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Medical Document Management Systems Market Size, Share & Trends Analysis Report By Product (Solution, Service), By Application (On-Premise, Cloud based), By Delivery Mode, By End Use, By Region, And Segment Forecasts, 2024 - 2030

September 2024 | 100 pages | ID: MF00FC538A5EN
Grand View Research, Inc.

US$ 5,950.00

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Medical Billing Software Market Growth & Trends

The global medical billing software market size is anticipated to reach USD 32.18 billion by 2030 and is anticipated to grow at a CAGR of 10.2% during the forecast period, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases, growing geriatric population, and the need for regulatory compliant sophisticated healthcare management solutions powered with advanced technologies are factors driving market growth. Moreover, the growing demand for telemedicine services is expected to fuel market growth further.

The shift from fee-for-service to value-based care models is a significant factor driving the growth of the market. As healthcare organizations increasingly prioritize patient outcomes over the quantity of services provided, there is a growing need for advanced billing solutions to handle complex reimbursement arrangements. This shift encourages software developers to continuously innovate, enhancing functionalities to meet value-based care requirements. For instance, in February 2024, companies like Anatomy Financial, a medical billing service provider, announced the launch of artificial intelligence (AI) powered solutions for medical, dental, digital health, and healthcare billing companies.

In addition, medical billing software plays a crucial role in the healthcare industry, specifically in revenue cycle management (RCM). RCM encompasses the process of managing claims, payments, and revenue generation for healthcare providers. The software automates various tasks such as patient registration, insurance verification, coding, billing, and payment processing. By streamlining these processes, medical billing software helps reduce errors and improve efficiency. For instance, in August 2022, Revesolv, a dental and medical RCM company, launched a medical accounting and reporting software for the U.S. market. Moreover, the adoption of AI and machine learning (ML) is anticipated to enhance predictive analytics capabilities within RCM processes.

Medical Billing Software Market Report Highlights
  • Based on billing type, the institutional billing segment dominated the market in 2023, owing to the regulatory changes mandating transparency in pricing.
  • Based on deployment mode, the web-based segment dominated the market with the largest revenue share of in 2023 due to enhanced accessibility and cost-effectiveness.
  • The cloud-based segment is expected to register growth at the fastest CAGR over the forecast period as cloud solutions often come with built-in compliance features that reduce the burden on healthcare providers.
  • Based on end use, the healthcare providers segment dominated the market with the largest share in 2023, attributed to the growing adoption of advanced billing solutions to streamline the revenue cycle management processes.
  • North America region held the largest market share in 2023, owing to the presence of major market players, widespread adoption of medical billing software, and technological advancements.
  • In April 2024, XpertDox collaborated with Positive Results Billing to launch XpertCoding, an AI-powered medical coding platform, to enhance RCM efficiency.
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
  1.3.1. Information Procurement
  1.3.2. Information or Data Analysis
  1.3.3. Market Formulation & Data Visualization
  1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
  1.4.1. List of Data Sources

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

CHAPTER 3. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET VARIABLES, TRENDS, & SCOPE

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
  3.3.1. Market Drivers Analysis
  3.3.2. Market Restraints Analysis
3.4. Medical Document Management Systems Market Analysis Tools
  3.4.1. Porter’s Analysis
    3.4.1.1. Bargaining power of the suppliers
    3.4.1.2. Bargaining power of the buyers
    3.4.1.3. Threats of substitution
    3.4.1.4. Threats from new entrants
    3.4.1.5. Competitive rivalry
  3.4.2. PESTEL Analysis
    3.4.2.1. Political landscape
    3.4.2.2. Economic and Social landscape
    3.4.2.3. Technological landscape
    3.4.2.4. Environmental landscape
    3.4.2.5. Legal landscape

CHAPTER 4. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS

4.1. Segment Dashboard
4.2. Medical Document Management Systems Market: Product Movement Analysis, 2024 & 2030 (USD Million)
4.3. Solution
  4.3.1. Solution Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Service
  4.4.1. Service Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 5. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET: DELIVERY MODE ESTIMATES & TREND ANALYSIS

5.1. Segment Dashboard
5.2. Medical Document Management Systems Market: Delivery Mode Movement Analysis, 2024 & 2030 (USD Million)
5.3. On-Premise
  5.3.1. On-Premise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Cloud Based
  5.4.1. Cloud Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Web Based
  5.5.1. Web Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 6. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

6.1. Segment Dashboard
6.2. Medical Document Management Systems Market: Application Movement Analysis, 2024 & 2030 (USD Million)
6.3. Patient Medical Record Management
  6.3.1. Patient Medical Record Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Admission & Registration Document Management
  6.4.1. Admission & Registration Document Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Patient Billing Document Management
  6.5.1. Patient Billing Document Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 7. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET: END USE ESTIMATES & TREND ANALYSIS

7.1. Segment Dashboard
7.2. Medical Document Management Systems Market: End Use Movement Analysis, 2024 & 2030 (USD Million)
7.3. Hospitals & Clinics
  7.3.1. Hospitals & Clinics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Nursing Homes
  7.4.1. Nursing Homes Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Healthcare Payers
  7.5.1. Healthcare Payers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Others
  7.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 8. MEDICAL DOCUMENT MANAGEMENT SYSTEMS MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

8.1. Medical Document Management Systems Market Share, By Region, 2024 & 2030, USD Million
8.2. North America
  8.2.1. North America Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.2.2. U.S.
    8.2.2.1. U.S. Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.2.3. Canada
    8.2.3.1. Canada Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.2.4. Mexico
    8.2.4.1. Mexico Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3. Europe
  8.3.1. Europe Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.2. UK
    8.3.2.1. UK Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.3. Germany
    8.3.3.1. Germany Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.4. France
    8.3.4.1. France Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.5. Spain
    8.3.5.1. Spain Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.6. Italy
    8.3.6.1. Italy Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.7. Sweden
    8.3.7.1. Sweden Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.3.8. Norway
    8.3.8.1. Norway Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4. Asia Pacific
  8.4.1. Asia Pacific Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.2. China
    8.4.2.1. China Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.3. Japan
    8.4.3.1. Japan Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.4. India
    8.4.4.1. India Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.5. South Korea
    8.4.5.1. South Korea Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.6. Australia
    8.4.6.1. Australia Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.4.7. Thailand
    8.4.7.1. Thailand Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5. Latin America
  8.5.1. Latin America Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.5.2. Brazil
    8.5.2.1. Brazil Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.5.3. Argentina
    8.5.3.1. Argentina Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6. Middle East and Africa
  8.6.1. Middle East and Africa Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.6.2. Saudi Arabia
    8.6.2.1. Saudi Arabia Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.6.3. UAE
    8.6.3.1. UAE Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.6.4. Kuwait
    8.6.4.1. Kuwait Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
  8.6.5. South Africa
    8.6.5.1. South Africa Medical Document Management Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 9. COMPETITIVE LANDSCAPE

9.1. Recent Developments & Impact Analysis by Key Market Participants
9.2. Company Categorization
9.3. Company Heat Map Analysis
9.4. Company Profiles
  9.4.1. 3M
    9.4.1.1. Participant’s Overview
    9.4.1.2. Financial Performance
    9.4.1.3. Product Benchmarking
    9.4.1.4. Recent Developments/ Strategic Initiatives
  9.4.2. Veradigm LLC
    9.4.2.1. Participant’s Overview
    9.4.2.2. Financial Performance
    9.4.2.3. Product Benchmarking
    9.4.2.4. Recent Developments/ Strategic Initiatives
  9.4.3. Athenahealth, Inc
    9.4.3.1. Participant’s Overview
    9.4.3.2. Financial Performance
    9.4.3.3. Product Benchmarking
    9.4.3.4. Recent Developments/ Strategic Initiatives
  9.4.4. Oracle
    9.4.4.1. Participant’s Overview
    9.4.4.2. Financial Performance
    9.4.4.3. Product Benchmarking
    9.4.4.4. Recent Developments/ Strategic Initiatives
  9.4.5. Siemens
    9.4.5.1. Participant’s Overview
    9.4.5.2. Financial Performance
    9.4.5.3. Product Benchmarking
    9.4.5.4. Recent Developments/ Strategic Initiatives
  9.4.6. GE Healthcare
    9.4.6.1. Participant’s Overview
    9.4.6.2. Financial Performance
    9.4.6.3. Product Benchmarking
    9.4.6.4. Recent Developments/ Strategic Initiatives
  9.4.7. Kofax Ltd
    9.4.7.1. Participant’s Overview
    9.4.7.2. Financial Performance
    9.4.7.3. Product Benchmarking
    9.4.7.4. Recent Developments/ Strategic Initiatives
  9.4.8. Epic Systemss Corporation
    9.4.8.1. Participant’s Overview
    9.4.8.2. Financial Performance
    9.4.8.3. Product Benchmarking
    9.4.8.4. Recent Developments/ Strategic Initiatives


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