U.S. Emergency Medical Services Billing Software Market Size, Share & Trends Analysis Report By Component (In-house, Outsourced), By Type (Water, Land, Air Ambulance), And Segment Forecasts, 2019 - 2026

Report Overview

The U.S. emergency medical services billing software market size was valued at USD 164.5 million in 2018 and is projected to expand at a CAGR of 8.40% over the forecast period. Improving the collection rate of unpaid bills and a reduction in claim processing time leading to increased revenue for emergency medical services (EMS) providers have resulted in high demand for EMS billing software among billing companies and EMS providers.

Due to the changing healthcare system scenario in the U.S., EMS agencies face challenges in managing adequate patient care along with their financials. Billing and reimbursement are crucial processes of an EMS operation. The complex process from prebilling verification to billing to reimbursement takes time and resources. To maintain a strong cash flow for each month, third-party billing companies and EMS providers use EMS billing software.

Moreover, changing regulations for Medicare and Medicaid make the claims process tedious for EMS providers, impacting the overall revenue of the company. Health Insurance Portability and Accountability Act (HIPAA) and NEMSIS compliant software available in the market have transformed the EMS billing process by making it reliable and efficient by reducing errors and claim processing time.

Key companies operating in the U.S. EMS billing software market are focused on developing advanced products to cater to the changing consumer demand and regulatory scenario. They engage in strategic partnerships with significant participants. This factor is anticipated to positively influence growth in the market in the forthcoming years.

Component Insights

By component, the U.S. emergency medical services (EMS) billing software market is segmented into in-house and outsourced. The outsourced segment held the largest market share in 2018 as the companies find this option to be more cost-effective than developing their software in-house. The availability of integrated and advanced billing software has made the billing process more efficient for service providers. Furthermore, the presence of upcoming software developers allows the EMS providers to select EMS billing software that best suits its requirements. Hence, the outsourced segment is anticipated to witness significant over the forecast period.

Type Insights

Land ambulance, air ambulance, and water ambulance services are the key type segments. The land ambulance led the U.S. EMS billing software market in 2018 due to faster response time for transporting patients suffering from cardiac arrest or accidental emergency cases. Private ambulance services agencies such as American Medical Response which has a presence across the nation with more than 6,000 land ambulances and 12 fixed-wing aircraft are gaining a monopoly in the market. However, these agencies face challenges in managing the billing process and recovering the claims from privately insured or Medicaid patients. Billing software specially developed for EMS providers and billing companies is significantly improving the collection leading to increase revenue for the providers.

Air ambulance also has a substantial share in the market. With increases in the rate of natural disasters such as cyclones and tornadoes, demand for air ambulance services has increased for immediate medical transportation. This is anticipated to propel its market share over the forecast period.

U.S. Emergency Medical Services Billing Software Market Share Insights

Strategic partnerships and acquisitions are the major business strategies undertaken by the key market players to improve their product offerings and increase market share. For instance, in April 2019, ESO acquired eCore Software to expand its product portfolio. The acquisition of eCore Software is anticipated to aid ESO in developing a one-stop solution for EMS agencies and the fire department. The rising presence of healthcare IT companies in the EMS industry is increasing competition in the market forcing software developers to offer advanced and innovative products to sustain the market share.

Some of the key contributors are Digitech Computer, Inc.; R1 RCM, Inc.; Zoll Medical Corporation; ImagineSoftware; Change Healthcare; AIM (RAM Software Systems, Inc.); ESO; and MP Cloud Technologies.

U.S. Emergency Medical Services Billing Software Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the U.S. emergency Medical Services billing software market report based on component and type:

• Component Outlook (Revenue, USD Million, 2015 - 2026)

  • In-house

  • Outsourced

• Type Outlook (Revenue, USD Million, 2015 - 2026)

  • Land Ambulance Services

  • Air Ambulance Services

  • Water Ambulance Services