Medical Billing Outsourcing Market Size Worth USD 29.3 Billion by 2030 at 11.2% CAGR – Report by Market Research Future (MRFR)

Medical Billing Outsourcing Market Size, Trends and Growth Analysis by Component (In House & Outsourced), Service (Front End Service, Middle End Service, & Back End Service), End User (Hospitals, Physician’s Office, & Others) — Global Forecast till 2030

New York, USA, March 13, 2023 (GLOBE NEWSWIRE) -- Medical Billing Outsourcing Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Medical Billing Outsourcing Market Information by Component, Service, End User and Region - Forecast till 2030”, the market is expected to reach USD 29.3 billion by 2030 at 11.2% CAGR during the forecast period 20220-2030

Market Dynamics

Another name for revenue cycle management is medical billing. It is the most intricate and crucial element of the healthcare industry. Healthcare professionals' increased focus on stressful non-medical job is one of the market's problems. With a value of USD 6982 million in 2017, the market is anticipated to grow at a 12.5% CAGR over the projected period. In addition to submitting claims that have benefits like precise billing, fewer errors, quicker payment, lower insurance settlement rates, invoice monitoring, and digitization, it also enables healthcare administrators to deliver effective administrative services to their clients.

With the evolution of technologies and merger and acquisition activities, the technological area will continue to improve, creating several prospects for market expansion. Throughout the projected period, it is anticipated that the growth of digital platforms and the ability to track every action in every field will have a high chance. There are restricting considerations in addition to all the growing forces. The market will face further difficulties due to a lack of qualified personnel because the system won't be upgraded. Due to its numerous well-known industry competitors and rising consumer awareness, North America is predicted to dominate the market. The market will expand significantly within the anticipated time frame.

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Report Scope:

Report AttributeDetails
Market Size in 2030USD 29.3 Billion
Base Year2021
Forecast Period2022-2030
Historical Data2020
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Component, Service and End User
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversThe improvement in the technical field, which leads to advancement in technologies
The rise of the digital platform

One of the main factors propelling the medical billing outsourcing market is the increased focus on compliance and risk management as well as the globalisation of some of the major businesses. Allscripts purchased Core Medical Solutions in 2016 to expand its product offerings in Australia. Nowadays, Allscripts provides help to more than 85 hospitals in Australia.

A number of additional elements, including rising healthcare costs, rising government backing, and technology improvements, are also anticipated to fuel the market's expansion. However over the course of the projected period, rising legislative and regulatory pressure, unexplored new markets, and expensive technology prices could limit market expansion.

Medical Billing Outsourcing Market Key Players

The vital companies operating in the market of Medical Billing Outsourcing are

  • R1 RCM Inc
  • Allscripts
  • Cerner Corporation
  • EClinical Works
  • Experian Information Solutions Inc
  • Genpact
  • HCL Technologies Limited
  • Kareo, Inc
  • McKesson Corporation
  • Quest Diagnostics Incorporated
  • The SSI Groups Inc

Browse In-depth Market Research Report (90 Pages) on Medical Billing Outsourcing:


Component, service, end user, and geographic regions are used to segment the medical billing outsourcing market.

Component-by-component, the global market for medical billing outsourcing is divided into in-house and outsourced.

The market is divided into front end, middle, and back-end segments based on the type of service.

The medical billing outsourcing market is divided into hospitals, doctor's offices, and other end users based on end user.

Medical Billing Outsourcing Market Regional Outlook

The four worldwide regions of the Americas, Europe, Asia-Pacific, and Middle East and Africa are included in the study's current scope and include the aforementioned segments.

The medical billing outsourcing industry in the Americas has been further divided into North America and South America, with the US and Canada making up the majority of the North American market.

The medical billing outsourcing market in Europe has been divided into Western Europe and Eastern Europe. Germany, France, the United Kingdom, Italy, Spain, and the rest of Western Europe are collectively referred to as Western Europe. Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific make up the segments of the Asian market. The Middle East and Africa have been divided up into separate market segments.

Due to rising healthcare costs, the existence of significant market participants, and the expanding adoption of medical billing outsourcing software by hospitals in the region, the Americas dominated the global market for medical billing outsourcing. By 2019, it was discovered that almost 80% of hospitals were thinking about outsourcing their whole revenue cycle management.

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Also, in 2018, AdvancedMD launched the option of ePayments, which makes it easier to collect unpaid patient balances and decrease ageing A/R. rapidly and effectively

According to estimates from 2017, Europe ranked second in the world medical billing outsourcing market. This is due to the growing demand for effective billing procedures.

In 2017, the region with the fastest growth was Asia-Pacific. The expanding patient population and growing healthcare infrastructure make emerging economies like Singapore, Australia, India, and China the most lucrative. The market will develop as a result of rising government support through programmes and laws, growing knowledge of medical billing software, and its growing importance.

The Middle East and Africa, on the other hand, had the smallest market share in the worldwide medical billing outsourcing industry because of poor healthcare knowledge and outdated technology. 

Due to their strong economies, access to current technology, and availability of qualified medical personnel, Saudi Arabia and the United Arab Emirates hold the majority of market shares in this region. These factors have helped the Middle Eastern and African region's market grow steadily.

Discover more research Reports on Healthcare Industry by Market Research Future:

Medical Billing Market Share, Trends and Growth Analysis By Type (Professional Billing, Institutional Billing), Application (Database Management, Financial, Infrastructure, Operational) Process (Electronic Billing, Payment And Medical Billing Services) - Forecast Till 2030

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