North America Medical Billing Outsourcing Market Size & Outlook
North America medical billing outsourcing market, 2018-2030 (US$M)
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North America medical billing outsourcing market highlights
- The North America medical billing outsourcing market generated a revenue of USD 6,315.2 million in 2023.
- The market is expected to grow at a CAGR of 11.7% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 6,315.2 million |
| Market revenue in 2030 | USD 13,667.8 million |
| Growth rate | 11.7% (CAGR from 2023 to 2030) |
| Largest segment | Outsourced |
| Fastest growing segment | Outsourced |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 47.0% of the global medical billing outsourcing market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,832.6 million by 2030.
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Medical Billing Outsourcing Market Scope
Medical Billing Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 57.48% in 2023. Horizon Databook has segmented the North America medical billing outsourcing market based on in-house, outsourced covering the revenue growth of each sub-segment from 2018 to 2030.
Changes in health policies & regulations, ICD-10 coding-related challenges, and transition to new payment models are among major factors positively influencing market growth in this region. Due to increasing financial condition of hospitals and clinics across the U.S., Outsourced Business Services (OBS) have become one of the major growth engines in healthcare industry in the country.
Medical practices are gradually seeking outsourced medical billing services to improve their RCM systems. Medical billing outsourcing has become a popular trend in hospitals and clinics to outsource owing to various challenges and complexities faced in internally managing medical billing in a profitable & cost-effective manner.
This region has presence of many key market players such as Cerner Corporation, Allscripts Healthcare Solutions, GE Healthcare, Genpact, and Experian Information Solutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America medical billing outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into North America medical billing outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America medical billing outsourcing market size, by country, 2018-2030 (US$M)
North America Medical Billing Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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