Procurement Market Intelligence Report
Billing Services
Sourcing Guide & Market Intelligence
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Billing Services Global Overview
Definition
Summary
This report is intended to assist buyers of billing services. Suppliers collect invoice information from buyers and generate bills on their behalf. Additionally, vendors collect bill payments from the buyer’s clients and pursue the payment of denied or delinquent bills. The collected payments are then remitted back to the buyer. The majority of billing services are for medical services.
This Report Includes:
- Closed Billing Services
- Isolated Billing Services
- Open Billing Services
Not in this Report:
- Medical Coding
- Debt Collection Services
- Invoice Factoring
Global Billing Services Procurement Trends
Discover the top international trends affecting procurement in the global Billing Services market.
Warning Trends
Fed lowers rates for the first time in 2025
- On September 17, the Federal Reserve’s Federal Open Market Committee (FOMC) voted to lower interest rates to a target range of 4.0% to 4.25%, down 0.25% from the rate it had been holding since November of last year.
- Despite indications at the start of the year that steady reductions to the relatively high 4.25% to 4.5% rate were on the horizon, the Fed held off on rate cuts for much of the year due to concerns that the combination of higher tariffs and a reduction in borrowing costs could cause rebounding inflation.
- The September cut to Fed interest rates signals a shift in this strategy, indicating that the Fed now considers weakening employment figures a greater threat than inflation. As a result, FOMC officials have also signaled that two additional rate cuts are likely before the end of the year in an effort to fight unemployment and stimulate the economy.
- Declining Fed funds rates will provide relief to borrowers by lowering the market interest rates for consumer and business loans. This reduction in the cost of borrowing will reduce the cost of many banking and financial services, and may spur increases in demand across the economy.
Neutral
Inflation climbs above 3.0% for the first time in seven months
- In January, the Consumer Price Index (CPI) 12-month inflation rate, the most commonly used measure of inflation, rose by 0.1% to 3.0%, the highest it has been since June 2024.
- This uptick in inflation follows cuts to interest rates which may have added to consumer demand, fueling higher consumer prices.
- Additionally, the threat of impending tariff hikes has driven preemptive stockpiling by importers, adding to demand and price growth across a range of industries in the United States.
- While inflation is still low relative to previous years, sustained recent increases in inflation and the potential effects of tariffs, such as the recently implemented 10.0% on all Chinese goods, mean prices are still rising at a faster-than-normal pace.
Global Billing Services Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 Europe | 48,100 |
| #2 China | 42,210 |
| #3 United States | 30,000 |
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2
Geography Drilldown - US
Average Cost of Billing Services
United States
2026 Market Pricing$3.00 to $XX.XX
of collected bill amount for medical billingAverage Price
Prices in the Billing Services market range from $3.00 to $XX.XX, depending on Complexity of service, Total volume of bills, Average bill size and Expertise and reputation of service provider. For example, lower prices are associated with Simple invoicing and payment reminders (4.00% to 6.00% of collected bill amount), whereas higher prices are associated with Comprehensive services (9.00% to 11.00% of collected bill amount).
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Billing Services Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Billing Services market, prices in the US have grown 0.1% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Billing Services
Total cost of ownership is Low in the Billing Services market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs.
Negotiated Before
Financing
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to 1.3 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Recent Price Volatility. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Low, which has a positive impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Computer & Packaged Software Wholesalers
- IT Consulting Firms
- Accounting Services Providers
2nd
Tier Suppliers
- Business Analytics & Enterprise Software Publishers
- Computer Manufacturers
- Operating Systems & Productivity Software Publishers
- Commercial Real Estate Lessors
Biggest Billing Services Suppliers in the US by Revenue
The largest Billing Services vendors by revenue in the US are Paya, Inc., Billing Services Group Ltd and MB Medical Billing Services Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Marsh & Mclennan Companies, Inc. | Global | NEW YORK | >10,000 | < 5 | ||||
| Aon Plc | DUBLIN 2 | >10,000 | < 5 | |||||
| Willis Towers Watson Plc | Global | LONDON ENGLAND | >10,000 | < 5 | ||||
| Gainwell Technologies LLC | National | Conway, AR | >10,001 | < 5 | ||||
| Revspring, Inc. | National | Livonia, MI | 501-1,000 | < 5 | ||||
| Newtek Business Services Corp. | National | BOCA RATON | 101-250 | < 5 | ||||
| Billing Services Group Ltd | National | US | < 5 | |||||
| MB Medical Billing Services Inc. | Regional | Newport Beach, CA | <25 | < 5 | ||||
| Multifamily Ancillary Group | National | Irvine, CA | 251-500 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Billing Services market is 17.9% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Overhead. The cost trend for this component is rising, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
The four largest vendors of billing services account for less than 30.0% of total market revenue, representing a low level of market share concentration.
The supply chain risk for billing services is low because these services are labor intensive, so suppliers do not depend on the availability of critical inputs to function. As such, upstream suppliers do not present too much risk to this market’s supply chains despite the coronavirus pandemic.
Ultimately, diversified demand for billing services creates a healthy and stable market for services, thus contributing to a low level of financial risk for vendors. However, the coronavirus pandemic has increased risk in downstream industries because coronavirus-related appointments and treatments are currently not being billed to patients, thus limiting demand and revenue from the healthcare segment.
The United States is a net importer of computers, meaning it imports more computers than it exports. While lower manufacturing costs abroad drive down prices for imported computers, relying on imports can lead to potential shortages or price increases if there are supply chain disruptions due to geopolitical tensions, trade disputes, or global crises
Supplier Information
Aon Plc
Aon plc is engaged in the marketing and servicing of a range of management and financial services spanning risk managementm insurance and reinsurance brokerage, and human resource consulting and outsourcing. Its business is divided into two segments: Risk Solutions (risk management through insurance advisory,... Subscribe to learn more
Billing Services Group Ltd
Billing Services Group Ltd is a private company operating nationally in the professional, scientific & technical services sector. The company's offerings include billing services. Founded in 2005, the company is currently headquartered in San Antonio, Texas, United States of America with an estimated 175 Subscribe to learn more
Gainwell Technologies LLC
Gainwell Technologies LLC is a private company operating nationally in the finance & insurance and professional, scientific & technical services sectors. The company's offerings include billing services and insurance claims processing services. Founded in 2009, the company is currently headquartered in Conway,... Subscribe to learn more
Marsh & Mclennan Companies, Inc.
Marsh & McLennan Companies, Inc. is an insurance and advisory services provider to commercial and consumer clients. It organizes its products into two segments: the Risk and Insurance Services segment, which delivers risk management activities, insurance, and reinsurance broking and services, and the Consulting... Subscribe to learn more
MB Medical Billing Services Inc.
MB Medical Billing Services Inc. is a private company operating regionally in the professional, scientific & technical services sector. The company's offerings include billing services. Founded in 2000, the company is currently headquartered in Newport Beach, California, United States of America with an estimated... Subscribe to learn more
Multifamily Ancillary Group
Multifamily Ancillary Group is a private company operating nationally in the professional, scientific & technical services sector. The company's offerings include billing services. Founded in 1964, the company is currently headquartered in Irvine, California, United States of America with an estimated 333... Subscribe to learn more
Newtek Business Services Corp.
NewtekOne, Inc. is a financial holding company that provides business and financial solutions under the Newtek® and NewtekOne® brands to the independent business owner (small- and medium-sized business) market. Its offerings include NewTracker®, a patented prospect management software to acquire business Subscribe to learn more
Paya, Inc.
Paya, Inc. is a public company operating internationally in the professional, scientific & technical services sector. The company's offerings include billing services. Founded in 2011, the company is currently headquartered in Dayton, Ohio, United States of America with an estimated 175 employees. Subscribe to learn more
Revspring, Inc.
Revspring, Inc. is a private company operating nationally in the professional, scientific & technical services sector. The company's offerings include billing services. Founded in 1997, the company is currently headquartered in Livonia, Michigan, United States of America with an estimated 750 employees. Subscribe to learn more
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Procurement Management KPIs for the Billing Services Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Current Ratio (Assets/Liabilities) and Customer Retention Rate. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Accuracy of Billing and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Current Ratio (Assets/Liabilities) |
|
Current assets Current liabilities |
The current ratio represents a company’s liquidity. The current ratio can be used to determine a company’s ability to utilize its current assets to satisfy its current liabilities. |
| Customer Retention Rate |
|
Client testimonials Press reports |
Vendors with a higher customer retention rate indicate a higher quality of service. The customer retention rate can determine the extent to which a company’s customer base fluctuates over time. |
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Vendor Financial Risk
What is the average number of days an unpaid bill stays in accounts receivable?
How much does your average client have paid in 60 days? In 120 days?
Supply Chain Risk
Do you source materials with a high exposure to market disruptions resulting from the pandemic? How are you coping with these disruptions?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
Experience and Expertise
How many years has your business provided billing services?
How many years has your business provided billing services for our niche market?
The ultimate prep for procurement negotations
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Billing Services RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should give a brief company overview and detail the scope of its operations.
Buyers should highlight their number of employees or number of physicians specifically for those in the medical industries.
Statement Of Need
Buyers should explain what types of services or products they will be billing.
Buyers should give an estimate of the amount of their average bill.
Project Budget
A buyer's estimate for their average bill amount and number of bills per year will dictate what percentage a vendor is willing to charge.
Buyers should state the desired length of contract.
The RFP process made easy
Find out how you can access RFP templates for 800+ procurement categories to start writing better, more consistent RFPs.
We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
