IMARC Group has recently released a new research study “Healthcare claims management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Healthcare Claims Management Industry?
The global healthcare claims management market size reached US$ 13.03 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 22.4 Billion by 2027, exhibiting a growth rate (CAGR) of 9.20% during 2022-2027.
What Is A Healthcare Claims Management?
Healthcare claims management represents solutions that include optimizing, updating, filing, and processing medical claims related to a patient's treatment, diagnosis, and medications. They can be categorized into integrated and standalone variants and comprise of clinical billing software, healthcare practice management software, revenue cycle management software, etc. which are available to payers, insurance companies, and healthcare providers.
Healthcare claims management services offer an accurate and quick process to resolve claims as quickly as possible, streamline the medical claims process, ease the relationship among providers and insurance companies, improve patient payment processes, etc. As a result, they find extensive applications in the healthcare sectors across the globe.
What Are The Key Factors Driving In The Healthcare Claims Management Market?
The growing geriatric population and the rising number of individuals suffering from chronic diseases are among the key factors driving the healthcare claims management market. In addition to this, the elevating complexity of claims administration and the medical billing procedures and the escalating awareness about the management of claim denials are acting as significant growth-inducing factors.Apart from this, the shifting preferences toward cloud-based and web-based operation modes in healthcare software are also positively influencing the global market. Moreover, the launch of several initiatives by the government bodies across the globe aimed at enhancing insurance coverage is further stimulating the market growth.
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Besides this, the increasing mergers and acquisitions (M&As) among leading market players, the launch of new product, the expanding urbanization, and the inflating investments in medical research and development (R&D) activities are expected to propel the healthcare claims management market over the forecasted period.
Who Are The Key Players/Companies In Healthcare Claims Management Market?
Accenture plc, Allscripts Healthcare Solutions Inc., Athenahealth, Carecloud Inc, Cognizant, Conifer Health Solutions (Tenet Healthcare Corporation), Mckesson Corporation, Optum Inc. (UnitedHealth Group Incorporated), Oracle Corporation, Plexis Healthcare Systems, Quest Diagnostics and The SSI Group LLC.
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