UK Medical Billing Outsourcing Market Size & Outlook
UK medical billing outsourcing market, 2018-2030 (US$M)
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UK medical billing outsourcing market highlights
- The UK medical billing outsourcing market generated a revenue of USD 567.1 million in 2023 and is expected to reach USD 1,273.2 million by 2030.
- The UK market is expected to grow at a CAGR of 12.2% 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 567.1 million |
| Market revenue in 2030 | USD 1,273.2 million |
| Growth rate | 12.2% (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, UK accounted for 4.2% 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 Europe, Germany medical billing outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 1,815.3 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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UK 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 53.2% in 2023. Horizon Databook has segmented the UK medical billing outsourcing market based on in-house, outsourced covering the revenue growth of each sub-segment from 2018 to 2030.
The UK has several managed care and health insurance plans. In addition, due to higher utilization of medical services compared to other European countries, there has been rapid increase in the demand for medical facilities. Moreover, discrepancies in health audits, such as unrecovered costs due to inpatient drugs as well as improper entries on bills, have led to unrecovered bills and costs.
The UK’s healthcare system is characterized by changing demographics and rising costs, which need proper management. Over the last two decades, healthcare spending in the UK has increased exponentially. For instance, according to Office for National Statistics (ONS), Between 1997 and 2018, overall healthcare spending in the UK more than doubled in real terms (adjusted for inflation); in 2018, it increased by 3.2 %, the fastest pace of annual growth since 2009.
Furthermore, in 2018, total current healthcare expenditures were USD 297.10 billion, or USD 4471.82 per person. Introduction of new payment models, increased interoperability, and data virtualization in healthcare have resulted in increase in medical outsourcing for managing billing requirements to meet the needs of healthcare providers in the country. Owing to high utilization of medical billing services and collection of money from patients & insurers, outsourced medical billing services have great growth potential in UK’s high-growth market.
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Target buyers of UK medical billing outsourcing market databook
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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 UK medical billing outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into UK medical billing outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK medical billing outsourcing market size, by component, 2018-2030 (US$M)
UK Medical Billing Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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