How big is the market for a medical billing business?

Developed and developing economies are expected to see healthcare spending increase ranging from 2.4% to 7.5% between the year 2018 and 2024, according to the report by Deloitte. The healthcare industry is projected to take a multi-billion dollar leap by 2022. Are the existing resources in the industry enough to meet the projected demands? A significant transition has taken place as expected in the healthcare billing sector just this year. The medical billing outsourcing market was valued at nearly USD 6.3 billion in 2018 and is expected to reach USD 16 billion by 2022.