FUTURE OF MEDICAL BILLING SERVICES
As per reports, by 2026, the U.S. medical billing outsourcing market will reach USD 7.8 billion. Since there is a growing burden on revenue and profits, Medicare payments are declining, billing volumes are increasing, it is becoming necessary for providers to bring down their in-house processing costs. This is leading them to outsource their medical billing activities. According to the industry experts, challenges associated with in-house billing such as setbacks to the IT structure, billing errors, untrained staff, and lack of financial policy and so on are the reasons why more practices will choose to outsource. Today, the medical billing industry is a multinational industry due to the rise in medical needs and spending.
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