# Medical Billing * **Definition:** The process of submitting and following up on claims with health insurance companies to receive payment for services rendered, including the management of invoicing, ensuring accuracy, compliance, and efficiency in the billing process. * **Taxonomy:** Healthcare Topics / Medical Billing ## News * Selected news on the topic of **Medical Billing**, for healthcare technology leaders * 3K news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 5/22/2025 | [**The 5 Best Medical Billing Outsourcing Companies**](https://medcitynews.com/2025/05/the-5-best-medical-billing-outsourcing-companies/) | [[MedCity News]] | | 5/19/2025 | [**HIMSS CIO Connect brings support through shared knowledge - Healthcare Finance News**](https://www.healthcarefinancenews.com/video/himss-cio-connect-brings-support-through-shared-knowledge) | [[Healthcare Finance]] | | 5/8/2025 | [**Medical Billing Market Size to Hit USD 41.32 Billion by 2032, Driven by AI, RCM, and Digital ...**](https://finance.yahoo.com/news/medical-billing-market-size-hit-060000729.html) | [[Yahoo Finance]] | | 4/29/2025 | [**Cedar Launches 'Kora' AI Voice Agent to Automate Patient Billing Calls - HIT Consultant**](https://hitconsultant.net/2025/04/29/cedar-launches-kora-ai-voice-agent-to-automate-patient-billing-calls/) | [[HIT Consultant]] | | 4/14/2025 | [**Rapid Expansion of Healthcare Outsourcing Market to Reach $662 Billion by 2028, Driven ...**](https://finance.yahoo.com/news/rapid-expansion-healthcare-outsourcing-market-120000654.html) | [[Yahoo Finance]] | | 3/19/2025 | [**388+ revenue cycle management companies to know - 2025 - Becker's Hospital Review**](https://www.beckershospitalreview.com/lists/388-revenue-cycle-management-companies-to-know-2025/) | [[Beckers Hospital Review]] | | 3/10/2025 | [**Sunknowledge Inc. Stands Out as the Best in New York for Medical Billing Solutions**](http://prsync.com/sun-knowledge/sunknowledge-inc-stands-out-as-the-best-in-new-york-for-medical-billing-solutions-4663069/) | [[PRSync]] | | 2/7/2025 | [**Harnessing AI for Smarter Medical Billing Solutions**](https://www.healthcareittoday.com/2025/02/07/harnessing-ai-for-smarter-medical-billing-solutions/) | [[Healthcare IT Today]] | | 1/3/2025 | [**Importance of Medical Billing in Streamlining Healthcare Revenue Cycles - Medium**](https://medium.com/@seo.sohotechservices/importance-of-medical-billing-in-streamlining-healthcare-revenue-cycles-9b7ec0c7f0b4) | [[Medium]] | | 12/9/2024 | [**Medical Billing Challenges: How Healthcare AI Helps Navigate Claim Denials**](https://www.healthitanswers.net/medical-billing-challenges-how-healthcare-ai-helps-navigate-claim-denials/) | [[Health IT Answers]] | | 12/3/2024 | [**Petal Announces Strategic Acquisition of Dobsi Medical Billing, Enhancing Support for Hospitals and Healthcare Providers Across Ontario**](https://www.prweb.com/releases/petal-announces-strategic-acquisition-of-dobsi-medical-billing-enhancing-support-for-hospitals-and-healthcare-providers-across-ontario-302320616.html) | [[PRWeb]] | | 11/19/2024 | [**U.S. Medical Billing Outsourcing Market Is Expected To Reach Revenue Of USD 16.9 Bn By ...**](https://finance.yahoo.com/news/u-medical-billing-outsourcing-market-162800217.html) | [[Yahoo Finance]] | | 10/2/2024 | [**United Kingdom Medical Billing Outsourcing Market by Application, by Types, by Region ... - LinkedIn**](https://www.linkedin.com/pulse/united-kingdom-medical-billing-outsourcing-market-drysf) | [[Linkedin]] | | 9/25/2024 | [**How Does Remote Medical Billing Work at Revneo? - Medium**](https://medium.com/@revneo2024/how-does-remote-medical-billing-work-at-revneo-613bd2ad114c) | [[Medium]] | | 9/12/2024 | [**The Future of Medical Billing: Trends You Need to Know**](https://healthcareguys.com/2024/09/12/the-future-of-medical-billing-trends-you-need-to-know/?utm_source=rss&utm_medium=rss&utm_campaign=the-future-of-medical-billing-trends-you-need-to-know) | [[The Healthcare Guys]] | | 9/12/2024 | [**The Future of Medical Billing: Trends You Need to Know - The Healthcare Guys**](https://healthcareguys.com/2024/09/12/the-future-of-medical-billing-trends-you-need-to-know/) | [[The Healthcare Guys]] | | 9/8/2024 | [**EQT to buy GeBBS Healthcare Solutions to expand in healthcare tech**](https://www.business-standard.com/companies/news/eqt-to-buy-gebbs-healthcare-solutions-to-expand-in-healthcare-tech-124090900421_1.html) | business-standard.com | | 9/3/2024 | [**Medical Billing Outsourcing Market Trends, Growth, Size, Share, Forecast To 2033**](https://www.whatech.com/og/markets-research/medical/874945-medical-billing-outsourcing-market-trends-growth-size-share-forecast-to-2033.html) | whatech.com | | 7/26/2024 | [**Medical Billing Market: $16.8B to $27.7B Growth Forecast (2024-2029) - MarketsandMarkets™**](https://www.globenewswire.com/news-release/2024/07/26/2919552/0/en/Medical-Billing-Market-16-8B-to-27-7B-Growth-Forecast-2024-2029-MarketsandMarkets.html) | [[Globe Newswire]] | | 7/20/2024 | [**Healthcare Business Process Outsourcing (BPO) Market size is set to grow by USD ... - PR Newswire**](https://www.prnewswire.com/news-releases/healthcare-business-process-outsourcing-bpo-market-size-is-set-to-grow-by-usd-17-29-billion-from-2024-2028--focus-on-reducing-operational-costs-to-boost-the-market-growth-technavio-302200687.html) | [[PR Newswire]] | | 7/16/2024 | [**United States Healthcare BPO Market Advancements Highlighted by Report Analysis, Size ...**](https://www.whatech.com/og/markets-research/medical/857204-united-states-healthcare-bpo-market-report-analysis-size-share-2024-32) | whatech.com | | 7/13/2024 | [**Medical Billing Market worth $27.7 billion by 2029 In The Latest Report - WhaTech**](https://www.whatech.com/og/markets-research/medical/856089-medical-billing-market-worth-27-7-billion-by-2029-in-the-latest-report) | whatech.com | | 7/10/2024 | [**Medical Billing Market Evolution: From USD 16.8 Billion to USD 27.7 Billion - MarketsandMarkets™**](https://www.prnewswire.com/news-releases/medical-billing-market-evolution-from-usd-16-8-billion-to-usd-27-7-billion--marketsandmarkets-302193165.html) | [[PR Newswire]] | | 7/10/2024 | [**Medical Billing Market Evolution: From USD 16.8 Billion to USD 27.7 Billion - MarketsandMarkets™**](https://www.prnewswire.co.uk/news-releases/medical-billing-market-evolution-from-usd-16-8-billion-to-usd-27-7-billion--marketsandmarkets-302193166.html) | prnewswire.co.uk | | 7/9/2024 | [**Medical Billing Market Evolution: From USD 16.8 Billion to USD 27.7 Billion - MarketsandMarketstm**](https://www.lelezard.com/en/news-21447190.html) | lelezard.com | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **DrChrono**: A top medical billing software option offering comprehensive billing lifecycle management and customizable payment plans. - **GeBBS Healthcare Solutions**: Specializes in revenue cycle management and medical billing services aimed at improving financial performance for healthcare providers. - **Microsoft**: Involved in healthcare technology, particularly in developing solutions that enhance medical billing processes. - **Expert Medical Billing**: A company that has launched a Strategic Partnership Program to assist healthcare consulting firms and medical practice startup advisors in enhancing service offerings and creating new income streams through collaboration. - **Oracle**: A leading provider of medical billing solutions, focusing on streamlining billing processes and ensuring compliance. - **ModuleMD**: A technology partner for medical billing companies, enhancing revenue cycle management capabilities through acquisitions. - **Medheave**: Provides end-to-end billing solutions to optimize financial stability for healthcare providers. - **Cerner**: A key player in the U.S. medical billing outsourcing market, leveraging advanced billing software and EHR integration. - **McKesson**: A significant player in the medical billing outsourcing market, focusing on improving accuracy and streamlining billing processes. - **Resolution Medical Billing**: A medical billing service provider that has acquired Claims Express LLC to enhance its service offerings in New England. - **Soho Tech Services**: Provides comprehensive medical billing solutions to healthcare practices. - **Candid Health**: A revenue cycle automation platform that simplifies medical billing processes through automation, enhancing billing accuracy and efficiency. - **Cedar**: A company focused on enhancing patient financial experiences through innovative billing solutions. - **Kovo HealthTech Corporation**: Provides Billing-as-a-Service for healthcare providers, processing significant annual billing transactions. - **KAID Health**: Partnered with Park Medical Centers to enhance billing accuracy through AI technology. - **Sunknowledge Services Inc.**: A leading medical billing provider specializing in prior authorization and claims management, known for its high approval rates and efficiency in streamlining billing processes. - **McKesson Corporation**: A major player in the medical billing market, enhancing operational efficiencies and patient support through technology integration. - **Athenahealth**: A healthcare technology company that provides cloud-based medical billing services to improve revenue cycle management. ### Partnerships and Collaborations - **Expert Medical Billing and Healthcare Consultants**: A partnership program aimed at providing a robust, HIPAA-compliant revenue cycle management solution to help medical practices navigate complex billing requirements. - **Fellow Health Partners**: Develops innovative approaches to medical billing by focusing on technology, talent, and training to improve revenue and customer service. - **KAID Health and Park Medical Centers**: A strategic partnership aimed at enhancing billing accuracy and care quality through AI and medical coding support. - **Sun Knowledge Inc.**: Utilizes advanced technology and automation in collaboration with healthcare providers to improve billing and coding efficiency. - **VSee Health and SkywardRx**: Collaboration to enhance telehealth and billing services for various healthcare clients, improving patient access and reducing costs. - **Petal and Medcom Billing Systems**: Petal's acquisition of Medcom aims to improve billing and revenue cycle management solutions across Canada. - **Candid Health and 8VC**: Candid Health announced a $29 million Series B funding round led by 8VC to simplify medical billing processes. - **ModuleMD and MedEase**: ModuleMD's acquisition of MedEase enhances its revenue cycle management capabilities. - **AvodahMed and aiHealth**: A strategic partnership to enhance healthcare revenue cycle operations through AI-driven medical documentation and autonomous coding technologies. - **Cedar**: Plans to expand partnerships to enhance patient financial experiences and address the affordability crisis in healthcare. - **VSee Health and AbundaBox**: A collaboration to launch AbundaLife, a health record management platform aimed at consolidating fragmented medical records for better healthcare management. - **Nabla and Carle Health**: Collaboration to implement an AI assistant to streamline documentation and improve clinician efficiency. - **Preverity and Juice Analytics**: Collaboration to launch an AI-powered Patient Safety Report aimed at improving patient safety and risk management. - **The White House, Microsoft, and Google**: Partnership to provide free cybersecurity services to critical access hospitals to enhance data security. - **EQT and GeBBS**: EQT Private Capital Asia has agreed to acquire a controlling interest in GeBBS to support its growth strategy and enhance technology capabilities. ### Innovations, Trends, and Initiatives - **Outsourcing Medical Billing**: Healthcare providers are increasingly outsourcing billing services to reduce administrative burdens and improve cash flow. - **Telehealth Billing Dynamics**: Emerging trends in billing practices to accommodate the unique requirements of telehealth services. - **AI in Medical Billing**: Integration of AI and machine learning technologies to automate billing processes, enhance accuracy, and reduce errors. - **Telehealth Billing**: The rise of telehealth services necessitates a thorough understanding of complex billing regulations to ensure proper reimbursement for virtual visits. - **Remote Medical Billing**: Companies like Revneo are utilizing cloud-based systems to provide efficient and secure remote medical billing services, enhancing operational efficiency. - **Outsourced Medical Billing Growth**: Projected to grow significantly, driven by the need for operational efficiency and compliance with healthcare regulations. - **Outsourcing Growth**: The medical billing industry is projected to grow significantly due to increasing outsourcing of billing processes to specialized providers for cost savings and improved accuracy. - **AI and Automation**: The adoption of AI and automation technologies is streamlining billing processes, improving accuracy, and reducing errors in medical billing. - **Integration with EHR**: The integration of electronic health records (EHR) with billing systems is becoming a key trend, facilitating better data management and billing accuracy. - **AI and Automation in Medical Billing**: The integration of AI and robotic process automation is transforming revenue cycle management by enhancing efficiency and reducing errors. - **Cloud Solutions**: A shift towards cloud-based medical billing solutions is enhancing operational efficiency and security for healthcare providers. - **Revenue Cycle Management (RCM) Innovations**: Athenahealth's new AI-based features aim to reduce administrative workload and enhance billing accuracy. - **Cloud Computing in Healthcare BPO**: Adoption of cloud solutions to streamline medical billing services and improve operational efficiency. - **Automated Billing Systems**: The use of automated systems powered by AI and machine learning is improving claim processing accuracy and speed. - **Generative AI**: Transforming healthcare billing by automating routine tasks, improving accuracy, and enhancing patient care. - **Value-Based Care Transition**: Healthcare providers are increasingly adopting BPO services that support data analysis and patient management as they transition from fee-for-service models. ### Challenges and Concerns - **Complexity of Medical Billing**: The complexity of insurance claims and regulatory requirements makes medical billing a challenging and error-prone task. - **Complex Billing Regulations**: Healthcare providers must navigate complex billing regulations, especially with the rise of telehealth, to avoid revenue loss. - **Billing Errors**: 80% of medical bills contain errors, primarily due to incorrect coding, leading to significant financial discrepancies. - **Regulatory Compliance**: Healthcare organizations face challenges in ensuring compliance with evolving regulations affecting billing practices. - **Complexity of Billing Systems**: The increasing complexity of coding and billing systems necessitates advanced solutions and outsourcing to manage effectively. - **Patient Financial Experience**: Improving transparency and affordability in billing practices is essential for enhancing patient satisfaction. - **Data Security Concerns**: As medical billing increasingly relies on digital solutions, concerns about data security and patient privacy are paramount. - **Complex Coding Systems**: Challenges related to complex coding systems and data integrity issues must be addressed for successful implementation of AI in medical billing. - **Ransomware Threats**: Cybersecurity incidents, such as the ransomware attack on Change Healthcare, highlight vulnerabilities in medical billing systems. - **Integration Issues**: Difficulties in integrating RCM systems with existing infrastructure can hinder efficiency and accuracy in billing. - **Data Security**: Challenges related to data security and the need for proper training in the implementation of automated billing solutions. - **Claim Denials**: The rising rate of claim denials is costing hospitals approximately $20 billion annually, necessitating proactive measures for revenue cycle optimization. - **Staff Training and Adoption of AI**: Initial investment costs and training needs pose barriers to the widespread adoption of AI technologies in medical billing. - **High Deployment Costs**: The implementation of advanced billing technologies often comes with high costs, which can be a barrier for smaller healthcare providers. - **Cybersecurity Risks**: The class action lawsuit against UnitedHealth highlights vulnerabilities in medical billing systems due to cyber-attacks. - **Complexity of Multi-Payer Systems**: The complexity of the U.S. multi-payer system leads to challenges in obtaining payments, resulting in revenue loss due to underpayments and denied claims. - **Staffing Challenges**: A projected workforce shortage in the healthcare industry could hinder effective revenue cycle management. ## Related Topics [[Medical Coding]]