Medical billing outsourcing market to reach $45.8b by 2033

Its growth is attributed to the increasing complexity of healthcare billing processes.

The global market for medical billing outsourcing is expected to reach approximately $45.8b by 2033 at a projected compound annual growth rate (CAGR) of 12.2%, said The Brainy Insights.

The sector’s expansion is attributed to the increasing complexity of healthcare billing processes and the shortage of skilled billing staff.

Additional drivers include the growing patient burden and the rising demand for accurate billing and coding due to evolving insurance policies and regulatory requirements. 

Meanwhile, the market faces constraints, particularly in the areas of data privacy and security. 

The risks of security breaches and the complexities of regulatory compliance make healthcare organisations cautious about outsourcin, the report noted.