With a compound annual growth rate (CAGR) of 12.2%, The global medical billing outsourcing market is projected to reach around $45.8 billion by 2033. The market’s growth is driven by the increasing complexity of healthcare billing systems and a shortage of skilled billing professionals.
Other contributing factors include the rising patient load and the need for accurate billing and coding due to changing insurance policies and regulatory demands. However, the market also faces challenges, particularly regarding data privacy and security, as healthcare organizations remain cautious about outsourcing due to concerns over security breaches and regulatory compliance complexities.
