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Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Medical Billing Software Market Share Worth $32.18 Billion by 2030 with 10.2% CAGR
CHICAGO, June 18, 2025 /PRNewswire/ — The Medical Billing Software Market share is projected to be valued at USD 17.92 billion in 2024 and reach USD 32.18 billion by 2030, growing at a CAGR of 10.2% according to a new report by The Research Insights. The expanding demand for efficient healthcare management solutions together with technological advancements and stricter regulatory requirements drive market growth. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Medical Billing Software Market growth of 10.2% comprises a vast array of, Billing Type, Deployment Mode, End-Use, and Geography which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Global Medical Billing Software Market Size, Download FREE Sample Pages: Market Overview and Growth Trajectory: Medical Billing Software Market Growth: According to an exhaustive report by The Research Insights, the Medical Billing Software Market is experiencing significant growth. The medical billing software industry experiences growth due to specific new elements that showcase fast-paced digital advancements in healthcare. The increase toward value-based care with outcome-based reimbursement models acts as a major force that requires advanced automated billing solutions to achieve precise compliance and operational efficiency. The COVID-19 pandemic accelerated telehealth and virtual care adoption which created a stronger demand for integrated billing platforms that manage remote service claims and accommodate various payer requirements. Healthcare interoperability advancements together with AI and machine learning applications in claims automation and fraud detection are revolutionizing billing processes. Tech firms both established and new are adding predictive analytics and real-time reporting features to their systems which deliver enhanced user experiences that meet the needs of big hospitals and small practices. The ongoing evolution of regulatory standards like ICD-11 enforcement and stricter HIPAA compliance requires providers to implement billing systems that can adapt quickly and scale effectively. The medical billing software market is experiencing sustained global growth as a result of changing competitive dynamics driven by outsourced billing services expansion and the adoption of cloud-based deployment models. The healthcare sector is transitioning to digital platforms through the expanded use of Electronic Health Records (EHR) and digital infrastructure: The medical billing software market is primarily driven by the swift transformation of healthcare systems through Electronic Health Records (EHR) and practice management systems digitization. The HITECH Act in the U.S. along with other government mandates and incentive programs motivated healthcare providers to replace paper-based systems with digital platforms for managing patient data. Medical billing software establishes a seamless connection with EHR systems which enables automated billing processes and diminishes clerical mistakes while creating more efficient claims submission procedures. Digital integration boosts data precision while enhancing provider-payer communication and speeding up reimbursement processes. The increasing adoption of cloud-based and AI-powered EHR platforms by hospitals, clinics and private practices drives the need for more advanced billing software that can manage complex coding and comply with regulations. For Detailed Market Insights, Visit: Healthcare reimbursement and regulatory compliance are becoming increasingly complex: The escalating complexity of healthcare billing functions as a vital growth driver due to ongoing changes in coding standards including ICD-10 and CPT as well as payer-specific rules alongside federal regulations such as HIPAA. Healthcare providers face continuous stress to guarantee claims are processed both accurately and promptly to prevent rejections and financial penalties. Through its powerful coding assistance tools and real-time claim editing capabilities along with audit trail management medical billing software helps providers maintain compliance and lessen their administrative workloads. The adoption of value-based care approaches and bundled payment structures requires advanced billing platforms equipped with analytics to monitor performance indicators and blend financial and clinical information. Healthcare providers are investing in powerful medical billing systems to minimize risk and improve revenue cycle management as regulatory scrutiny becomes more severe in markets such as the U.S., UK, and Australia. Growing Demand for Outsourcing and Cloud-Based Solutions: New outsourcing trends for revenue cycle management and modern cloud-based software solutions transform the current medical billing industry framework. Many small and mid-sized healthcare providers lack sufficient resources for complex billing systems internally so they turn to external billing software vendors to increase operational efficiency. Medical billing platforms hosted on cloud services provide scalable solutions at reduced initial expenses while enabling remote data access thus becoming essential tools in the decentralized and telehealth centric healthcare sector. These platforms facilitate real-time updates while ensuring data security and insurance database integration which helps speed up claims submission and approval. The healthcare industry's adoption of remote work and virtual healthcare models will result in increasing demand for agile cloud-native billing systems that enable interoperability and mobile access. Stay Updated on The Latest Medical Billing Software Market Trends: Geographical Insights: Through its strong healthcare infrastructure North America secured 39.4% of market share in 2023 and achieved seamless integration of advanced technology. Digital solutions adoption has brought substantial improvements to healthcare results and system advancements continue to boost operational efficiency. The medical billing software market in Asia Pacific is set to grow quickly because of the aging demographic and the increasing number of chronic diseases in nations like Japan, China, and India. The need for greater hospital admissions due to this shift creates pressure on healthcare infrastructure and demonstrates the importance of cutting-edge billing solutions to streamline operations. Global Medical Billing Software Market Segmentation and Geographical Insights: Based on Billing Type, the medical billing software market is divided into Professional Billing, and Institutional Billing. The institutional billing segment dominated the revenue landscape in 2023, driven by its specialization and focus on serving large healthcare institutions. Based on Deployment Mode, the medical billing software market is divided into, On-Premises, Web-Based, and Cloud-Based. The web-based segment dominated revenue shares in 2023, with online platforms providing healthcare providers a convenient access to billing systems through web browsers, thereby eliminating the need for cumbersome local installations and reducing IT overhead. The growing requirement for efficiency, scalability, and accessibility in healthcare operations has led to the widespread adoption of web-based solutions. Based on End Use, the medical billing software market divided into Healthcare Providers, Healthcare Payers, and Others. The healthcare providers segment dominated the market in 2023, with revenue growth significantly influenced by the stringent regulatory measures implemented across countries, including the United States. The Medical Billing Software Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Medical Billing Software Market Size and Growth Report (2024-2030) at: Key Players and Competitive Landscape: The Global Medical Billing Software Market is characterized by the presence of several major players, including: Kareo, Inc. WebPT, Inc. athenahealth ADT Cognizant Epic Systems Corporation. GeBBS Healthray DrChrono (EverHealth Solutions Inc.) AGS Health CompuGroup Medical AdvancedMD, Inc. Digitech Computer LLC Compulink Advantage Medusind These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Medical Billing Software Market Recent Developments and Innovations: In March 2024: The pharmacy software provider DocStation partnered with CPESN to develop online medical claim submission solutions for pharmacists. In January 2024: A resident at Perelman School of Medicine invented Pocket Scribe, an AI-powered dictation tool that simplifies transcription tasks and enables efficient note-taking and billing processes. In January 2024: The patient support program developed by McKesson Corporation (US) and Hoffmann-La Roche Limited (Switzerland) enhances patient experience while resolving administrative challenges and speeding up reimbursement procedures. In November 2023: Veradigm LLC (US) introduced Veradigm Intelligent Payments as a software solution for Veradigm Payerpath that works with RevSpring to speed up payments and reduce manual record reconciliation for healthcare practices. In August 2023: FareMD introduced their artificial intelligence platform to enhance medical billing processes throughout the United States. In February 2023: The healthcare technology firm Elation Health purchased Lightning MD which operates cloud-based medical billing services. Through this acquisition Elation has broadened its technology solutions available to primary care practices. For Region-Specific Market Data, Check Out Brief Sample Pages: Frequently Asked Questions (FAQs): What is the forecasted market size of the Medical Billing Software Market in 2030?The forecasted market size of the Medical Billing Software Market is USD 32.18 billion in 2030. Who are the leading players in the Medical Billing Software Market?The key players in the Medical Billing Software Market include, Kareo Inc.; WebPT, Inc.; athenahealth; ADT; Cognizant; Epic Systems Corporation.; GeBBS; Healthray; DrChrono (EverHealth Solutions Inc.); AGS Health; CompuGroup Medical; AdvancedMD, Inc.; Digitech Computer LLC; Compulink Advantage; and Medusind among others. What are the major drivers for the Medical Billing Software Market? Key drivers fueling this growth include the escalating need for streamlined healthcare management, advancements in technology, and rising regulatory requirements. Which is the largest region during the forecasted period in the Medical Billing Software Market?The North America region dominated the market share with 39.4% in 2023, primarily due to its robust healthcare infrastructure. Which is the largest segment, by billing type, during the forecasted period in the Medical Billing Software Market?The institutional billing segment dominated the revenue landscape in 2023, driven by its specialization and focus on serving large healthcare institutions. Conclusion: A rapid transformation of the global medical billing software market stems from demands for efficient administrative procedures combined with rising healthcare costs and increasingly complex medical coding and insurance regulations. Healthcare providers looking to improve operational efficiency while minimizing billing mistakes are increasingly adopting automated cloud-based billing solutions. Billing platforms now include artificial intelligence technology alongside machine learning and data analytics to allow for precise claims processing while enhancing fraud detection and revenue cycle optimization. Healthcare organizations are driven by regulatory compliance needs and value-based care models to implement scalable, secure billing systems that ensure interoperability. As telehealth services and remote care delivery continue to grow there is an increasing demand for billing systems that can operate across multiple channels and adapt to various situations. Medical billing software stands as a foundational component for digital health transformation while simultaneously establishing itself as an indispensable resource for enhancing financial performance and administrative accuracy together with patient satisfaction throughout worldwide healthcare systems. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: The report from The Research Insights, therefore, provides several stakeholders—healthcare providers, hospitals and clinics, insurance companies, government health agencies, healthcare IT companies, and regulatory bodies—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 32.18 billion by 2030, the Global Medical Billing Software Market represents a significant opportunity for cloud service providers, health tech startups, AI and machine learning developers, cybersecurity firms, and data analytics companies, can position themselves for success in this dynamic and evolving market landscape. Check out more related studies published by The Research Insights: Medical Billing Outsourcing Market: The Global Medical Billing Outsourcing Market is expected to reach at USD 30.2 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 12.26% during the forecast period, driven by emerging trends that are transforming the industry. U.S. Medical Billing Outsourcing Market – The US medical billing outsourcing market is expected to reach USD 6.28 billion by 2024, with a projected CAGR of 12.00% from 2025 to 2030. As healthcare providers face significant challenges in managing their claim and reimbursement processes, the demand for outsourced medical billing services is on the rise. With an increasing patient load and the need to address a growing records and bills burden, medical practitioners are turning to outsourcing as a solution to alleviate revenue losses. Healthcare Claims Management Market: The Global Healthcare Claims Management Market is expected to reach at USD 136.67 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 23.4% during the forecast period. This remarkable growth can be attributed to the increasing emphasis on delivering high-quality healthcare services tailored to specific populations and the rapid adoption of technology-enabled solutions. Browse More related reports on Healthcare Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us:If you have any queries about this report or if you would like further information, please contact us:Contact Person: Kaushik RoyE-mail: sales@ +1-312-313-8080Blog: Press Release: Latest News: | Logo: View original content:
United News of India
08-06-2025
- Health
- United News of India
Bihar tops the nation in digital healthcare, with over 90 per cent health facilities almost paperless
Patna, June 8 (UNI) With 92 per cent of health facilities almost going paperless, Bihar has emerged as the national frontrunner in digital transformation in healthcare, achieving the number one rank in the Ayushman Bharat Digital Mission (ABDM) implementation. The state is setting new benchmarks in accessible and efficient public health delivery, with a remarkable 92 per cent online OPD registration rate at government health facilities and the highest number of QR code scans for patient check-ins CEO of Bihar Swasthya Suraksha Samiti, Shashank Shekhar Sinha, highlighted the state's achievements and said that the state not only leads in QR code scans for OPD registration but also tops the country in the number of Electronic Health Records (e-prescriptions) generated. He further noted that Bihar has received the highest incentives under the Central Government's Digital Health Incentive Scheme (DHIS), which are being reinvested to strengthen the state's digital health infrastructure. State Health Committee Administrative Officer Rajesh Kumar said that the state's BHAVYA (Bihar Health Applications Visionary Yojana for All) model, aligned with ABDM, has redefined healthcare accessibility and monitoring across the state. According to Kumar, paperless health facilities under digital healthcare were possible following the 'Scan and Share' initiative under ABDM, which allows patients to scan a QR code at the entry of a health facility and directly proceed to a consultation without the hassle of long queues or paperwork. This simple yet revolutionary step, along with widespread adoption of ABHA IDs (Ayushman Bharat Health Account), has dramatically reduced patient turnaround time in government hospitals, from over an hour earlier to an average of just 45 minutes now, covering consultation to medicine disbursal. Kumar further said that Bihar's state-of-the-art Command and Control Centre, a technological nerve centre in the state capital, monitors real-time feeds from all district hospitals and health facilities across the state. It ensures prompt alerts, compliance monitoring, and smooth operations at all levels. This setup is further backed by District Command Centres and Data Analytics Units, allowing proactive identification and management of potential health emergencies by tracking disease trends and patient data in real time. Meanwhile, a nine-member delegation recently visited Bihar on a three-day tour of the state to understand the scale and impact of this digital leap. During interaction with patients at the Community Health Centre (CHC) in Silao in Nalanda district, the patients lauded the convenience and efficiency of the new digital process, describing it as a complete overhaul of the previous cumbersome system. UNI RS BD
Yahoo
21-05-2025
- Business
- Yahoo
WorkDone, a Y Combinator-Backed Startup, Raises $1.8M in VC Funding to Transform Medical Documentation Compliance With AI
SAN FRANCISCO, CALIFORNIA / / May 21, 2025 / WorkDone ( a healthcare AI startup based in San Francisco, announced the closing of a $1.8 million pre-seed round to tackle one of healthcare's most costly and persistent challenges: documentation errors in Electronic Health Records (EHRs). The round, which took place in April this year, included backing from Pioneer Fund, DVC, Fjor, Ryan Chan, Eric Norman, and other notable early-stage investors. WorkDone's AI-powered compliance copilot integrates directly with hospital EHR systems using HL7, FHIR, and other industry protocols. It continuously monitors clinical workflows in real time to detect and resolve documentation issues - like missed discharge notes or incorrect medication times - before they result in denied insurance claims, compliance audits, or revenue loss. WorkDone is built to deliver measurable impact at scale: Accelerate insurance payments by up to 20% by eliminating documentation gaps that delay reimbursement and cause resubmittals. Reduce provider time on documentation by 30%, enabling clinicians to focus more on patient care. Eliminate 90% of effort spent on manual charts audit by automating flagging and fixing documentation issues. Recover up to 15% of provider's revenue typically lost to preventable claim denials through real-time issue resolution. "We're excited to see our solution already making a difference for hospitals and clinics nationwide," said Dmitry Karpov, CEO of WorkDone. "Accurate documentation isn't just a billing issue - it's a foundation of quality care. We help ensure that what happens in care gets reflected correctly, in real time." "Ensuring clinical compliance isn't just about avoiding penalties - it's about protecting patients and supporting frontline staff." - Joel N.H. Stern, Professor of Neurology & Molecular Medicine, Zucker School of Medicine at Hofstra University, advisor of WorkDone. Since the beginning of 2025, WorkDone has achieved major milestones: completing HIPAA compliance, acquiring its first healthcare clients - primarily in the drug and alcohol rehabilitation sector - and securing a spot in Y Combinator's Spring 2025 (X25) batch. The company is currently focused on expanding sales to medical institutions across California, Texas, and Florida, where documentation compliance challenges are particularly acute. Watch video: For media inquiries or partnership opportunities, contact: media@ Contact Information Sergey Y CPOmedia@ SOURCE: Wrkdn, Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
Miami Herald
21-05-2025
- Business
- Miami Herald
WorkDone, a Y Combinator-Backed Startup, Raises $1.8M in VC Funding to Transform Medical Documentation Compliance With AI
SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / May 21, 2025 / WorkDone ( a healthcare AI startup based in San Francisco, announced the closing of a $1.8 million pre-seed round to tackle one of healthcare's most costly and persistent challenges: documentation errors in Electronic Health Records (EHRs). The round, which took place in April this year, included backing from Pioneer Fund, DVC, Fjor, Ryan Chan, Eric Norman, and other notable early-stage investors. WorkDone's AI-powered compliance copilot integrates directly with hospital EHR systems using HL7, FHIR, and other industry protocols. It continuously monitors clinical workflows in real time to detect and resolve documentation issues - like missed discharge notes or incorrect medication times - before they result in denied insurance claims, compliance audits, or revenue loss. WorkDone is built to deliver measurable impact at scale: Accelerate insurance payments by up to 20% by eliminating documentation gaps that delay reimbursement and cause provider time on documentation by 30%, enabling clinicians to focus more on patient 90% of effort spent on manual charts audit by automating flagging and fixing documentation up to 15% of provider's revenue typically lost to preventable claim denials through real-time issue resolution. "We're excited to see our solution already making a difference for hospitals and clinics nationwide," said Dmitry Karpov, CEO of WorkDone. "Accurate documentation isn't just a billing issue - it's a foundation of quality care. We help ensure that what happens in care gets reflected correctly, in real time." "Ensuring clinical compliance isn't just about avoiding penalties - it's about protecting patients and supporting frontline staff." - Joel N.H. Stern, Professor of Neurology & Molecular Medicine, Zucker School of Medicine at Hofstra University, advisor of WorkDone. Since the beginning of 2025, WorkDone has achieved major milestones: completing HIPAA compliance, acquiring its first healthcare clients - primarily in the drug and alcohol rehabilitation sector - and securing a spot in Y Combinator's Spring 2025 (X25) batch. The company is currently focused on expanding sales to medical institutions across California, Texas, and Florida, where documentation compliance challenges are particularly acute. Watch video: For media inquiries or partnership opportunities, contact: media@ SOURCE: Wrkdn, Inc. press release
Business Wire
19-05-2025
- Business
- Business Wire
DocGo Wins 'Compliance Management Innovation Award' in 2025 MedTech Breakthrough Awards Program
NEW YORK--(BUSINESS WIRE)-- DocGo Inc. (Nasdaq: DCGO) ('DocGo'), a leading provider of technology-enabled mobile health services, today announced that it has been selected as winner of the 'Compliance Management Innovation Award' in the 9 th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global digital health and medical technology market. DocGo's breakthrough Compliance Program excels at adapting to the organization's dynamic environment and consistently updating its strategies to address emerging risks and technologies. The program's approach focuses on managing ethics, compliance, and risk management to strengthen corporate culture, drive results, and promote transparency and accountability within the healthcare industry. DocGo's Compliance Program ensures alignment with industry standards and federal and state regulations, even as the organization scales rapidly and introduces innovative solutions to the healthcare industry. The program's annual compliance survey, a key component, provides employees with an additional confidential channel to report concerns and share feedback. 'Our Compliance Program has been an essential component in the success of our organization, and is built on the foundation of organizational excellence. Along with transparency and ethical practices, our approach remains focused on fostering a culture of trust,' said Stephen Sugrue, DocGo's Chief Compliance Officer. 'We're grateful to MedTech Breakthrough for this recognition, and we remain committed to delivering high quality, highly accessible healthcare to all, and through our meticulously crafted Compliance Program, to do so ethically.' The MedTech Breakthrough Awards program celebrates excellence and innovation in the health and medical technology industry, recognizing the companies, products, and solutions driving meaningful progress and improving patient care. Spanning a wide range of categories—including Telehealth, Clinical Administration, Patient Engagement, Electronic Health Records (EHR), Virtual Care, Medical Devices, Medical Data & Privacy, and beyond—the awards highlight the groundbreaking work that is transforming the healthcare landscape. This year's program saw a record-breaking number of nominations from leading companies and startups across more than 18 countries, showcasing the global impact and momentum of the digital healthcare industry today. 'DocGo's approach to compliance offers innovative strategies to consistently build a strong foundation. Healthcare organizations need to implement and streamline policies and procedures that address emerging issues and ensure compliance with regulatory standards. From patient safety to care quality, to employee satisfaction, the right policies build trust and reputation,' said Steve Johansson, managing director, MedTech Breakthrough. 'DocGo's Compliance Program has all the hallmarks of a well-designed program with ample resources, empowerment, and the evidence of working incredibly well in practice. We're thrilled to award them our 2025 'Compliance Management Innovation Award!'' By incorporating the Department of Justice (DOJ) 2024 Evaluation of Corporate Compliance Programs, DocGo's program has been able to further improve its effectiveness strategies. This guidance has been the model framework in building the 2025 Compliance & Audit Work Plan, a valuable resource that assesses the program based on the DOJ's risk strategy initiatives. The work plan has been enhanced with various risk assessments conducted by key stakeholders, as well as incorporating and handling risks with new and emerging technology, and streamlining cybersecurity procedures to improve HIPAA privacy objectives. About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and medical transport solutions. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit About MedTech Breakthrough Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is devoted to honoring excellence and innovation in medical & health technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough healthcare and medical companies and products in categories that include Patient Experience & Engagement, Health & Fitness, Medical Devices, Clinical Administration, Connected Healthcare, Medical Data, Healthcare Cybersecurity and more. For more information visit Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
