Global Medical Billing Market size to exhibit a CAGR of 6.5% between 2017 and 2023.
Medical billing market is expected to witness enhanced growth due to rising expenditure in healthcare and increasing research & development (R) in the healthcare sector.
Increased need for risk and compliance management is also pushing the market growth.
Other factors contributing to the global medical billing market growth include increasing role of information technology (IT) in the healthcare sector, increasing the use of the internet, demand for more efficient payment process, increasing patient population due to various diseases, and increasing digitalization in healthcare industry.
Institutional billing is the term used for describing the billing of claims generated for work performed by hospitals, skilled nursing facilities, and many other institutions for inpatient services as well as outpatient services.
Medical Billing Market Regional Insights: