Blogs

Complete Revenue Cycle Management for
Medical & Dental Clinics, Practices and Hospitals

  • Shared Vision: Your Business is our Business
  • Cloud Based Billing Software or Work on Yours
  • Certified Coders: ICD 10 Coders
  • Real Support with Dedicated Managers
Contact OSI Today!
Ask about our free trial to see firsthand how our services can benefit your practice.

High Growth Predicted for Global Medical Document Management Market

by | Jun 3, 2016 | Blog, Medical Data Entry

According to a new Medical Market Research report, the global medical management market is expected to reach around USD 527 million by 2019. By application, the medical documentation management market is categorized into four segments:

  • Medical billing systems
  • Medical record management
  • Patient admission registration
  • Medical document scanning or medical document imaging management

The shift from paper-based transactions shifting to electronic mediums is driving the growth of the medical document management market, and the report predicts high growth for the cloud-based segment.

The study found that the U.S. represents the largest market for healthcare, worldwide. In the U.S., outsourcing of medical document scanning to HIPAA-compliant service providers is also growing rapidly with electronic health record (EHR) adoption. These companies scan paper records of patient histories, patient insurance information and patient notes and forms, and provide indexing and storage solutions. This allows physicians’ offices to access medical records easily when required, while meeting all compliances and security regulations.

In addition to hospitals, care centers and specialty homes, healthcare insurance providers are key end-users of medical document scanning services and document management software.

The report forecasts that the need to streamline billing will drive the market for medical billing software. With the substantial increase in the number of hospitals and clinics, the need to track all treatment-related expenses of patients has become a key priority for the healthcare sector. These positive trends will significantly increase the demand for medical billing services and systems over the next four years.

Many medical billing companies work with their own software or use the health care provider’s system to provide end-to-end revenue management services. Outsourcing allows physician practices and hospitals to focus on their core tasks while the service provider takes care of everything from medical appointment scheduling and enrollment to payment collection.

Related Posts

OSI Featured Experts

  • Natalie Tornese
    Natalie Tornese
    CPC: Director of Revenue Cycle Management

    Natalie joined MOS’ Revenue Cycle Management Division in October 2011. She brings twenty five years of hands on management experience to the company.

  • Meghann Drella
    Meghann Drella
    CPC: Senior Solutions Manager: Practice and RCM

    Meghann joined MOS’ Revenue Cycle Management Division in February of 2013. She is CPC certified with the American Academy of Professional Coders (AAPC).

  • Amber Darst
    Amber Darst
    Solutions Manager: Practice and RCM

    Hired for her dental expertise, Amber brings a wealth of knowledge and understanding of the dental revenue cycle management (RCM) services to MOS.

  • Loralee Kapp
    Loralee Kapp
    Solutions Manager: Practice and RCM

    Loralee joined MOS’ Revenue Cycle Management Division in October 2021. She has over five years of experience in medical coding and Health Information Management practices.

Contact Us