The global medical billing software market is estimated to be USD 18.04 billion in 2024 and is expected to reach USD 52.57 billion by 2035, with a CAGR of 10.21% during the forecast period 2025-2035. The market will grow due to factors such as the growing need for cloud-based solutions, the rise in telemedicine and remote healthcare services, regulatory mandates and compliance requirements, the increasing adoption of electronic health records (EHR), and the rising demand for automated billing solutions.
The healthcare industry is experiencing a significant increase in demand for automated billing solutions aimed at streamlining administrative processes and minimizing manual errors. Medical billing software automates essential functions such as coding, invoicing, and claims management, resulting in faster reimbursements and reduced administrative burdens. For instance, in August 2023, RXNT, a cloud-based ambulatory software company, partnered with American Business Systems, LLC, to deliver a comprehensive and integrated Medical Billing and Electronic Health Record (EHR) software solution. This collaboration underscores the industry's commitment to enhancing efficiency and accuracy in medical billing practices.
By billing type, the institutional billing segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the large volume of claims processed by hospitals, nursing homes, and other healthcare institutions, which require comprehensive billing solutions to manage complex billing codes and reimbursement processes. For instance, at the HealthTech Summit & Expo in Riyadh, Saudi Arabia, in June 2023, the SANTECHTURE revenue cycle management solution unveiled AI and predictive analytics-based products that support insurance and medical rule validation processes with an emphasis on improving clinical documentation. Additionally, the professional billing segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand from physician practices, specialty clinics, and ambulatory services for streamlined billing solutions to handle individual patient claims and optimize revenue cycle management.
By deployment mode, the web-based segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the ease of access, lower upfront costs, and the ability to integrate seamlessly with existing healthcare IT infrastructure. For instance, Perelman School of Medicine created Pocket Scribe, an AI-based dictation program, in January 2024 to facilitate note-taking, transcribing, and smooth billing and reimbursement processes. Additionally, the cloud-based segment is predicted to grow at the fastest CAGR during the forecast period owing to its scalability, remote accessibility, automatic updates, and enhanced data security features, making it an attractive option for healthcare providers of all sizes.
By end-user, the healthcare providers segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the growing need for efficient billing systems to reduce administrative costs, manage patient volumes, and improve cash flow in hospitals, clinics, and outpatient centers. For instance, the cloud-based medical billing and payer business Lightning MD was purchased by the IT company Elation Health in February 2023. Elation was able to increase the range of technology solutions it offers primary care providers through this acquisition. Additionally, the healthcare payers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of automated billing solutions to manage claims processing, minimize fraud, and enhance operational efficiency in insurance companies and other payers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high adoption rate of advanced healthcare IT solutions, presence of key market players, and favorable government regulations promoting the use of electronic medical records and billing systems. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the well-established healthcare infrastructure, high adoption rate of advanced healthcare IT solutions, presence of key market players, and favorable government regulations promoting the use of electronic medical records and billing systems. For instance, MediPortal PTY LTD. (MediPortal) introduced an AI-powered medical platform for general practitioners in Australia and New Zealand in August 2024. In addition to medical billing, this platform offers speech-to-text medical transcription and a care plan generator powered by AI.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
The healthcare industry is experiencing a significant increase in demand for automated billing solutions aimed at streamlining administrative processes and minimizing manual errors. Medical billing software automates essential functions such as coding, invoicing, and claims management, resulting in faster reimbursements and reduced administrative burdens. For instance, in August 2023, RXNT, a cloud-based ambulatory software company, partnered with American Business Systems, LLC, to deliver a comprehensive and integrated Medical Billing and Electronic Health Record (EHR) software solution. This collaboration underscores the industry's commitment to enhancing efficiency and accuracy in medical billing practices.
By billing type, the institutional billing segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the large volume of claims processed by hospitals, nursing homes, and other healthcare institutions, which require comprehensive billing solutions to manage complex billing codes and reimbursement processes. For instance, at the HealthTech Summit & Expo in Riyadh, Saudi Arabia, in June 2023, the SANTECHTURE revenue cycle management solution unveiled AI and predictive analytics-based products that support insurance and medical rule validation processes with an emphasis on improving clinical documentation. Additionally, the professional billing segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand from physician practices, specialty clinics, and ambulatory services for streamlined billing solutions to handle individual patient claims and optimize revenue cycle management.
By deployment mode, the web-based segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the ease of access, lower upfront costs, and the ability to integrate seamlessly with existing healthcare IT infrastructure. For instance, Perelman School of Medicine created Pocket Scribe, an AI-based dictation program, in January 2024 to facilitate note-taking, transcribing, and smooth billing and reimbursement processes. Additionally, the cloud-based segment is predicted to grow at the fastest CAGR during the forecast period owing to its scalability, remote accessibility, automatic updates, and enhanced data security features, making it an attractive option for healthcare providers of all sizes.
By end-user, the healthcare providers segment accounted for the highest revenue-grossing segment in the global medical billing software market in 2024 owing to the growing need for efficient billing systems to reduce administrative costs, manage patient volumes, and improve cash flow in hospitals, clinics, and outpatient centers. For instance, the cloud-based medical billing and payer business Lightning MD was purchased by the IT company Elation Health in February 2023. Elation was able to increase the range of technology solutions it offers primary care providers through this acquisition. Additionally, the healthcare payers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of automated billing solutions to manage claims processing, minimize fraud, and enhance operational efficiency in insurance companies and other payers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high adoption rate of advanced healthcare IT solutions, presence of key market players, and favorable government regulations promoting the use of electronic medical records and billing systems. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the well-established healthcare infrastructure, high adoption rate of advanced healthcare IT solutions, presence of key market players, and favorable government regulations promoting the use of electronic medical records and billing systems. For instance, MediPortal PTY LTD. (MediPortal) introduced an AI-powered medical platform for general practitioners in Australia and New Zealand in August 2024. In addition to medical billing, this platform offers speech-to-text medical transcription and a care plan generator powered by AI.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
Report Scope:
- Base Year: 2024
- Forecast Period: 2025-2035
- Study Coverage
- Market Forecast by Billing Type, Deployment Mode, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Medical Billing Software Market Report 2024 - 2035
Medical Billing Software Market Analysis & Forecast by Billing Type 2024 - 2035 (Revenue USD Bn)
- Professional Billing
- Institutional Billing
Medical Billing Software Market Analysis & Forecast by Deployment Mode 2024 - 2035 (Revenue USD Bn)
- On-Premises
- Web-Based
- Cloud-Based
Medical Billing Software Market Analysis & Forecast by End-User 2024 - 2035 (Revenue USD Bn)
- Healthcare Providers
- Healthcare Payers
- Others
Medical Billing Software Market Analysis & Forecast by Region 2024 - 2035 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Medical Billing Software Market: Billing Type Estimates & Trend Analysis
8. Medical Billing Software Market: Deployment Mode Estimates & Trend Analysis
9. Medical Billing Software Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Medical Billing Software Market
12. Europe Global Medical Billing Software Market
13. Asia Pacific Global Medical Billing Software Market
14. Latin America Global Medical Billing Software Market
15. MEA Global Medical Billing Software Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Cerner Corporation
- Epic Systems Corporation
- McKesson Corporation
- Allscripts Healthcare Solutions
- Athenahealth, Inc.
- Kareo, Inc.
- AdvancedMD, Inc.
- NextGen Healthcare, Inc.
- eClinicalWorks
- Change Healthcare
- R1 RCM Inc.
- GE Healthcare
- Greenway Health
- TruBridge
- Integra Health Management
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 18.04 Billion |
| Forecasted Market Value ( USD | $ 52.57 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
