U.S. EMS Billing Services Industry
The U.S. EMS billing services market size is expected to reach USD 4.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 9.85% from 2023 to 2030. Technological advancements in billing software drive market growth by enhancing process transparency, speed, and efficiency, leading to increased revenue. Furthermore, the increasing number of ER visits and the rising number of independent ER facilities are boosting demand, highlighting the need for efficient handling of payment sources and accurate reimbursement.
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.
Gather more insights about the market drivers, restrains and growth of the U.S. EMS Billing Services market
U.S. EMS Billing Services Market Segments 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
U.S. EMS Billing Services Market Report Segmentation
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, 2018 - 2030)
Key U.S. EMS Billing Services Company Insights
- 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
Order a free sample PDF of the U.S. EMS Billing Services Market Intelligence Study, published by Grand View Research.
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