Medical Billing Software Market Report 2025 (Global Edition)

Global Medical Billing Software Market Report 2025 Market Size Split by System Type (Closed, Open, Isolated), by End Users (Hospitals, Clinics, Others), by Deployment Type (Cloud, On-Premises), by Fu...

Medical Billing Software Market Report Description

We have various report editions of Medical Billing Software Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Medical Billing Software Market Insights Video

Medical Billing Software Market News:

• November 2021, EverCommerce announced the completion of its acquisition with DrChrono

EverCommerce a leading service commerce platform, announced that it has entered into a definitive agreement to acquire DrChrono Inc., a company developing an essential platform and services for modern medical practices to 

Top Companies Market Share in Medical Billing Software Industry: (In no particular order of Rank)

• Kareo Inc.
• WebPT
• ChiroTouch
• NXGN Management LLC.
• Practice Fusion Inc.
• Brightree LLC
• General Electric
• CentralReach LLC
• EZ Claim
• AdvancedMD Inc
• PointClickCare
• DrChrono Inc.
• Phreesia
• Others
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of Medical Billing Software Market

• North America dominated the medical billing software market in 2022

The dominance of this region is attributed to the presence of prominent key players, some of them include Kareo, TheraBill - WebPT, TherapyNotes, LLC, Athena Health, and Practice Fusion. This is attributed to the rising geriatric patient population, the increasing availability of advanced healthcare facilities, and the rise in investment in research and development for advanced and healthcare-based software. Moreover, the growing number of government initiatives as well as the adoption of rapid technologies has boosted the medical billing software market in this region.

The current report Scope analyzes Medical Billing Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Medical Billing Software Market Analysis

By System Type, The open system type is anticipated to be the fastest-growing segment during the forecast period

During the anticipated period, the open system is anticipated to drive the growth of the medical billing software market as an open medical billing system, as compared to a closed system, emphasizes the value of a synergetic design. Electronic Health Records (EHRs) are used to provide the patient's entire medical information to several practices. Providers, patients, important stakeholders, medical billing teams, insurance payers, third-party suppliers, and numerous healthcare organizations can all access information with ease by using an open system, boosting the market. EHRs are more comprehensive than EMRs when evaluated by a number of healthcare professionals and allow for modification. Due to the freedom, it offers, an open medical billing system is frequently chosen for top-notch healthcare with various divisions. Due to its various uses, the open system is anticipated to be the fastest-growing segment during the forecast period.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Medical Billing Software Industry. Request a Free Sample PDF!

By End User, The hospital segment is expected to dominate over the forecast period

The growing adoption of medical billing outsourcing for better patient care management and the rising demand for hospital finance services is driving the growth of this segment. Furthermore, hospital restructuring also increases the difficulty of the procedures for billing and reimbursement. Hospitals in developing as well as in underdeveloped countries act as primary healthcare sources thus, the registration of patients in hospitals is more therefore, supporting the expansion of the segment.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Medical Billing Software Deployment Type Segment Analysis

By Deployment Type, The cloud-based segment held the largest market share in 2022

In 2022, the cloud-based segment held the largest market share as it eliminates the possibility of data loss. Additionally, the information stored on this cloud-based software is securely encrypted across several servers and has multiple backups due to which the demand for cloud-based software has raised which further boosted the market. Moreover, the cloud-based billing software also provides offline services when the internet connection is down and uploads immediately when the internet connection is restored owing to which the users do not need to be concerned about losing files during natural disasters, fire accidents, or any other situations, thus raised the market growth.

• Cloud
• On-Premises

Medical Billing Software Function Segment Analysis

By Function, The claim management segment is expected to hold the largest market share during the forecast period

The claim management segment is expected to hold the largest market share during the forecast period as electronic claims processing provides less possibility of error and allows for more efficient and faster claim submission. Resubmitting a claim takes a long time, but a solid medical billing system can accelerate the process. The best systems validate claims and claim codes before submission, alerting users to potential issues before filing the claim. AMA has indicated that by using electronic claim processing, the cost of processing can be cut from 14 % of revenue to 1 %, thereby supporting the segment's growth.

• Patient Pre-Registration
• Claims Management
• Accounting and Financial Management
• Billing and Collection
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion