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Growing Demand for Technologies That Support Healthcare Price Transparency Requirements

Research and Markets
·2-min read

Dublin, March 05, 2021 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com published a new article on the medical billing industry "Growing Demand for Technologies That Support Healthcare Price Transparency Requirements"

2021 will see accelerated adoption of technologies that reduce costs, streamline operations, and reduce errors. There is also expected to be greater demand for technology that provides patients with improved visibility into their medical bills. The CMS final rule on price transparency, which came into effect in January, requires hospitals to disclose their standard charges. The healthcare sector will also increase its investments in robotic process automation (RPA), which can improve the speed and accuracy of manual, repetitive processes such as billing and claims processing. About half of US healthcare providers expect to invest in RPA over the next three years, according to Gartner.

The COVID-19 pandemic prompted increased use of telehealth services and it is likely that demand will remain for these services in 2021. One challenge to providing telehealth services is difficulties with proper telehealth coding for billing. Commercial payer coverage for telehealth services can vary and industry experts suggest providers verify covered services with individual payers. Healthcare providers focused on improving their digital health services should explore ways to integrate them with payments and revenue cycle technology to offer a convenient experience for patients.

The article on ResearchAndMarkets.com contains a selection of reports on medical billing such as:

  • Medical Billing Outsourcing Market Research and Outlook, 2020 - Trends, Growth Opportunities and Forecasts to 2028

  • Mid-revenue Cycle Management/Clinical Documentation Improvement Market by Product & Service, End User, and Geography - Global Forecast to 2027

  • Medical office Software Market Research Report by Product, by End-User - Global Forecast to 2025 - Cumulative Impact of COVID-19

To see the full article and a list of related reports on the market, visit "Growing Demand for Technologies That Support Healthcare Price Transparency Requirements"

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