increasing investments, and favorable government regulations.

Key Players

  • AGS Health
  • HCL Technologies
  • GeBBS Healthcare
  • Cognizant Technology Solutions
  • Medusind
  • INFINIT Healthcare
  • Kareo
  • TheraBill
  • WebPT
  • TherapyNotes
  • athenaCollector
  • Practice Fusion
  • Brightree
  • General Electric
  • CentralReach
  • EZ Claim
  • AdvancedMD
  • NueMD
  • DrChrono
  • Phreesia
  • Azalea Health
  • ChARM Health

Medical Billing Software Market Segmentation

By Component

  • Solution
    • Revenue cycle management
    • Practice management
    • Claims management
  • Services
    • Professional services
    • Managed services

By Type

  • Professional billing
  • Institutional billing

By End-User

  • Multi-specialty hospitals
  • Super specialty hospitals
  • Clinics
  • Pharma and medical

By Deployment

  • On-premises
  • Cloud-based

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • The Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Australia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru
  • Argentina
  • The Rest of South America

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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