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PUBLISHER: KBV Research | PRODUCT CODE: 1563273
PUBLISHER: KBV Research | PRODUCT CODE: 1563273
North America Medical Billing Software Market Size, Share & Trends Analysis Report By Billing Type, By Deployment, By End-user, By Country and Growth Forecast, 2024 - 2031
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The North America Medical Billing Software Market would witness market growth of 9.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Medical Billing Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,662.9 Million by 2031. Canada market is experiencing a CAGR of 11.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.7% during (2024 - 2031).
Medical billing software plays a crucial role in modern healthcare systems, offering a range of applications that enhance the efficiency and accuracy of billing processes. Its diverse applications address various needs within healthcare organizations, from streamlining administrative tasks to ensuring regulatory compliance.
Additionally, this automates the creation, submitting, and tracking of insurance claims. It generates electronic claims based on patient encounters and coding data, reducing the need for manual data entry. The software tracks the status of claims in real time, providing alerts for resubmissions or follow-ups if claims are denied or require additional information.
The growing investment in Canada's healthcare sector significantly influences the medical billing software market. As the Canadian government and private entities increase funding and support for healthcare initiatives, several key impacts are shaping the medical billing software landscape in the country. As per the Government of Canada, the government announced an investment of $196.1 billion over ten years, including $46.2 billion in new funding, for territories and provinces to enhance healthcare services for citizens.
Based on Billing Type, the market is segmented into Institutional Billing, and Professional Billing. Based on Deployment, the market is segmented into Cloud-Based, Web-Based, and On-Premises. Based on End-user, the market is segmented into Healthcare Providers, Healthcare Payers, and Other End-user. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Kareo, Inc.
- GE HealthCare Technologies, Inc.
- Athenahealth, Inc.
- Quest Diagnostics Incorporated
- Epic Systems Corporation
- Oracle Corporation
- Cognizant Technology Solutions Corporation
- SAP SE
- NEXTGEN HEALTHCARE, INC.
- Microsoft Corporation
North America Medical Billing Software Market Report Segmentation
By Billing Type
- Institutional Billing
- Professional Billing
By Deployment
- Cloud-Based
- Web-Based
- On-Premises
By End-user
- Healthcare Providers
- Healthcare Payers
- Other End-user
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Medical Billing Software Market, by Billing Type
- 1.4.2 North America Medical Billing Software Market, by Deployment
- 1.4.3 North America Medical Billing Software Market, by End-user
- 1.4.4 North America Medical Billing Software Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.5 Porter Five Forces Analysis
Chapter 5. North America Medical Billing Software Market by Billing Type
- 5.1 North America Institutional Billing Market by Region
- 5.2 North America Professional Billing Market by Region
Chapter 6. North America Medical Billing Software Market by Deployment
- 6.1 North America Cloud-Based Market by Country
- 6.2 North America Web-Based Market by Country
- 6.3 North America On-Premises Market by Country
Chapter 7. North America Medical Billing Software Market by End-user
- 7.1 North America Healthcare Providers Market by Country
- 7.2 North America Healthcare Payers Market by Country
- 7.3 North America Other End-user Market by Country
Chapter 8. North America Medical Billing Software Market by Country
- 8.1 US Medical Billing Software Market
- 8.1.1 US Medical Billing Software Market by Billing Type
- 8.1.2 US Medical Billing Software Market by Deployment
- 8.1.3 US Medical Billing Software Market by End-user
- 8.2 Canada Medical Billing Software Market
- 8.2.1 Canada Medical Billing Software Market by Billing Type
- 8.2.2 Canada Medical Billing Software Market by Deployment
- 8.2.3 Canada Medical Billing Software Market by End-user
- 8.3 Mexico Medical Billing Software Market
- 8.3.1 Mexico Medical Billing Software Market by Billing Type
- 8.3.2 Mexico Medical Billing Software Market by Deployment
- 8.3.3 Mexico Medical Billing Software Market by End-user
- 8.4 Rest of North America Medical Billing Software Market
- 8.4.1 Rest of North America Medical Billing Software Market by Billing Type
- 8.4.2 Rest of North America Medical Billing Software Market by Deployment
- 8.4.3 Rest of North America Medical Billing Software Market by End-user
Chapter 9. Company Profiles
- 9.1 Kareo, Inc.
- 9.1.1 Company Overview
- 9.1.2 Recent strategies and developments:
- 9.1.2.1 Product Launches and Product Expansions:
- 9.1.2.2 Acquisition and Mergers:
- 9.2 GE HealthCare Technologies, Inc.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 Athenahealth, Inc.
- 9.3.1 Company overview
- 9.3.2 Recent strategies and developments:
- 9.3.2.1 Partnerships, Collaborations, and Agreements:
- 9.3.2.2 Product Launches and Product Expansions:
- 9.4 Quest Diagnostics Incorporated
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental Analysis
- 9.4.4 SWOT Analysis
- 9.5 Epic Systems Corporation
- 9.5.1 Company Overview
- 9.5.2 Recent strategies and developments:
- 9.5.2.1 Product Launches and Product Expansions:
- 9.5.3 SWOT Analysis
- 9.6 Oracle Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 SWOT Analysis
- 9.7 Cognizant Technology Solutions Corporation
- 9.7.1 Company overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Recent strategies and developments:
- 9.7.4.1 Partnerships, Collaborations, and Agreements:
- 9.7.5 SWOT Analysis
- 9.8 SAP SE
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Product Launches and Product Expansions:
- 9.8.6 SWOT Analysis
- 9.9 Nextgen healthcare, inc.
- 9.9.1 Company Overview
- 9.9.2 SWOT Analysis
- 9.10. Microsoft Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Product Launches and Product Expansions:
- 9.10.6 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Medical Billing Software Market, 2020 - 2023, USD Million
- TABLE 2 North America Medical Billing Software Market, 2024 - 2031, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Medical Billing Software Market
- TABLE 4 Product Launches And Product Expansions- Medical Billing Software Market
- TABLE 5 Acquisition and Mergers- Medical Billing Software Market
- TABLE 6 North America Medical Billing Software Market by Billing Type, 2020 - 2023, USD Million
- TABLE 7 North America Medical Billing Software Market by Billing Type, 2024 - 2031, USD Million
- TABLE 8 North America Institutional Billing Market by Region, 2020 - 2023, USD Million
- TABLE 9 North America Institutional Billing Market by Region, 2024 - 2031, USD Million
- TABLE 10 North America Professional Billing Market by Region, 2020 - 2023, USD Million
- TABLE 11 North America Professional Billing Market by Region, 2024 - 2031, USD Million
- TABLE 12 North America Medical Billing Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 13 North America Medical Billing Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 14 North America Cloud-Based Market by Country, 2020 - 2023, USD Million
- TABLE 15 North America Cloud-Based Market by Country, 2024 - 2031, USD Million
- TABLE 16 North America Web-Based Market by Country, 2020 - 2023, USD Million
- TABLE 17 North America Web-Based Market by Country, 2024 - 2031, USD Million
- TABLE 18 North America On-Premises Market by Country, 2020 - 2023, USD Million
- TABLE 19 North America On-Premises Market by Country, 2024 - 2031, USD Million
- TABLE 20 North America Medical Billing Software Market by End-user, 2020 - 2023, USD Million
- TABLE 21 North America Medical Billing Software Market by End-user, 2024 - 2031, USD Million
- TABLE 22 North America Healthcare Providers Market by Country, 2020 - 2023, USD Million
- TABLE 23 North America Healthcare Providers Market by Country, 2024 - 2031, USD Million
- TABLE 24 North America Healthcare Payers Market by Country, 2020 - 2023, USD Million
- TABLE 25 North America Healthcare Payers Market by Country, 2024 - 2031, USD Million
- TABLE 26 North America Other End-user Market by Country, 2020 - 2023, USD Million
- TABLE 27 North America Other End-user Market by Country, 2024 - 2031, USD Million
- TABLE 28 North America Medical Billing Software Market by Country, 2020 - 2023, USD Million
- TABLE 29 North America Medical Billing Software Market by Country, 2024 - 2031, USD Million
- TABLE 30 US Medical Billing Software Market, 2020 - 2023, USD Million
- TABLE 31 US Medical Billing Software Market, 2024 - 2031, USD Million
- TABLE 32 US Medical Billing Software Market by Billing Type, 2020 - 2023, USD Million
- TABLE 33 US Medical Billing Software Market by Billing Type, 2024 - 2031, USD Million
- TABLE 34 US Medical Billing Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 35 US Medical Billing Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 36 US Medical Billing Software Market by End-user, 2020 - 2023, USD Million
- TABLE 37 US Medical Billing Software Market by End-user, 2024 - 2031, USD Million
- TABLE 38 Canada Medical Billing Software Market, 2020 - 2023, USD Million
- TABLE 39 Canada Medical Billing Software Market, 2024 - 2031, USD Million
- TABLE 40 Canada Medical Billing Software Market by Billing Type, 2020 - 2023, USD Million
- TABLE 41 Canada Medical Billing Software Market by Billing Type, 2024 - 2031, USD Million
- TABLE 42 Canada Medical Billing Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 43 Canada Medical Billing Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 44 Canada Medical Billing Software Market by End-user, 2020 - 2023, USD Million
- TABLE 45 Canada Medical Billing Software Market by End-user, 2024 - 2031, USD Million
- TABLE 46 Mexico Medical Billing Software Market, 2020 - 2023, USD Million
- TABLE 47 Mexico Medical Billing Software Market, 2024 - 2031, USD Million
- TABLE 48 Mexico Medical Billing Software Market by Billing Type, 2020 - 2023, USD Million
- TABLE 49 Mexico Medical Billing Software Market by Billing Type, 2024 - 2031, USD Million
- TABLE 50 Mexico Medical Billing Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 51 Mexico Medical Billing Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 52 Mexico Medical Billing Software Market by End-user, 2020 - 2023, USD Million
- TABLE 53 Mexico Medical Billing Software Market by End-user, 2024 - 2031, USD Million
- TABLE 54 Rest of North America Medical Billing Software Market, 2020 - 2023, USD Million
- TABLE 55 Rest of North America Medical Billing Software Market, 2024 - 2031, USD Million
- TABLE 56 Rest of North America Medical Billing Software Market by Billing Type, 2020 - 2023, USD Million
- TABLE 57 Rest of North America Medical Billing Software Market by Billing Type, 2024 - 2031, USD Million
- TABLE 58 Rest of North America Medical Billing Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 59 Rest of North America Medical Billing Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 60 Rest of North America Medical Billing Software Market by End-user, 2020 - 2023, USD Million
- TABLE 61 Rest of North America Medical Billing Software Market by End-user, 2024 - 2031, USD Million
- TABLE 62 key information - Kareo, Inc.
- TABLE 63 Key Information - GE HealthCare Technologies, Inc.
- TABLE 64 Key Information - Athenahealth, Inc.
- TABLE 65 Key information - Quest Diagnostics Incorporated
- TABLE 66 Key Information - Epic Systems Corporation
- TABLE 67 Key Information - Oracle Corporation
- TABLE 68 Key Information - Cognizant Technology Solutions Corporation
- TABLE 69 Key Information - SAP SE
- TABLE 70 Key Information - Nextgen healthcare, inc.
- TABLE 71 Key Information - Microsoft Corporation
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