Press release
Medical Claims Processing Services Market Global Industry Analysis By Size Estimation, Share, Business Growth, Demand and Regional Trends | Aetna Inc., Infinit Healthcare, Invensis Technologies Pvt. Ltd
Medical Claims Processing Services Market
Description:
As the global healthcare industry continues to expand, healthcare providers are facing challenges in maintaining optimal quality of services. Number of claims are increasing with increasing coverage of medical insurance. Processing such claims along with the administrative tasks, patient care, and other daily operations is cumbersome and involves high cost and trained personnel. Processing of claims in-house by the healthcare provider has the risk of delayed payment, error in amounting, and customer dissatisfaction. Moreover, healthcare providers need to be updated with changes in regulations and new services and products being launched in the market for in-house processing of claims. Outsourcing of medical claims ensures minimal error and faster turnover, thereby reducing risk of delayed payment. According to the American Medical Association (AMA), 20% error rate among health insurers represents an intolerable level of inefficiency that causes a loss of around US$ 17 billion each year. This depicts a strong need for adequate and technically advanced claim processing services and software to reduce the economic burden.
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About Medical Claims Processing Services Market Report
This research report categorizes the global Medical Claims Processing Services Market by players/brands, region, type and application. This report also studies the global market status, competition landscape, Market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porter's Five Forces Analysis.
Market Competition by Top Key Players/Manufacturers:
Aetna Inc., Infinit Healthcare, Invensis Technologies Pvt. Ltd, Humana Inc., UnitedHealth Group, Telegenisys Inc., and Health Care Service Corp.
Medical Claims Processing Services Industry Outlook is Positive in Developed Economies
According to Swiss Re, the global insurance penetration rate was a mere 6.2% in 2014, with India having insurance penetration rate on the lower side, at just 3.9% in the same year. Moreover, the study found that the insurance penetration rate fell to 3.2% in 2015 in India. The U.S., Japan, U.K., Australia, Italy, and France are some of the leading countries in the global medical claims processing services market, owing to higher insurance penetration rate, increasing number of claims, and growing demand from healthcare providers. Furthermore, favorable healthcare policy and government initiatives such as Affordable Care Act have also boosted demand for medical claim processing services in the U.S. Europe is quickly emerging as another important medical claims processing services market. However, introduction of Solvency II in Europe may have an adverse impact on the insurance operators in Europe.
Although the medical claims processing services market in Asia Pacific and Rest of the World are still at a very nascent stage, high population base and increasing awareness for insurance in the middle income group is expected to boost demand for medical claim processing services in the near future.
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Medical Claims Processing Services Market Dynamics in the world mainly, the worldwide 2020-2026 Medical Claims Processing Services Market is analyzed across major global regions. CMI also provides customized specific regional and country-level reports for the following areas:
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Major Highlights of the Medical Claims Processing Services Market Report:
Medical Claims Processing Services Market Overview, Market shares and strategies of key players, Sales Market Forecast, Manufacturing Analysis of Medical Claims Processing Services, Market Driving Factor Analysis of Medical Claims Processing Services, Market Competition Status by Major Manufacturers, Upstream and Downstream Market Analysis of Medical Claims Processing Services, and Cost and Gross Margin Analysis of Medical Claims Processing Services.
Why This Report is Useful? It helps:
1. The report will include the qualitative and quantitative analysis with Medical Claims Processing Services Market estimation and compound annual growth rate (CAGR) between 2020 and 2026
2. Assess the Medical Claims Processing Services production processes, major issues, and solutions to mitigate the development risk.
3. Comprehensive analysis of market dynamics including factors and opportunities of the global Medical Claims Processing Services Market will be provided in the report
4. Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to their future product launch, technology upgrades, market expansion, and marketing tactics.
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Further in the report, the Medical Claims Processing Services market is examined for Sales, Revenue, Price and Gross Margin. These points are analyzed for companies, types, and regions. In continuation with this data, the sale price is for various types, applications and regions are also included. The Medical Claims Processing Services industry consumption for major regions is given. Additionally, type wise and application wise figures are also provided in this report.
In this study, the years considered to estimate the market size of 2020-2026 Medical Claims Processing Services Market are as follows:
History Year: 2015-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2026
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About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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