The U.S. EMS billing services market size is anticipated to reach USD 2.6 billion by 2026, based on a new report by Grand View Research, Inc., registering a CAGR of 8.9% over the forecast period. Growing demand for error-free electronic accounting processes and faster claim processing is expected to fuel market growth. Outsourcing is a cost-efficient alternative to expensive in-house processes. For instance, in-house solutions need a high initial cost for setup, in addition to staff salaries, training and education, department costs, software and hardware costs, and direct claim processing costs. With the services being outsourced, the administrative cost of the EMS agency can be reduced to maximize the overall revenue. The cost of administration of the U.S. healthcare system is significantly high, with Billing and Insurance-related (BIR) activities comprising a large share in the total cost. The cost of billing EMS is included under administrative cost, which includes billing of ambulance services provided to physicians and hospitals. Billing and reimbursement are important parts of any EMS operation. The process of verification, accounting, and reimbursement is complex and takes time and resources. EMS billing includes financial support operations that involve complete revenue cycle management of a company with the help of software and additional staffing. Further key findings from the study suggest: • Outsourced solutions dominated the market by component in 2018. Outsourcing has become the method of choice for EMS agencies for streamlined workflow and maximized revenue availability of numerous third-parties in the country • Growing demand for third-party service providers for maximized revenue and more efficient claim filing with a low rate of denial are other major factors fueling market growth. Availability of certified medical coders and skilled staff helps avoid unnecessary delay, thus helping patients to save costs and avail quality offerings • Key industry participants providing in-house and outsourced EMS billing solutions include EMS Billing Management, LLC; Omni Medical Billing Service, Inc.; EMS Billing Services; Change Healthcare; 911 Billing Services & Consultant, Inc.; EMS Billing & Management Consultant (EMS|MC); The Billing Pros; PCC Ambulance Billing Services; and Pintler Billing Services • Acquisitions and partnerships are the major strategies being followed by players in this market. For instance, in October 2016, EMS Management & Consultants, Inc. underwent a long-term partnership with regional healthcare system East Texas Medical Center EMS (ETMC EMS) and 911 ambulance transport service provider called Paramedics Plus to offer revenue cycle management services.
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.1.1 Component 184.108.40.206 In-house 220.127.116.11 Outsourced 1.1.2 Estimates and forecast timeline 1.2 Research Methodology 1.3 Information Procurement 1.3.1 Purchased database 1.3.2 GVR's internal database 1.3.3 Secondary sources 1.3.4 Primary research 1.3.5 Details of primary research 1.4 Information or Data Analysis 1.4.1 Data analysis models 1.5 Market Formulation & Validation 1.6 Model Details 1.6.1 Commodity flow analysis 18.104.22.168 Approach 1: Commodity flow approach 1.6.2 Volume price analysis 22.214.171.124 Approach 2: Volume price analysis 1.7 List of Secondary Sources 1.8 List of Abbreviations 1.9 Objectives 1.9.1 Objective 1 1.9.2 Objective 2 Chapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Outlook 2.2.1 By Component 2.2.2 Competitive landscape Chapter 3 Market Variables, Trends & Scope 3.1 Market Lineage outlook 3.1.1 Parent market outlook 3.1.2 Related/ancillary market outlook 3.2 Market Segmentation 3.3 Market Dynamics 3.3.1 Market driver analysis 126.96.36.199 Outsourcing as a cost-effective option 188.8.131.52 Technological advancement for improved billing service 184.108.40.206 Enhanced accuracy of EMS billing records 3.3.2 Market restraint analysis 220.127.116.11 High cost associated with standard rate of collection 18.104.22.168 Discrepancy in the claim denial statistics hampers providers efficiency 22.214.171.124 Cybersecurity threat for EMS billing software 3.4 Penetration & Growth Prospect Mapping 3.4.1 Penetration & growth prospect mapping analysis 3.5 Regulatory & Reimbursement Framework 3.5.1 Emergency Medical Billing (EMS) billing service regulations in the U.S. 3.6 Business Environment Analysis Tools 3.6.1 U.S. Emergency Medical Services (EMS) billing service market: Porter's five forces analysis 3.6.2 U.S. Emergency Medical Services (EMS) billing service market: PESTEL analysis 3.6.3 Major deals & strategic alliances analysis 126.96.36.199 Mergers & acquisitions and joint ventures 188.8.131.52 Licensing & partnerships and technology collaborations Chapter 4 U.S. Emergency Medical Services (EMS) Billing Service Market: Component Analysis 4.1 U.S. Emergency Medical Services (EMS) Billing Service Component Market Share Analysis, 2018 & 2026 4.2 U.S. Emergency Medical Services (EMS) Billing Service Component Market: Segment Dashboard 4.3 U.S. Emergency Medical Services (EMS) Billing Service Component Market: Movement Analysis 4.3.1 U.S. Emergency Medical Services (EMS) billing service market, 2015 - 2026 (USD Million) 4.4 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Component Segment 4.4.1 In-house 184.108.40.206 In-house market, 2015 - 2026 (USD Million) 4.4.2 Outsourced 220.127.116.11 Outsourced market, 2015 - 2026 (USD Million) Chapter 5 Competitive Analysis 5.1 Strategic Framework/Competition Categorization (Key Innovators, Market Leaders, Emerging Players) 5.2 Vendor Landscape 5.2.1 Company market position analysis (Market presence, service portfolio, employee strength, strategic initiatives) 18.104.22.168 Analysis 5.3 Company Profiles 5.3.1 EMS Management & Consultants, Inc. (EMS|MC) 22.214.171.124 Company overview 126.96.36.199 Financial performance 188.8.131.52 Service benchmarking 184.108.40.206 Strategic initiatives 220.127.116.11 SWOT analysis 5.3.2 The Billing Pros 18.104.22.168 Company overview 22.214.171.124 Financial performance 126.96.36.199 Product/Service benchmarking 188.8.131.52 SWOT analysis 5.3.3 Omni Medical Billing Service, Inc. 184.108.40.206 Company overview 220.127.116.11 Financial performance 18.104.22.168 Product/service benchmarking 22.214.171.124 SWOT analysis 5.3.4 EMS Billing Services, Inc. 126.96.36.199 Company overview 188.8.131.52 Financial performance 184.108.40.206 Product/service benchmarking 220.127.116.11 Strategic initiatives 18.104.22.168 SWOT analysis 5.3.5 911 Billing Services & Consultant, Inc. 22.214.171.124 Company overview 126.96.36.199 Financial performance 188.8.131.52 Product/service benchmarking 184.108.40.206 Strategic initiatives 220.127.116.11 SWOT analysis 5.3.6 Change Healthcare 18.104.22.168 Company overview 22.214.171.124 Financial performance 126.96.36.199 Product/service benchmarking 188.8.131.52 Strategic initiatives 184.108.40.206 SWOT analysis 5.3.7 PCC Ambulance Billing Services 220.127.116.11 Company overview 18.104.22.168 Financial performance 22.214.171.124 Service benchmarking 126.96.36.199 SWOT analysis 5.3.8 EMS Billing Management, LLC 188.8.131.52 Company overview 184.108.40.206 Financial performance 220.127.116.11 Service benchmarking 18.104.22.168 Strategic initiatives 22.214.171.124 SWOT analysis? 5.3.9 Pintler Billing Services 126.96.36.199 Company overview 188.8.131.52 Financial performance 184.108.40.206 Product/service benchmarking 220.127.116.11 SWOT analysis
List of Tables TABLE 1 List of secondary sources TABLE 2 List of abbreviations TABLE 3 HCPCS codes for ambulance billing service TABLE 4 Mergers & acquisition and joint ventures TABLE 5 Licensing & partnerships and technology collaborations TABLE 6 U.S. Emergency Medical Services (EMS) billing service market, by component 2015 - 2026 (USD million) List of Figures Fig. 1 Market research process Fig. 2 Data triangulation techniques Fig. 3 Primary research pattern Fig. 4 Market research approaches Fig. 5 Value-chain-based sizing & forecasting Fig. 6 QFD modeling for market share assessment Fig. 7 Market formulation & validation Fig. 8 Market outlook. 2018 (USD Million) Fig. 9 U.S. Emergency Medical Services (EMS) billing services market segmentation Fig. 10 Market trends & outlook Fig. 11 Market driver relevance analysis (Current & future impact) Fig. 12 Market restraint relevance analysis (Current & future impact) Fig. 13 Penetration & growth prospect mapping Fig. 14 U.S. Emergency Medical Services (EMS) billing service market: Porter's five forces analysis Fig. 15 U.S. Emergency Medical Services (EMS) billing service market: PESTLE analysis Fig. 16 U.S. Emergency Medical Services (EMS) billing service component market: Segment dashboard Fig. 17 U.S. Emergency Medical Services (EMS) billing service component market: Movement analysis Fig. 18 U.S. Emergency Medical Services (EMS) billing service market, 2015 - 2026 (USD Million) Fig. 19 In-house market, 2015-2026 (USD Million) Fig. 20 Outsourced market, 2015 - 2026 (USD Million) Fig. 21 Strategy framework/Competition categorization Fig. 22 Company market position analysis (Market presence, service portfolio, employee strength, strategic initiatives)
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