Monday, 16 March 2020

U.S. EMS Billing Services Market – Industry Demand, Trends, Growth Analysis and Forecast Research Report 2026


The U.S. EMS billing services market size is anticipated to reach USD 2.6 billion by 2026, based on a new report by Grand View Research, Inc., registering a CAGR of 8.9% over the forecast period. Growing demand for error-free electronic accounting processes and faster claim processing is expected to fuel market growth. Outsourcing is a cost-efficient alternative to expensive in-house processes. For instance, in-house solutions need a high initial cost for setup, in addition to staff salaries, training and education, department costs, software and hardware costs, and direct claim processing costs. With the services being outsourced, the administrative cost of the EMS agency can be reduced to maximize the overall revenue.

The cost of administration of the U.S. healthcare system is significantly high, with Billing and Insurance-related (BIR) activities comprising a large share in the total cost. The cost of billing EMS is included under administrative cost, which includes billing of ambulance services provided to physicians and hospitals. Billing and reimbursement are important parts of any EMS operation. The process of verification, accounting, and reimbursement is complex and takes time and resources. EMS billing includes financial support operations that involve complete revenue cycle management of a company with the help of software and additional staffing.

Browse full research report on U.S. EMS Billing Services Market: https://www.grandviewresearch.com/industry-analysis/us-ems-billing-services-market

Further key findings from the study suggest:

  • Outsourced solutions dominated the market by component in 2018. Outsourcing has become the method of choice for EMS agencies for streamlined workflow and maximized revenue availability of numerous third-parties in the country
  • Growing demand for third-party service providers for maximized revenue and more efficient claim filing with a low rate of denial are other major factors fueling market growth. Availability of certified medical coders and skilled staff helps avoid unnecessary delay, thus helping patients to save costs and avail quality offerings
  • Key industry participants providing in-house and outsourced EMS billing solutions include EMS Billing Management, LLC; Omni Medical Billing Service, Inc.; EMS Billing Services; Change Healthcare; 911 Billing Services & Consultant, Inc.; EMS Billing & Management Consultant (EMS|MC); The Billing Pros; PCC Ambulance Billing Services; and Pintler Billing Services
  • Acquisitions and partnerships are the major strategies being followed by players in this market. For instance, in October 2016, EMS Management & Consultants, Inc. underwent a long-term partnership with regional healthcare system East Texas Medical Center EMS (ETMC EMS) and 911 ambulance transport service provider called Paramedics Plus to offer revenue cycle management services.
Browse request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/us-ems-billing-services-market/request/rs1

Grand View Research has segmented the U.S. EMS billing services market based on component:

U.S. EMS Billing Services Component Outlook (Revenue, USD Million, 2015 - 2026)
  • In-house
  • Outsourced
About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com

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