Globally, healthcare spending is expected to drastically increase in the next few years. Developed countries can attribute their increase in spending to an aging population and lower fertility rate. Meanwhile, emerging countries can attribute their increase in healthcare spending to the lack of infrastructure, increase in chronic diseases, and the inequality in the availability of patient care. Technology is also becoming a salient part of healthcare.
While healthcare expenditures grow, the providers are struggling to keep pace in handling medical operations and providing services to their patients. Providers are plagued with increasing cost pressures, compliance issues, and system inefficiencies. As a result, healthcare organizations are moving towards outsourcing models that are transforming provider finances from cost-centric to profit-centric.
The Global Medical Billing Outsourcing Market 2015-2019 report believes that the global healthcare IT market is being driven by the need for more cost-effective operations, but it is challenged by regulatory issues. A major trend for the market is the emergence of cloud-based billing services.
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