Canada Medical Billing Outsourcing Market Size & Outlook
Canada medical billing outsourcing market, 2018-2030 (US$M)
Related Markets
Canada medical billing outsourcing market highlights
- The Canada medical billing outsourcing market generated a revenue of USD 614.4 million in 2023 and is expected to reach USD 1,409.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 12.6% from 2024 to 2030.
- In terms of segment, outsourced was the largest revenue generating component in 2023.
- Outsourced is the most lucrative component segment registering the fastest growth during the forecast period.
Medical billing outsourcing market data book summary
| Market revenue in 2023 | USD 614.4 million |
| Market revenue in 2030 | USD 1,409.0 million |
| Growth rate | 12.6% (CAGR from 2023 to 2030) |
| Largest segment | Outsourced |
| Fastest growing segment | Outsourced |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In-house, Outsourced |
| Key market players worldwide | R1 RCM Inc, Veradigm Inc, Oracle Corp, Quest Diagnostics Inc, McKesson Corp, eClinicalWorks, Kareo, AdvancedMD, Promantra |
Other key industry trends
- In terms of revenue, Canada accounted for 4.6% of the global medical billing outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. medical billing outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,409.0 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Medical Billing Outsourcing Market Scope
Medical Billing Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada medical billing outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical billing outsourcing market will help companies and investors design strategic landscapes.
Outsourced was the largest segment with a revenue share of 55.68% in 2023. Horizon Databook has segmented the Canada medical billing outsourcing market based on in-house, outsourced covering the revenue growth of each sub-segment from 2018 to 2030.
Canada’s healthcare system, referred to as Medicare, is publicly funded. The system covers all essential hospital & physician services. These services are delivered via provincial and territorial (i.e., state or regional) governments. The governments fund these healthcare services with aid from federal cash and tax transfers. In 2019, total healthcare expenditure in Canada was 265.5 billion (USD 7,064.0 per person).
Rising medical costs and stringent federal government regulations are among primary factors positively influencing growth of medical billing outsourcing market in Canada. Medical billing outsourcing is expected to reduce healthcare costs by enhancing cash flow & billing processes while managing other common bottom-line challenges and converting them into real-time savings, thereby improving financial control. Increasing number of strategic initiatives being undertaken by medical billing industry players is one of the factors expected to drive market growth in the coming years.
For instance, in January 2019, Premier Health signed an agreement to acquire medical software application firm called Cloud Practice, Inc. Its product portfolio comprises Juno EMR, a cloud-based EMR solution; ClinicAid, a medical billing software; and MyHealthAccess, an online patient portal.
Reasons to subscribe to Canada medical billing outsourcing market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Canada medical billing outsourcing market databook
-
Our clientele includes a mix of medical billing outsourcing market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada medical billing outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Canada medical billing outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Canada medical billing outsourcing market size, by component, 2018-2030 (US$M)
Canada Medical Billing Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
