Global medical billing market to hit $41.32b by 2032

Revenue cycle management solutions and outsourcing trends drive market growth.

The global medical billing market is projected to reach $41.32b by 2032 at a compound annual growth rate of 11.6%, according to SNS Insider.

The sector’s expansion is attributed to rising healthcare expenditures, a growing demand for electronic services, and the complexity of coding and billing systems.

In addition, trends in revenue cycle management solutions and outsourcing are contributing to market growth.

“Technological innovation and regulatory compliance demands are prompting providers to implement effective billing systems, which are supporting steady growth in hospitals, clinics, and ambulatory surgical centres worldwide,” the report said.