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Medical Claims Processing Services in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 30, 2024
Length 76 Pages
SKU # IBSS19342955

Description

Medical Claims Processing Services in the US - Industry Market Research Report


Medical Claims Processing Services in the US

Demographic and economic factors are the driving forces behind the rising number of medical claims submitted annually. An aging population's expanding medical needs are increasing the cost and complexity of claims while rising incomes and broader insurance coverage facilitate more visits to healthcare providers. Medical claims processing companies had to adapt quickly to the changes brought on by the COVID-19 pandemic. Swift regulatory changes created challenges for claims processing. Yet, other pandemic effects, like labor shortages, have benefited companies as healthcare providers outsource to alleviate burdens on their workforce. Steadying patient volumes, recession concerns and inflation pressures will lower healthcare expenditure in 2023, reducing the volume of claims. In all, industry-wide revenue has been growing at a CAGR of 2.1% over the past five years – totaling an estimated $4.9 billion in 2023 – when revenue will drop an expected 0.5%.

The Medical Claims Processing Services industry processes and administers medical insurance policies and claims. Businesses help doctors and other healthcare providers collect payments from insurance companies and Medicare.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

76 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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