U.S. Medical Billing Outsourcing Market Revenue is Expected to Reach USD 7.8 Billion by 2026: Grand View Research Inc.

San Francisco, 13 March 2019: The Report U.S. Medical Billing Outsourcing Market Size, Share & Trends Analysis Report By End Use (Hospitals, Physician Offices), By Service, By Component (In-House, Outsourced), And Segment Forecasts, 2019 - 2026

The U.S. medical billing outsourcing market size is poised to reach USD 7.8 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 11.0% during the forecast period. Increasing population of baby boomers and rising chronic diseases among young generation are resulting in widened base of patients in the country. 

Furthermore, growing burden on revenues & profits, declining Medicare payments, and mounting billing volumes are leading to need to decrease in-house processing costs. Therefore, hospitals are increasingly outsourcing their billing activities. The challenge mounts when billing process mandates adherence to the International Classification of Diseases-10th revision (ICD-10) code along with dealing with rising healthcare costs and declining reimbursements. Challenges in managing in-house billing processes include setbacks experienced in IT structure, untrained staff, billing errors, and lack of proper financial policy in place.

In order to curb or alleviate these challenges, several healthcare providers, such as acute care hospitals and clinics/physician offices, prefer outsourcing their medical billing process. Studies suggest that in 2015, 95.0% of independent physicians acknowledged that outsourcing revenue management is right decision.

Acceptance of Revenue Cycle Management (RCM) in various healthcare facilities varies with application. Scheduling, coding, billing, patient registration, and claims processing are adopted more than other RCM applications in the U.S.

Access Research Report of U.S. Medical Billing Outsourcing Market@ https://www.grandviewresearch.com/industry-analysis/us-medical-billing-outsourcing-market

Further key findings from the study suggest:

·       Advantages associated with outsourcing of medical billing services include improvement in billing process by decreasing errors, swift turnaround time, and smooth administrations for hospitals and other medical institutes

·       Outsourced medical billing is likely to witness the highest growth during the forecast period owing to growing focus on minimizing the cost of healthcare delivery and improving patient & physician relationship

·       The front end services segment dominated the market in 2018 as they increase downstream cash flow and decrease rework & cost to collect

·       On the other hand, the middle-end services market is expected to register the fastest growth during the forecast period

·       By end use, hospitals accounted for the largest revenue share in the U.S. medical billing outsourcing market in 2018. Errorless billing procedures and minimization of loss is a focus of RCM providers

·       Physician offices, however, are estimated to post a higher CAGR during the same period. According to the Black Book's 2016 RCM survey, demand from physicians’ offices are increasing as they want to align financial and clinical outcomes

·       Some of the key players in this market are Allscripts; Accretive Health, Inc.; Cerner Corporation; Experian Information Solutions, Inc.; EClinicalWorks; GE Healthcare; Genpact; McKesson Corporation; Kareo; Quest Diagnostics; and The SSI Group.

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/healthcare-it

Grand View Research has segmented the U.S. medical billing outsourcing market by component, service, and end use:

U.S. Medical Billing Outsourcing Component Outlook (Revenue, USD Million, 2015 - 2026)

·         In-House

·         Outsourced

U.S. Medical Billing Outsourcing Service Outlook (Revenue, USD Million, 2015 - 2026)

·         Front End

·         Middle End

·         Back End

U.S. Medical Billing Outsourcing End Use Outlook (Revenue, USD Million, 2015 - 2026)

·         Hospitals

·         Physician Offices

·         Others

Access Press Release of U.S. Medical Billing Outsourcing Market@ https://www.grandviewresearch.com/press-release/us-medical-billing-outsourcing-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

U.S. ECG Equipment Market Increase at a CAGR of 5.7% from 2019 to 2026: Grand View Research Inc.

San Francisco, 13 March 2019: The Report U.S. ECG Equipment Market Size, Share & Trends Analysis Report By Type (Resting ECG, Holter Monitors, Stress ECG Monitors, Event Monitors), By End Use, By Region, And Segment Forecasts, 2019 - 2026

The U.S. ecg equipment market size is expected to reach USD 2.8 billion by 2026, based on a new report by Grand View Research, Inc., registering a 5.7% CAGR during the forecast period. Rise in prevalence of cardiovascular diseases in the country, availability of various monitoring devices, and technological advancements are among key factors driving the U.S. electrocardiograph device market.

Increase in investment by various market players and the U.S. government for development and commercialization of various easy-to-use equipment is also likely to drive the market. For instance, in September 2017, the U.S. FDA approved an app-driven, easy-to-clean, and fully reusable ECG device manufactured by NimbleHeart. The device can be wrapped around a user’s torso and used without electrolytic gels and adhesives. Hence, it can be cleaned easily, thereby making the product ideal for multi-patient use.

In May 2018, Preventice Solutions launched BodyGuardian Mini, a reusable long-term and smallest Holter technology for cardiac monitoring. The new technology includes an ultra-small cardiac monitor that can measure ECG up to 14 days and can transfer data to a physician in an easy-to-read report. Hence, launch of such technologically advanced products to address the needs of physicians and patients is expected to boost market growth in the coming years.

Access Research Report of U.S. ECG Equipment Market @ www.grandviewresearch.com/industry-analysis/us-ecg-equipment-market

Further key findings from the study suggest:

·       Rising incidence of cardiac diseases and growing geriatric population are expected to propel market growth in the coming years

·       By type, the resting ECG system segment accounted for the largest share in the market and is expected to witness significant growth during the forecast period. This can be attributed to availability of several commercial products, improved clinical accuracy due to advanced data analysis tools to detect heart-related problems, and high penetration in large hospitals

·       The Holter monitor segment is expected to witness the fastest growth over the forecast period owing to portability of these devices, cost-effectiveness, and ability to record heart’s electrical activity for a longer duration

·       By end use, hospitals accounted for the largest share in 2018 as majority of patients rely on hospitals than other healthcare facilities due to the availability of well-equipped devices and latest monitoring software

·       Based on geography, the south region accounted for the dominant share in 2018 and is expected to maintain its lead throughout the forecast period due to a large target population and presence of a high number of hospitals

·       Advancements in medical technology and availability of portable ECG devices have led to an increase in diagnosis rate, as these systems facilitate immediate transfer of data pertaining to outpatient procedures. This is expected to drive demand for ambulatory care centers during the forecasts period

·       Some of the key players are BioTelemetry, Inc.; CardioComm Solutions, Inc.; Compumed Inc.; GE Healthcare; Mindray Medical; Hill Rom; NIHON KOHDEN CORPORATION; Philips Healthcare; Schiller AG; Spacelabs Healthcare; Welch Allyn; and McKesson Corporation.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the U.S. ECG equipment market by type, end use, and region:

U.S. ECG Equipment Type Outlook (Revenue, USD Million, 2015 - 2026)

·         Resting ECG System

·         Holter Monitors

·         Stress ECG Monitors

·         Event Monitors

U.S. ECG Equipment End-use Outlook (Revenue, USD Million, 2015 - 2026)

·         Hospitals

·         Ambulatory Care

·         Others

U.S. ECG Equipment Region Outlook (Revenue, USD Million, 2015 - 2026)

·         Northeast

·         Midwest

·         South

·         West

Access Press Release of U.S. ECG Equipment Market@ www.grandviewresearch.com/press-release/us-ecg-equipment-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Hearing Aids Market is Anticipated To Generate Significant Revenues by 2024: Grand View Research Inc.

San Francisco, 12 March 2019: The Report Hearing Aids Market Analysis By Product Type (In-The Ear, Receiver-In-The-Ear, Behind-The-Ear, Canal Hearing Aids ITC, CIC, IIC), By Technology Type (Digital And Analog Hearing Aid), And Segment Forecasts To 2024

The global hearing aids market was valued at USD 4.5 billion in 2015 and is expected to reach a value of USD 6.5 billion by 2024, according to a new report by Grand View Research, Inc. Key factors driving the market expansion include the dramatic increase in aging population of 65 years & above and the associated loss of hearing and growing demand for new-generation instruments that are technologically enhanced and enriched equipment with better aesthetics.

As per the data published by the WHO (2013), the prevalence of the same disease in adults over age of 65 years is expected to be five times more than that for the individuals below 65 years of age. It also estimates that in the developing nations around 20% of the people with hearing loss require hearing aids and less than 3% of them are expected to be using it. Other factors leading to the hearing-related problems in individuals are chronic ear infections, birth defects, exposure to high decibels of noise, and prolonged listening to loud music through headphones. Around 90% of the global chronic ear infections prevail in the South-West Asia, Western Pacific, and African regions.

Education and increased health-related awareness amongst the population also plays a crucial role in increasing the demand across the world. The WHO assists the low- and middle-income countries to develop programs for prevention and management of hearing loss.

Access Research Report of Hearing Aids Market@ www.grandviewresearch.com/industry-analysis/hearing-aids-market

Further Key Findings from the Study Suggest:

·       In 2015, the behind-the-ear devices accounted for the largest market share of about 47.1%. The high growth was attributed to the high comfort levels, better connectivity, and high efficiency of the product.

·       The digital aids segment occupied the majority of the share, accounting for about 85% in 2015. The segment continued to dominate with a CAGR of 4.8% during the forecast period. The key factors for growth include enhanced listening experience and high connectivity with smart phones.

·       In 2015, Europe held the majority of the market share of about 38.3%. The major drivers for the growth of this industry are an increase in the hearing disorders & deafness and the growing demand for technologically advanced hearing solutions. The increase in the geriatric population and the growing purchasing power of the patients also contributes to the growth in the region.

·       Asia Pacific is expected to emerge as the fastest growing region with a CAGR of 5.4% during the forecast period. The developing economies possess large pool of patients and exhibit high prevalence of this disease.

·       Some key players in the market are GN ReSound, William Demant Holdings A/S, Sonova Holding AG, Sivantos Pte Ltd. (Siemens), Widex A/S, and Starkey Hearing Technologies; they focus on developing unique technically advanced devices that focus on enhanced listening and miniaturization.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the hearing aids market by product, technology and region:

Product Outlook (Market Revenue in USD Million, 2013 - 2024)

·         In-the-ear hearing aid

·         Receiver-in-the-ear hearing aid

·         Behind-the-ear hearing aid

·         Canal hearing aids ITC, CIC and IIC

Technology Outlook (Market Revenue in USD Million, 2013 - 2024)

·         Digital hearing aid

·         Analog hearing aid

Regional Outlook (Market Revenue in USD Million, 2013 - 2024)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Access Press Release of Hearing Aids Market@ www.grandviewresearch.com/press-release/global-hearing-aids-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Microgrid Market to Grow at Moderate CAGR of 17.0% Through 2025: Grand View Research Inc.

San Francisco, 12 March 2019: The Report Microgrid Market Analysis By Power Source (Natural Gas, Combined Heat & Power (CHP), Solar PV, Diesel, Fuel Cell), By Product (Remote, Grid Connected, Hybrid), By Application, And Segment Forecasts, 2018 - 2025

The global microgrid market is expected to reach USD 17.51 billion by 2025, growing at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid differs from conventional electrical distribution system as it acts a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

Rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

Access Research Report of Microgrid Market@ www.grandviewresearch.com/industry-analysis/microgrid-market

Further key findings from the report suggest:

·       The global microgrid demand was stood at 1.48 GW in 2016 and is projected to reach 6.54 GW by the end of 2025, expanding at a CAGR of 16.3% from 2017 to 2025.

·       Remote microgrid market demand was 568.2 MW in 2016. The segment is expected to foresee tremendous gains owing to the upcoming installation of new projects in Arctic circle, Russia

·       Natural gas is expected to witness revenue growth at a CAGR of 18.1% from 2017 to 2025. The governments of Russia and Syria signed Russia-Syria Offshore Gas Deal which is aimed for exploration and production of natural gas in Syrian Coast. The abovementioned favorable trends in natural gas industry of Russia is expected to open new markets.

·       Utility is projected to account for 9.6% of global volume share by the end of 2025 as a result of increasing power demand amid the inclusion of new HVAC and heavy load machinery in manufacturing sector

·       North America is expected to account for 71.4% of global revenue by the end of 2025. The increasing number of new solar PV microgrids for utility in Northeast and West regions of the U.S. is expected to have a positive impact.

·       Key vendors include Siemens AG, Exelon, GE, Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power Analytics, Toshiba Corporation, Honeywell International Inc, ZBB Energy Corporation, Echelon Corporation and Schneider Electric. In November 2016, Exelon launched five new microgrids at USD 250 million through the assistance with Anarbic. This launch is anticipated to play a crucial role in increasing the market share of Exelon in global industry over the next eight years.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/construction-and-utilities

Grand View Research has segmented the global microgrid market on the basis of power source, product, application, and region:

Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)

·         Natural Gas

·         CHP

·         Solar PV

·         Diesel

·         Fuel Cell

·         Others

Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)

·         Remote

·         Grid connected

·         Hybrid

Microgrid Application Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)

·         Government

·         Education

·         Commercial

·         Utility

·         Defense

·         Others

Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

Access Press Release of Microgrid Market@ www.grandviewresearch.com/press-release/global-microgrid-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com