Medical billing systems is one of the boons received to the healthcare industry as it saves time for billing by using various software and electronic machine. These system easing the task of healthcare professionals. It includes receiving payment for services conducted such as testing, treatments, and procedures. It works on a small scale as well as large hospitals according to their need. Medical billing converts a healthcare service into a billing claim. The only disadvantage is it requires training and technical knowledge to understand software and machines working.This growth is primarily driven by Increasing Demand For Revenue Cycle Management.
Globally, a noticeable market trend is evident Advanced Software Are Used To Save Time And Easy Dealing With Operations. Major Players, such as Accenture (Ireland), AGS Health (India), Cognizant Technology Solutions (United States), TCS (India), GeBBS Healthcare (United States), Genpact (United States), HCL Technologies (India), Infinit Healthcare (Philippines), Medusind (India), AdvancedMD, Inc (United States), Kareo (United States) and Athenahealth (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 4th February 2020, Cognizant Solutions announced that it has entered into an agreement to acquire European Salesforce EI-Technologies a French company will grow its French business as well as European expansion.
On 12th February 2020, TCS (TATA CONSULTANCY SERVICES) launched its Cloud-based Jile 4.0 Platform which will enable the enterprise to customize their agile Transformation. It will access the software firms to manage and automate end-to-end software delivery.
- Increasing Demand For Revenue Cycle Management
- Advanced Software Are Used To Save Time And Easy Dealing With Operations
- Not Yet Fully Adopted EHR(Electronic Health Records )
Growing Appearance Of Digital And Information Technology In Healthcare Industry
Training And Technical Knowledge Required To Handle Software And Electronic Machines
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