Revenue Cycle Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global revenue cycle management market reached a value of US$ 106.93 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 211.51 Billion by 2027, exhibiting a CAGR of 11.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Revenue cycle management (RCM) is a financial process that assists healthcare facilities in collecting payments for medical bills. It also helps minimize costs, manage time, improve patient outcomes, and reduce human error in claim submission processes. It includes registration, pricing, compliance, data analytics, cover scheduling, financial clearance, patient collection, medical coding, claims processing, contract management, payment posting and accounts receivable (A/R) follow-up, and reporting and benchmarking. At present, healthcare providers worldwide are increasingly relying on RCM solutions to centralize billing and coding systems and enable reliable reimbursement and compliance processes.

Revenue Cycle Management Market Trends:
The rising focus on improving patient care while simultaneously lowering healthcare costs represents one of the major factors encouraging healthcare organizations to outsource RCM solutions. These solutions combine administrative data, such as the personal information, insurer name, and treatment codes of a patient, along with financial billing information. They also provide insurance verification and point-of-service (POS) to overcome reimbursement complexities. Apart from this, the ongoing coronavirus disease (COVID-19) pandemic has increased the need for electronic health record (EHR) systems to enable effective data sharing, which is further contributing to the market growth. Other factors, such as the growing adoption of remote healthcare, the rising medical costs, and the increasing prevalence of chronic illnesses, are also presenting lucrative opportunities to market players across the globe. Moreover, these players are incorporating artificial intelligence (AI) technology and focusing on merger and acquisition (M&A) activities to enhance RCM capabilities, which is anticipated to stimulate the market growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global revenue cycle management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component, deployment and end user.

Breakup by Type:
Standalone
Integrated

Breakup by Component:
Software
Services

Breakup by Deployment:
Web-based
Cloud-based
On-premises

Breakup by End User:
Hospitals
Physicians
Diagnostic and Ambulatory Care Centers

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare LLC, Athenahealth, CareCloud Inc, Cerner Corporation, Cognizant, EClinicalWorks, Epic Systems Corporation, Experian Information Solutions Inc, GeBBs Healthcare Solutions, General Electric, McKesson Corporation, Oracle Corporation and Quest Diagnostics.



Key Questions Answered in This Report:
How has the global revenue cycle management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global revenue cycle management market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global revenue cycle management market and who are the key players?
What is the degree of competition in the industry?