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AI in Medical Billing Market Skyrockets at 25.4% CAGR by 2034

AI in Medical Billing Market Outlook and AI Powered Innovation Trends

Based on market forecasts, the global AI in medical billing market, projected at USD 3.73 billion in 2024, is expected to reach USD 36.37 billion by 2034, growing at a CAGR of 25.4% over the forecast period. The rising adoption of advanced technologies and the increasing number of hospital admissions boost the market. The presence of key players and favorable reimbursement policies contributes to North America’s dominance.

Content

  • Insight Code: 5755
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: June 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Deepa Pandey is a focused and detail-oriented market research professional with growing expertise in the healthcare sector, delivering high-quality insights across therapeutic areas, diagnostics, biotechnology, and healthcare services.

She began her research career at Precedence Research, where she contributed to a wide range of healthcare industry studies, helping build a strong foundation in market intelligence and strategic research. Currently, Deepa plays a critical role at Towards Healthcare, while also extending her research capabilities across Statifacts, supporting cross-industry intelligence initiatives with a focus on healthcare.

Her ability to distill complexity into clarity has made her a trusted contributor to both internal teams and external clients across the healthcare value chain. By combining professionalism with an evolving depth in healthcare research, Deepa consistently adds value to projects that demand critical thinking, market precision, and industry-specific knowledge. Her contributions help organizations navigate the complexities of regulated markets and make data-backed growth decisions.

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FAQ's

The market is projected to grow from USD 4.68 billion in 2025 to USD 36.37 billion by 2034, at a CAGR of 25.4%.

The market is primarily driven by the rising number of hospital admissions, surge in chronic diseases, increased automation of administrative tasks, and the integration of AI with electronic health records

Asia-Pacific is the fastest-growing region due to increased insurance adoption, growing healthcare infrastructure, and government funding for healthcare digitization.

AI-powered automation, natural language processing (NLP) for unstructured data, predictive analytics, and cloud-based billing platforms are revolutionizing the space.

The market is seeing increased M&A activity, strategic partnerships, and technology integrations. Key players are expanding through AI integration in RCM platforms.

According to AKASA, 74% of health systems now automate parts of their revenue cycle, increasing operational efficiency.

Government incentives, compliance mandates, and regulatory support for digital transformation are encouraging AI adoption.

M&A is focused on creating AI-integrated RCM platforms. For example, New Mountain Capital merger of three firms into Smarter Technologies exemplifies how private equity is fueling vertical integration across automation, billing, and AI-driven insights.
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