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Global Medical Billing Outsourcing Market By Component, By Service, By End-use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027

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New York, Aug. 31, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Medical Billing Outsourcing Market By Component, By Service, By End-use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06131534/?utm_source=GNW
It helps the medical organizations, hospitals or clinics to focus in the core areas such as the treatment of the patients and the administration of the premises. It also helps in simplifying the complex accumulation process to cope up with the constant decrease in repayments to implement Health Insurance Portability and Accountability Act.

The increasing requirements for error-free and minimizing in-house processing costs are among the driving factors for the medical billing outsourcing market. There are many challenges faced by the healthcare providers to manage claims and reimbursements, which can lead to huge losses to the organizations. So, to decrease all these losses, organizations are increasingly adopting medical billing outsourcing that fuels the growth of the medical billing outsourcing market. Furthermore, the ever-changing healthcare rules & regulations and a federal mandate to keep a record of everything are projected to propel the demand for the medical billing outsourcing market.

Due to the increasing mergers, partnerships and acquisitions that took place in the healthcare sector; the medical billing process is getting more complicated. The increasing business activities have created a mess for the healthcare providers because patient information is mostly inaccurate, which cannot be shared with all stakeholders easily, and at time orders were not completed. Digital order management assists in tackling this challenge by serving health providers with automated separate clinical & financial information entry and integrated into one, easily available medical claims management system. Thus, the market is estimated to garner significant growth during the forecast period.

COVID-19 Impact

The outbreak of the global COVID-19 pandemic has positively impacted the growth of the medical billing outsourcing market. It is due to the increasing dominance of technology in the healthcare sector that previously included localized healthcare systems. The pandemic has boosted digital development across industries including healthcare, which further accelerated the growth of the market.

The COVID-19 pandemic has strongly created the need for active action and the development of a strong, expandable, collaborative, and responsive digital healthcare infrastructure. Due to this, several companies are opting for various ways like the adoption of digitization & outsourcing of all the non-core components of their businesses, like billing & accounts, which would support the market growth. There is a sudden shift witnessed towards digital billing is directly proportional to the growth of the medical billing outsourcing market.

In addition, the growing COVID-19 cases have also created the need for the healthcare providers to focus on providing healthcare facilities as it is their core activities and outsource all the other non-core activities to tackle the pandemic situation. This has further bolstered the growth & demand of the medical billing outsourcing market during this global pandemic.

Component Outlook

Based on Component, the market is segmented into Outsourced and In-house. Since the last few years, physician practices are witnessing various challenges as reimbursements have reduced and costs are increasing, and the introduction of many new regulations have increased the complication of businesses. Thus, it is anticipated to augment the demand for the medical billing outsourcing market during the forecast period.

Service Outlook

Based on Service, the market is segmented into Front-end, Back-end and Middle-end. The middle-end services are estimated to garner the fastest CAGR over the forecast years. This growth is attributed to the factors like the entry of new market players and increasing awareness among healthcare practitioners.

End Use Outlook

Based on End-use, the market is segmented into Hospitals, Clinics and others. Based on End-use, the hospital segment dominated the market and garnered the highest market share in 2020. It is due to the aspect like hospitals were the main users of these services owing to the high claim volume. Consolidations of hospitals further surge the complications of billing & reimbursement processes. Thus, the demand for these services is expected to be high in hospitals in the forecast years.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Region wise, North America emerged as the leading region in the medical billing outsourcing market in 2020. The presence of various healthcare providers in the U.S. has increased their emphasis on end-to-end outsourcing companies for managing their billing processes. Owing to growing awareness about the advantages provided by the outsourcing companies, many healthcare providers are depending on these companies to optimize their operating margins and better management of their high-volume transactions.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Quest Diagnostics, Incorporated, AllScripts Healthcare Solutions, Inc., Athenahealth, Inc. (Veritas Capital), McKesson Corporation, Genpact Limited, eClinicalWorks LLC, Experian PLC, R1 RCM, Inc., and Kareo.

Strategies deployed in Medical Billing Outsourcing Market

May-2021: R1 RCM is acquiring VisitPay, the patient financial engagement company. The acquisition will help R1 in leading the healthcare payments market in price transparency, flexible and personalized payment options, tailored communications and big data analytics.

Mar-2021: Athenahealth teamed up with North American Partners in Anesthesia (NAPA), the nation’s leading single-specialty anesthesia and perioperative management companies. Following the collaboration, the latter company aimed to use athenaIDX, athenahealth’s enterprise-wide revenue cycle management (RCM) solution for fostering best practice workflows that drive efficiency, consistency, and productivity.

Nov-2020: Kareo launched Kareo Patient Collect, a new patient payment collections solution. This solution is designed specifically for independent healthcare practices and medical billing companies. Kareo Patient Collect improves the payment experience for patients and maximizes patient collections for providers.

Aug-2020: Genpact came into partnership with AppZen, a leading artificial intelligence (AI) software for modern finance teams. The partnership was focused on transforming travel and expense (T&E) audit processes, enhancing corporate and regulatory compliance.

Jun-2020: R1 announced that it is acquiring Cerner RevWorks’ services business and commercial, nonfederal client relationships. The acquisition aims to extend R1’s revenue cycle capabilities and expertise to Cerner clients and new prospects.

Scope of the Study

Market Segments covered in the Report:

By Component

• Outsourced

• In-house

By Service

• Front-end

• Back-end

• Middle-end

By End Use

• Hospitals

• Clinics

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• General Electric (GE) Co. (GE Healthcare)

• Quest Diagnostics, Incorporated

• AllScripts Healthcare Solutions, Inc.

• Athenahealth, Inc. (Veritas Capital)

• McKesson Corporation

• Genpact Limited

• eClinicalWorks LLC

• Experian PLC

• R1 RCM, Inc.

• Kareo

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06131534/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Automotive Digital Cockpit Domain Controller Power Expected to Double by 2030

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NEW YORK, March 28, 2024 /PRNewswire/ — The lengthening lifecycle of vehicles is driving automotive Original Equipment Manufacturers (OEMs) to plan several years of customer support through regular Over-the-Air (OTA) updates. Achieving this requires a digital Cockpit Domain Controller (CDC) with an architecture that supports long-term updating and maintenance. According to a new report from global technology intelligence firm ABI Research, the computing power of the CDC will increase significantly over the next few years, with graphical computing power and deep-learning processing power (for AI-powered functions) expected to double by 2030 for an average mid-market CDC.

OEMs are beginning to plan for several years of support, both in software patches and bug fixes, and for delivering new added value features to the driving experience. “This support and feature roadmap requires a hardware and software architecture that supports the continuous updating of vehicles over time. OEMs need a system that accommodates quick, targeted updates by shipping vehicles with planned overhead in computing power, software containerization, and robust hypervisors. These can be accommodated by silicon vendors such as NVIDIA or Qualcomm with their suite of high-powered System-on-Chips (SoCs), along with hypervisor and software specialists such as Blackberry QNX. The ecosystem hasn’t fully adjusted to OTA updates in mixed-criticality systems like the digital cockpit domain controller yet, with most OEMs speculating about the level of computing power that is needed for several years of support and few going to their silicon and tier-one partners with roadmaps of planned features,” explains Abu Miah, Smart Mobility and Automotive Analyst at ABI Research.
The computing power of the CDC will increase significantly over time. The Tera Floating-Point Operations per Second (TFLOPS) of an average mid-market CDC is expected to rise from 1 TFLOPS in 2023 to 2.5 TFLOPS by 2030. Miah adds, “One of the primary drivers of this increase is the implementation of a larger number of higher resolution screens in the vehicle to accommodate new high-end gaming and video-on-demand features.”
Building a ‘future-proofed’ CDC is not as simple as throwing compute power at the vehicle. “OEMs, tier ones, and silicon vendors must all work toward an ecosystem of hardware and software agnosticism, modular architecture, and collaborative software development if they are to match customers’ expectations of updates, patches, and bug fixes from the consumer electronics space,” Miah concludes.
These findings are from ABI Research’s Future-Proofing Digital Cockpit Domain Controllers application analysis report. This report is part of the company’s Smart Mobility and Automotive research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah Petrara Tel: +1.516.624.2558 [email protected] 
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ACL Digital in Collaboration with AWS and Infineon to Participate at Embedded World 2024

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SAN JOSE, Calif., March 28, 2024  /PRNewswire/ — ACL Digital, an ALTEN group company, is a pioneer in design-led digital experience, innovation, enterprise IT modernization, and product engineering services, announced that ACL Digital, in collaboration with AWS and Infineon, is going to showcase its AWS IoT & Cloud capabilities at Embedded World 2024, Hall 4 (Booth #4-552) from April 9 to April 11 in Nuremberg, Germany.

ACL Digital, a top-tier AWS Services partner, propels organizations of all sizes to navigate digital transformation to accelerate time-to-market. The company provides comprehensive support, from adopting to modernizing IT infrastructure on AWS. By leveraging expertise in architecture, security, migration, and operations, ACL Digital unlocks the full potential of AWS, streamlining IoT and cloud journeys and fast-tracking business growth and innovation.
The AWS Advanced Tier partnership enables ACL Digital to leverage AWS expertise, its robust support ecosystem and best practices to deliver customer delight.
ACL Digital offers visitors at Embedded World 2024 a chance to experience the exclusive demo of a Smart Stove Solution, built by leveraging the AWS Cloud and Infineon platform and how it has added value to our customers.
With over 100 AWS-certified experts, ACL Digital empowers clients to achieve breakthrough results in their digital transformation. Also, the leading digital transformation company supports global clients in navigating the complexities of cloud implementation, migration and digital transformation with ease and helping them unlock new growth opportunities.
About AWS
Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 105 Availability Zones within 33 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Malaysia, New Zealand, Thailand, and the AWS European Sovereign Cloud. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit https://aws.amazon.com .
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). To learn more about Infineon, visit https://www.infineon.com/
About ACL Digital
ACL Digital an ALTEN Group Company, is a digital product innovation and engineering leader. We help our clients design and build innovative products (AI, Cloud, and Mobile ready), content and commerce-driven platforms, and connected, converged digital experiences for the modern world through a design-led Digital Transformation framework.
Headquartered in Silicon Valley, ACL Digital is a leader in design-led digital experience, innovation, enterprise modernization, and product engineering services converging to Technology, Media & Telecom. The company has a workforce of 57,000+ spread across more than 30+ countries.

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Gilbarco Veeder-Root champions fuel efficiency, clean fuels and diesel rebate solutions in mining

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JOHANNESBURG, March 28, 2024 /PRNewswire/ — Global leader in technology solutions OEM Gilbarco Veeder-Root (GVR) is dedicated to enhancing operational performance by delivering comprehensive end-to-end wetstock, industrial, mining, and business-to-business solutions, all tailored to meet the specific needs of the customer.

 
 
By encompassing every aspect of mining operations, GVR commercial and industrial Middle East and Africa director Westtar Kapito says, “the company is setting new benchmarks for fuel efficiency, safety and sustainability within the mining industry”.
As part of a holistic approach to mining excellence, Kapito explains that Gilbarco’s integrated fuel and fleet management technology solutions are designed to address the multifaceted challenges of the mining industry.
Some of these facets include wetstock control, equipment maintenance and management, fleet management and automation, compliance monitoring and environmental sustainability, as well as driving productivity and profitability through innovation.
In addition, the introduction of Gilbarco’s clean fuel solution exemplifies the company’s commitment to maintaining equipment integrity and performance.
This technology, GVR says, monitors in real-time the status of up to 16 “clean fuels” key performance matrices, thereby ensuring that dirty fuel is flagged and not transferred into mining equipment which would affect engines and injectors and thus lower productivity.
Gilbarco’s comprehensive site automation solutions empower mining companies with critical data analytic insights, facilitating efficient monitoring and management of fleet and fuel inventory. Gilbarco’s dataFLEX360 platform plays a pivotal role, offering near real-time reporting and analytics to drive informed decision-making and operational agility.
dataFLEX360 is a Web-based, cloud-hosted strategic operational insights platform. The system ensures accurate, reliable and relevant reporting of all fuel, fleet and asset transactions, and provides for proactive corrective measures to reduce complex reporting and gives a consolidated and comprehensive view across all sites and assets.
With reconciliations at its core, dataFLEX360 provides solution accuracy on operational data.
Integral to the company’s solutions is compliance with Global Industry Standards and environmental stewardship, from leak detection to vapour recovery and clean fuel technologies. Gilbarco’s products are designed to ensure compliance and minimise the carbon footprint of mining operations.
Additionally, through the company’s innovative telematics technology and the data generated, it can systematically and seamlessly generate South African Revenue Services- (SARS-) compliant fuel rebate reports for any selected tax period.  
GVR’s technology provides a full audit trail required for eligibility for SARS rebates, and its reporting platform simplifies logbook and data gathering required, enabling successful rebate claims and return on investment.
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