South Africa Medical Billing Outsourcing Market Size & Outlook
South Africa medical billing outsourcing market, 2018-2030 (US$M)
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South Africa medical billing outsourcing market highlights
- The South Africa medical billing outsourcing market generated a revenue of USD 181.1 million in 2023 and is expected to reach USD 389.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 11.6% 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 181.1 million |
| Market revenue in 2030 | USD 389.4 million |
| Growth rate | 11.6% (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, South Africa accounted for 1.3% 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 Middle East & Africa, South Africa medical billing outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 313.7 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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South Africa 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 50.36% in 2023. Horizon Databook has segmented the South Africa medical billing outsourcing market based on in-house, outsourced covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa has recognized outsourcing industry as a crucial enabler of growth. In addition, it was recognized as the most significant outsourcing destination in 2016 and 2018 at the annual meet of Global Sourcing Association (GSA) held in London. This further validates South Africa's position as one of the preferred destinations for outsourcing, highlighting the fact that BPO & offshoring market in South Africa is growing at a lucrative rate.
This is expected to benefit large, small, & medium businesses around the world, which are seeking to outsource their medical billing processes. One of the key elements of medical billing outsourcing market is advanced IT infrastructure that provides safe data access and enables cash flow management privacy & data security as well as its implementation is simple.
It benefits clinical professionals and patients. Medical billing outsourcing services market is currently in nascent stage in South Africa. However, the industry is creating jobs by providing cross-functional services with help of government and outsourcing service providers.
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Our clientele includes a mix of medical billing outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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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 South Africa medical billing outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into South Africa medical billing outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa medical billing outsourcing market size, by component, 2018-2030 (US$M)
South Africa Medical Billing Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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