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Medical billing outsourcing market to total $16.9B by 2024 — 6 highlights

The medical billing outsourcing market is expected to expand through 2024, a Grand View Research report found.

Here are six highlights:

1. Last year, the market was valued at $6.3 billion.

2. The medical billing outsourcing market is projected to hit $16.9 billion by 2024.

3. In 2015, 95 percent of independent physicians reported outsourcing revenue management is the right decision.

4. However, barriers to market growth include difficulty to adhere to ICD-10, falling reimbursement and escalating healthcare costs.

5. North America has the highest revenue growth due to changing U.S. healthcare infrastructure and more government pressure for facilities to use electronic medical records.

6. Market players include Accretive Health, Allscripts, Cerner, EClinicalWorks, Experian Information Solutions, GE Healthcare, Genpact, HCL, Kareo, McKesson, Quest Diagnostics and The SSI Group.

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