Healthcare organizations are utilizing technology to improve the experience for both providers and patients by making it easier for them to deliver and consume healthcare. Technology in the medical billing space is evolving, helping billing and administrative professionals streamline their processes and capitalize on reimbursements.
According to Market Research Future, the medical billing market in the U.S. is expected to grow at a CAGR of 11.90 percent during the forecast period 2020-2030, reaching $31,020 million.
This growth can be attributed to the increased usage of technology in billing and coding operations to reduce repetitive tasks and enhance patient outcomes.
Incorporating robotic process automation (RPA) and data automation into billing has made healthcare organizations more efficient. Automation also enhances tasks like analyzing and processing claims payments and deciphering medical notes. Medical billing companies are integrating AI to improve efficiency and accuracy and gain a competitive edge.
Healthcare professionals are also utilizing blockchain to process transactions faster and provide a secure way of accounting. Technological solutions, such as payment wallets and gateways, are being used to improve the payment collection process.
This edition of Healthcare Business Review highlights the recent developments in the medical billing arena and insights into how businesses are aligning with these trends to transform legacy practices.
We have curated thought leadership articles from industry experts, including the Informatics Medical Director of Intermountain Healthcare and the Medical Director of UAMS. We also took a deep dive into the market trends to narrow down the list of companies delivering robust medical billing solutions. Equipped with innovative technological capabilities, solution providers like Precyse Coding Solutions and Performance Medical Management help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Healthcare Business Review on medical billing helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
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