Hospitals and health systems across the nation use pharmacy billing software to ensure an efficient, streamlined billing process.
Here are four things to know about the pharmacy billing software market, according to a report from Transparency Market Research.
1. The pharmacy billing software market is categorized into two major segments — EHR or EMR software and revenue cycle management.
2. The main driving factors for the growth of the pharmacy billing software market are "better management of patients' clinical information and accounting documentation, processing of insurance claims for a faster reimbursement, and smooth functioning between the healthcare organization and the payer," according to the report.
3. North America leads the pharmacy billing software market followed by Europe. In the report, growth of the pharmacy billing software market in North America and Europe is primarily attributed in the report to maintenance of up-to-date and proactive medical service, elimination of billing errors and individuals' increasing need to access faster reimbursement procedure from the concerned insurance company.
4. Key players in the pharmacy billing software market include:
- Healthpac Computer Systems
- CareCloud Corp.
- Kareo
- AllegianceMD
- Accumedic Computer Systems
- NextGen Healthcare Information Systems
- AthenaHealth
- McKesson