Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "U.S. EMS Billing Services Market Size, Share & Trends Analysis Report by Component (Outsourced, In-House), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. EMS billing services market is poised for significant expansion, with an anticipated size of USD 4.0 billion by 2030. The growth trajectory is marked by a robust compound annual growth rate (CAGR) of 9.85% spanning from 2023 to 2030.
This growth is underpinned by advancements in billing software technology, which elevate process transparency, speed, and efficiency, resulting in heightened revenue generation. Additionally, the escalating frequency of emergency room (ER) visits and the proliferation of independent ER facilities are propelling demand for efficient management of payment sources and precise reimbursement processes.
Automated software enables billing companies to efficiently manage the information required for each claim. With features such as reporting, documentation, and analytics, these software applications enhance the transparency of the claims process, making it faster & more efficient. This improves the overall billing experience for clients and helps increase revenue by reducing delays and errors.
The rising number of Emergency Department (ED) visits and the emergence of independent freestanding ED facilities are expected to drive the growth of the emergency medical services (EMS) billing services market in the U.S.
In addition, the survey reveals that patients with Medicaid had the highest rate of ED visits compared to other payment sources, while patients with private insurance had the lowest visit rate. This disparity highlights the need for efficient billing services to manage the complexities associated with different payment sources and ensure accurate service reimbursement.
Key players are implementing various strategies like mergers & acquisitions, partnerships, expansions, and launching new services to expand their market presence. These efforts are expected to contribute to the market's growth. For instance, in September 2020, Change Healthcare introduced MedRx, a solution enabling convenient COVID-19 testing at local pharmacies.
MedRx allows pharmacies to efficiently process reimbursement for COVID-19 tests, streamlining the billing process such as prescription and flu shot claims.
U.S. EMS Billing Services Market Report Highlights
- Based on component, the outsourced segment held the largest market share of over 56.3% in 2022. By outsourcing, start-ups or companies undergoing transition can avoid the need for large initial investments in infrastructure, software, and staff training, which is expected to drive the segment growth
- The in-house component segment is expected to witness significant growth over the forecast period, as it enables healthcare providers to control and oversee their financial operations
- In March 2023, EMS Management & Consultants, Inc. and the PWW Advisory Group collaborated to invest in advanced solutions for EMS and mobile healthcare organizations across the U.S.
- In October 2022, Optum and Change Healthcare successfully merged. This partnership will integrate and streamline the essential clinical, administrative, and payment procedures relied upon by healthcare providers and payers to effectively serve patients
Company Profiles
- EMS Management & Consultants, Inc.
- Cvikota EMS
- Omni Medical Billing Service, Inc.
- Quick Med Claims, LLC.
- 911 Billing Services & Consultant, Inc.
- Change Healthcare
- PCC Ambulance Billing Service
- EMS Billing Management, LLC
- Pintler Billing Services
- AIM EMS Software & Services
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 59 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.9 billion |
| Forecasted Market Value (USD) by 2030 | $4 billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Outsourcing as a cost-effective option
3.3.1.2. Technological advancements for improved billing service
3.3.1.3. Increasing number of ED visits and independent emergency department
3.3.2. Market Restraint Analysis
3.3.2.1. High cost associated with a standard rate of collection
3.3.2.2. Cybersecurity threat for EMS billing software
3.3.2.3. Biased outcomes from in-house billing
3.4. Business Environment Analysis
3.4.1. PESTLE Analysis
3.4.2. Porter's Five Forces Analysis
3.5. Regulatory Framework
Chapter 4. Component Business Analysis
4.1. EMS Billing Services Market: Component Movement Analysis & Market Share, 2022 & 2030
4.2. Outsourced
4.3. In-house
Chapter 5. Competitive Landscape
5.1. Company Categorization
5.2. Strategy Mapping
5.2.1. Merger & Acquisitions
5.2.2. Collaborations & Partnerships
5.2.3. New Service Launches
For more information about this report visit https://www.researchandmarkets.com/r/qva8d8
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