Emergency Medical Services Billing Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Emergency Medical Services Billing Software Market is Segmented by Component (In-house and Outsourced), Type (Land Ambulance Services, Air Ambulance Services, Water Ambulance Services), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.

Market Snapshot

Emergency Medical Services Billing Software Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Asia-Pacific
CAGR: 8.5 %

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Market Overview

The Emergency Medical Services Billing Software Market is expected to register a CAGR of 8.5% during the forecast period, 2022-2027.

The pandemic of COVID-19 is expected to have a positive impact on market growth. One of the most important differentiators in today's healthcare systems, including earlier localized healthcare systems, is technology. The COVID-19 pandemic has accelerated digital development, which is expected to have a significant positive impact on the market under consideration. The need for proactive action and the establishment of a robust, collaborative, scalable, and agile digital healthcare infrastructure has been emphasized by the pandemic situation. As a result, many businesses are developing a new strategy that includes digitization and outsourcing non-core functions such as EMS billing and accounts, which is expected to boost the market's growth. During the pandemic phase, there was a noticeable shift toward EMS billing software, which is expected to continue to grow over the coming years.

The strategic initiatives taken by the market players to expand their geographical presence are also propelling the growth of the market. For instance, in November 2021, MP Cloud Technologies/MTech, a cloud-based emergency medical services software and billing company, stated its plans to open a division in Spartanburg County, Columbia. MP Cloud Technologies/MTech provides cloud-based software solutions and revenue cycle management (RCM) to support hundreds of private and municipal emergency medical service providers across the United States.

Furthermore, the increasing number of hospital admissions in emergency departments is also expected to contribute to the growth of the market. For instance, as per the Canadian Institute of Health Information Report titled "Injury and Trauma Emergency Department Hospitalization Statistics, 2020-2021", there are 301,347 females and 249,872 males admitted to the emergency department due to unintentional falls during 2020–2021 in Canada. Such a high number of admissions creates the need for automated and accurate billing software and is thus expected to propel the growth of the market.

Thus, all the aforementioned factors are expected to drive the market for emergency medical services billing software over the forecast period. However, cybersecurity threats to EMS billing software and biased outcomes from in-house billing are some of the factors anticipated to hinder the market's growth.

Scope of the Report

As per the scope of the report, the EMS billing software is designed to provide managers and billers with the tools they need to easily manage the cash flow in an increasingly difficult healthcare billing market. The billing software uses a complicated algorithm to pre-evaluate the data on claims before being sent out. The Emergency Medical Services Billing Software Market is Segmented by Component (In-house and Outsourced), Type (Land Ambulance Services, Air Ambulance Services, Water Ambulance Services), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.

By Component
In-house
Outsorced
By Type
Land Ambulance Services
Air Ambulance Services
Water Ambulance Services
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

The Outsourced Component Segment is Projected to Grow Significantly During the Forecast Period

The outsourced component segment held the largest market share as companies find it more cost-effective than developing software in-house. Billing has become more efficient for service providers due to the availability of integrated and advanced billing software. Outsourcing EMS billing software helps to increase cash flow, save money on equipment and software, and reduce staff size and employee expenses. As a result of the growing benefits of outsourcing EMS billing software and revenue growth for EMS billing software providers, the segment is expected to grow over the forecast period.

In hospitals, it is easier to handle emergencies during critical care or post-treatment complications. As a result, most of the disease treatments and surgeries are carried out in hospitals. According to the American Hospital Association 2020, around 8 million surgeries were performed in registered hospitals in the United States for 500 beds. Likewise, as per the Canadian Institute of Health Information, NACRS Emergency Department Visits and Length of the Stay by Province, 2021-2022, there were about 1,075,3041 emergency department visits between April 2021 to December 2021. Thus, the growing number of hospital admissions will ultimately boost the adoption of emergency medical services, in turn propelling the demand for billing software to help manage patients' finances. As a result, these hospitals usually procure medical billing services from other companies engaged in providing billing software and services in order to reduce the burden on the facilities, this will in turn boost the segment's growth in the near future.

Thus, owing to the abovementioned factors, the market segment is expected to show growth over the forecast period.

Emergency Medical Services Billing Software Market

North America Dominates the Market and Expected To Do Same Over the Forecast Period.

Advancements and digitization in the healthcare industry, as well as the emergence of new technologies, are major market drivers in the North American region. The transformation of the healthcare sector in the United States, for example, into a data-intensive industry has prompted the adoption of innovative solutions to advance the development of advanced healthcare. Furthermore, the rising demand for software solutions is being driven by increased hospital admissions and healthcare spending in the North American region, as well as proactive government initiatives aimed at facilitating the efficient maintenance of digital health records. The past few years have witnessed errors in the medical bills across healthcare settings in the region. Thus, the need to reduce errors has fueled the growth of EMS billing software.

Moreover, strategic initiatives such as product innovations, developments, acquisitions, mergers, partnerships, joint ventures, and approvals undertaken by prominent players have resulted in market growth. For instance, in October 2021, R1 RCM Inc. extended the partnership agreement with American Physician Partners (APP) for revenue cycle management (RCM) with R1 until 2031. APP is a recognized leader in emergency medicine, hospital medicine, and intensive care management services, with more than 150 hospital and system partnerships. Additionally, in July 2021, Trapeze collaborated with the Council of Ambulance Authority (CAA). Trapeze Group and the Council of Ambulance Authorities (CAA) co-facilitated their annual knowledge collaboration initiative, an 'ideas board' where the industry came together to share their experience and expertise on a pressing topic within the ambulance sector at the Council of Ambulance Authorities (CAA) Virtual Expo.

Thus, all the aforementioned factors are expected to drive the demand for EMS billing software, thereby boosting the market's growth.

Emergency Medical Services Billing Software Market Analysis

Competitive Landscape

The emergency medical services billing software market is highly competitive, and many small to mid-sized companies are competing with each other and the global players. Due to the advancements and digitalization of the healthcare industry, the demand for emergency medical services billing software is increasing, which is providing an excellent opportunity for companies to establish their market presence and grab a substantial share. Some of the market players include Digitech Computer, Inc, MP Cloud Technologies, R1 RCM, Inc, ESO, Zoll Medical Corporation, Traumasoft, AIM EMS Software & Services, and Change Healthcare

Recent Developments

  • In June 2022, Health iPASS, a Sphere company, entered into a strategic partnership with Atlus Neighbors Emergency Centers (NEC), a group of hospital-affiliated urgent care centers servicing the Houston, TX area. The relationship is centered around the use of Health iPASS's Advanced eBilling product.
  • In March 2022, Tampa Fire Rescue launched a new EMS billing system, Digitech, that is both convenient and secure. Digitech, the new system offers EMS billing and technology that is second to none. It makes use of automated, secure payment methods that you can complete using your mobile phone or device.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Outsourced Billing Services Maximize Revenue

      2. 4.2.2 Technology Driven Solution Improved the Efficiency

      3. 4.2.3 Enhanced the Accuracy of EMS billing Records

    3. 4.3 Market Restraints

      1. 4.3.1 Cybersecurity Threat for EMS Billing Software

      2. 4.3.2 Biased Outcomes From In-House Billing

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value USD million)

    1. 5.1 By Component

      1. 5.1.1 In-house

      2. 5.1.2 Outsorced

    2. 5.2 By Type

      1. 5.2.1 Land Ambulance Services

      2. 5.2.2 Air Ambulance Services

      3. 5.2.3 Water Ambulance Services

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Digitech Computer, Inc

      2. 6.1.2 MP Cloud Technologies

      3. 6.1.3 R1 RCM, Inc

      4. 6.1.4 ESO

      5. 6.1.5 Zoll Medical Corporation

      6. 6.1.6 Traumasoft

      7. 6.1.7 AIM EMS Software & Services,

      8. 6.1.8 Change Healthcare

      9. 6.1.9 Elico Healthcare Services,

      10. 6.1.10 Flatworld Solutions Pvt. Ltd

      11. 6.1.11 ImageTrend

      12. 6.1.12 Medhost EDIS

      13. 6.1.13 Traumasoft

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Emergency Medical Services Billing Software Market market is studied from 2019 - 2027.

The Global Emergency Medical Services Billing Software Market is growing at a CAGR of 8.5% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

Digitech Computer, Inc, Zoll Medical Corporation, Traumasoft, AIM EMS Software & Services, , Flatworld Solutions Pvt. Ltd are the major companies operating in Global Emergency Medical Services Billing Software Market.

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