Product Code: GVR-1-68038-433-8
Revenue Cycle Management Market Growth & Trends
The global revenue cycle management market size is expected to reach USD 658.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.5% from 2023 to 2030. Growing digitalization of healthcare is driving organizations to adopt healthcare IT solutions such as revenue cycle management (RCM) systems. Unorganized data siloes generated from multiple healthcare functionalities and the increasing need to streamline workflows to enhance productivity and efficiency are driving the adoption of RCM systems and propelling market growth.
The existing healthcare systems are transitioning and readily adopting electronic processes for claims management, coding, and reimbursements. The growing digital literacy across the globe and increasing healthcare IT spending coupled with technological advancements in healthcare infrastructure are anticipated to boost the market growth. Rising demand for workflow optimization and favorable regulatory support from government bodies is shaping development and growth. Transforming healthcare systems and constant technological advancements are driving key players to focus on their innovative product development strategies to enhance the patient-provider relationship in healthcare facilities.
Market players are focusing on partnerships and technological collaborations with other players to expand their business footprint and grow their clientele. For instance, in January 2020, Professional Recovery Consultants (PRC) and Continuum Health Technologies entered into a partnership to improve healthcare claims denial management. This partnership includes the combination of PRC's advanced claims services with Continuum Health Technologies' proprietary software-Patient Estimator and Denial Challenger-which automate follow-ups on active receivables, reduce claim denials, and offer pricing transparency during the claim's lifecycle. The partnership is expected to offer healthcare providers a cost-effective and automatic way of managing the collection process, along with providing pricing transparency to patients and the industry as a whole.
Similarly, key players are launching innovative product solutions to expand their product portfolio and cater to the growing global demand. For instance, in February 2020, Waystar Health inaugurated Hubble, which is an AI/RPA platform used for automating revenue cycle processes. The Hubble platform increases revenue capture with the help of advanced machine learning and predictive analytics algorithms, which automatically recognize DRG anomalies, missing charges, and coding variances, based on a company's past charging practice, generating millions of net revenues for its clients every year.
Revenue Cycle Management Market Report Highlights
- In 2022, the services segment accounted for major portion of the market owing to growing number of providers outsourcing RCM services
- The integrated segment dominated the market in 2022 owing to the growing demand for a coordinated format to manage various financial activities through a single platform
- Based on delivery mode, the web-based segment held the maximum market share in 2022 owing to numerous benefits offered by web-based solutions over on-premises deployed systems
- The physician back-office segment dominated the market in 2022 owing to the growing number of physician offices in developed countries such as the U.S.
- North America dominated the market in 2022 owing to the presence of well-established, large healthcare facilities and an increasing number of physician offices
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Research Methodology
- 1.3. Information or Data Analysis
- 1.4. Market Formulation & Validation
- 1.5. Model Details
- 1.6. List of Secondary Sources
- 1.7. List of Abbreviations
- 1.8. Objectives
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Segmentation and Scope
- 3.2. Market Lineage Outlook
- 3.2.1. Parent Market Outlook
- 3.2.2. Related/Ancillary Market Outlook
- 3.3. Market Trends and Outlook
- 3.4. Market Driver Analysis
- 3.5. Market Restraint Analysis
- 3.6. Business Environment Analysis
- 3.6.1. PESTLE Analysis
- 3.6.2. Porter's Five Forces Analysis
- 3.7. COVID-19 Impact Analysis
Chapter 4. Revenue Cycle Management Market: Product Estimates & Trend Analysis
- 4.1. Revenue Cycle Management Market: Product Movement Analysis and Market share
- 4.2. Revenue Cycle Management Market: Segment Dashboard
- 4.3. Software
- 4.3.1. Software market, 2018 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services market, 2018 - 2030 (USD Million)
Chapter 5. Revenue Cycle Management Market: Management Type Estimates & Trend Analysis
- 5.1. Revenue Cycle Management Market: Management Type Movement Analysis and Market share
- 5.2. Revenue Cycle Management Market: Segment Dashboard
- 5.3. Integrated
- 5.3.1. Integrated market, 2018 - 2030 (USD Million)
- 5.4. Standalone
- 5.4.1. Standalone market, 2018 - 2030 (USD Million)
Chapter 6. Revenue Cycle Management Market: Delivery Mode Type Estimates & Trend Analysis
- 6.1. Revenue Cycle Management Market: Delivery Mode Type Movement Analysis and Market share
- 6.2. Revenue Cycle Management Market: Segment Dashboard
- 6.3. On-premise
- 6.3.1. On-premise market, 2018 - 2030 (USD Million)
- 6.4. Web-based
- 6.4.1. Web-based market, 2018 - 2030 (USD Million)
- 6.5. Cloud-based
- 6.5.1. Cloud-based market, 2018 - 2030 (USD Million)
Chapter 7. Revenue Cycle Management Market: End-Use Estimates & Trend Analysis
- 7.1. Revenue Cycle Management Market: End-Use Movement Analysis and Market share
- 7.2. Revenue Cycle Management Market: Segment Dashboard
- 7.3. Physician Back Offices
- 7.3.1. Physician back offices market, 2018 - 2030 (USD Million)
- 7.4. Hospitals
- 7.4.1. Hospitals market, 2018 - 2030 (USD Million)
- 7.5. Diagnostic Laboratories
- 7.5.1. Diagnostic laboratories market, 2018 - 2030 (USD Million)
- 7.6. Others
- 7.6.1. Others market, 2018 - 2030 (USD Million)
Chapter 8. Revenue Cycle Management Market: Specialty Estimates & Trend Analysis
- 8.1. Revenue Cycle Management Market: Specialty Movement Analysis and Market share
- 8.2. Revenue Cycle Management Market: Segment Dashboard
- 8.3. Oncology
- 8.3.1. Oncology market, 2018 - 2030 (USD Million)
- 8.4. Cardiology
- 8.4.1. Cardiology market, 2018 - 2030 (USD Million)
- 8.5. Anesthesia
- 8.5.1. Anesthesia market, 2018 - 2030 (USD Million)
- 8.6. Radiology
- 8.6.1. Radiology market, 2018 - 2030 (USD Million)
- 8.7. Pathology
- 8.7.1. Pathology market, 2018 - 2030 (USD Million)
- 8.8. Pain Management
- 8.8.1. Pain management market, 2018 - 2030 (USD Million)
- 8.9. Emergency Service
- 8.9.1. Emergency service market, 2018 - 2030 (USD Million)
- 8.10. Others
- 8.10.1. Others market, 2018 - 2030 (USD Million)
Chapter 9. Revenue Cycle Management Market: Sourcing Estimates & Trend Analysis
- 9.1. Revenue Cycle Management Market: Sourcing Movement Analysis and Market share
- 9.2. Revenue Cycle Management Market: Segment Dashboard
- 9.3. In-house
- 9.3.1. In-house market, 2018 - 2030 (USD Million)
- 9.4. External RCM Apps/ Software
- 9.4.1. External RCM apps/ software market, 2018 - 2030 (USD Million)
- 9.5. Outsourced RCM Services
- 9.5.1. Outsourced RCM services market, 2018 - 2030 (USD Million)
Chapter 10. Revenue Cycle Management Market: Function Estimates & Trend Analysis
- 10.1. Revenue Cycle Management Market: Function Movement Analysis and Market share
- 10.2. Revenue Cycle Management Market: Segment Dashboard
- 10.3. Product Development
- 10.3.1. Product development market, 2018 - 2030 (USD Million)
- 10.4. Member Engagement
- 10.4.1. Member engagement market, 2018 - 2030 (USD Million)
- 10.5. Network Management
- 10.5.1. Network management market, 2018 - 2030 (USD Million)
- 10.6. Care Management
- 10.6.1. Care management market, 2018 - 2030 (USD Million)
- 10.7. Claims Management
- 10.7.1. Claims management market, 2018 - 2030 (USD Million)
- 10.8. Risk and Compliances
- 10.8.1. Risk and compliances market, 2018 - 2030 (USD Million)
Chapter 11. Regional Business Analysis
- 11.1. Revenue Cycle Management Market Share By Region, 2022 & 2030
- 11.2. North America
- 11.2.1. North America Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 11.2.2. U.S.
- 11.2.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.2.2.2. Competitive Scenario
- 11.2.2.3. Regulatory Framework
- 11.2.2.4. U.S. revenue cycle management market, 2018 - 2030 (USD Million)
- 11.2.3. Canada
- 11.2.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.2.3.2. Competitive Scenario
- 11.2.3.3. Regulatory Framework
- 11.2.3.4. Canada revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3. Europe
- 11.3.1. Europe Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 11.3.2. Germany
- 11.3.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.2.2. Competitive Scenario
- 11.3.2.3. Regulatory Framework
- 11.3.2.4. Germany revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.3. UK
- 11.3.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.3.2. Competitive Scenario
- 11.3.3.3. Regulatory Framework
- 11.3.3.4. UK revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.4. France
- 11.3.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.4.2. Competitive Scenario
- 11.3.4.3. Regulatory Framework
- 11.3.4.4. France revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.5. Italy
- 11.3.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.5.2. Competitive Scenario
- 11.3.5.3. Regulatory Framework
- 11.3.5.4. Italy revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.6. Spain
- 11.3.6.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.6.2. Competitive Scenario
- 11.3.6.3. Regulatory Framework
- 11.3.6.4. Spain revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.7. Denmark
- 11.3.7.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.7.2. Competitive Scenario
- 11.3.7.3. Regulatory Framework
- 11.3.7.4. Denmark revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.8. Sweden
- 11.3.8.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.8.2. Competitive Scenario
- 11.3.8.3. Regulatory Framework
- 11.3.8.4. Sweden revenue cycle management market, 2018 - 2030 (USD Million)
- 11.3.9. Norway
- 11.3.9.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.3.9.2. Competitive Scenario
- 11.3.9.3. Regulatory Framework
- 11.3.9.4. Norway revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4. Asia Pacific
- 11.4.1. Asia Pacific Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 11.4.2. Japan
- 11.4.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.2.2. Competitive Scenario
- 11.4.2.3. Regulatory Framework
- 11.4.2.4. Japan revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4.3. China
- 11.4.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.3.2. Competitive Scenario
- 11.4.3.3. Regulatory Framework
- 11.4.3.4. China revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4.4. India
- 11.4.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.4.2. Competitive Scenario
- 11.4.4.3. Regulatory Framework
- 11.4.4.4. India revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4.5. South Korea
- 11.4.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.5.2. Competitive Scenario
- 11.4.5.3. Regulatory Framework
- 11.4.5.4. South Korea revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4.6. Australia
- 11.4.6.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.6.2. Competitive Scenario
- 11.4.6.3. Regulatory Framework
- 11.4.6.4. Australia revenue cycle management market, 2018 - 2030 (USD Million)
- 11.4.7. Thailand
- 11.4.7.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.4.7.2. Competitive Scenario
- 11.4.7.3. Regulatory Framework
- 11.4.7.4. Thailand revenue cycle management market, 2018 - 2030 (USD Million)
- 11.5. Latin America
- 11.5.1. Latin America Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 11.5.2. Brazil
- 11.5.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.5.2.2. Competitive Scenario
- 11.5.2.3. Regulatory Framework
- 11.5.2.4. Brazil revenue cycle management market, 2018 - 2030 (USD Million)
- 11.5.3. Mexico
- 11.5.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.5.3.2. Competitive Scenario
- 11.5.3.3. Regulatory Framework
- 11.5.3.4. Mexico revenue cycle management market, 2018 - 2030 (USD Million)
- 11.5.4. Argentina
- 11.5.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.5.4.2. Competitive Scenario
- 11.5.4.3. Regulatory Framework
- 11.5.4.4. Argentina revenue cycle management market, 2018 - 2030 (USD Million)
- 11.6. MEA
- 11.6.1. MEA Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 11.6.2. South Africa
- 11.6.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.6.2.2. Competitive Scenario
- 11.6.2.3. Regulatory Framework
- 11.6.2.4. South Africa revenue cycle management market, 2018 - 2030 (USD Million)
- 11.6.3. Saudi Arabia
- 11.6.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.6.3.2. Competitive Scenario
- 11.6.3.3. Regulatory Framework
- 11.6.3.4. Saudi Arabia revenue cycle management market, 2018 - 2030 (USD Million)
- 11.6.4. UAE
- 11.6.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.6.4.2. Competitive Scenario
- 11.6.4.3. Regulatory Framework
- 11.6.4.4. UAE revenue cycle management market, 2018 - 2030 (USD Million)
- 11.6.5. Kuwait
- 11.6.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 11.6.5.2. Competitive Scenario
- 11.6.5.3. Regulatory Framework
- 11.6.5.4. Kuwait revenue cycle management market, 2018 - 2030 (USD Million)
Chapter 12. Competitive Landscape
- 12.1. Participant's Overview
- 12.2. Financial Performance
- 12.3. Company Market Position Analysis
- 12.4. Strategy Mapping
- 12.4.1. Expansion
- 12.4.2. Acquisition
- 12.4.3. Collaborations
- 12.4.4. New Product Launches
- 12.4.5. Partnerships
- 12.4.6. Others
- 12.5. Participant's overview
- 12.5.1. The SSI Group, Inc.
- 12.5.1.1. Overview
- 12.5.1.2. Financial Performance
- 12.5.1.3. Product Benchmarking
- 12.5.1.4. Strategic Initiatives
- 12.5.2. Veradigm LLC (Allscripts Healthcare, LLC)
- 12.5.2.1. Overview
- 12.5.2.2. Financial Performance
- 12.5.2.3. Product Benchmarking
- 12.5.2.4. Strategic Initiatives
- 12.5.3. Oracle (Cerner Corporation)
- 12.5.3.1. Overview
- 12.5.3.2. Financial Performance
- 12.5.3.3. Product Benchmarking
- 12.5.3.4. Strategic Initiatives
- 12.5.4. McKesson Corporation
- 12.5.4.1. Overview
- 12.5.4.2. Financial Performance
- 12.5.4.3. Product Benchmarking
- 12.5.4.4. Strategic Initiatives
- 12.5.5. Athenahealth, Inc.
- 12.5.5.1. Overview
- 12.5.5.2. Financial Performance
- 12.5.5.3. Product Benchmarking
- 12.5.5.4. Strategic Initiatives
- 12.5.6. Epic Systems Corporation
- 12.5.6.1. Overview
- 12.5.6.2. Financial Performance
- 12.5.6.3. Product Benchmarking
- 12.5.6.4. Strategic Initiatives
- 12.5.7. eClinicalWorks
- 12.5.7.1. Overview
- 12.5.7.2. Financial Performance
- 12.5.7.3. Product Benchmarking
- 12.5.7.4. Strategic Initiatives
- 12.5.8. NXGN Management, LLC
- 12.5.8.1. Overview
- 12.5.8.2. Financial Performance
- 12.5.8.3. Product Benchmarking
- 12.5.8.4. Strategic Initiatives
- 12.5.9. CareCloud Corporation
- 12.5.9.1. Overview
- 12.5.9.2. Financial Performance
- 12.5.9.3. Product Benchmarking
- 12.5.9.4. Strategic Initiatives
- 12.5.10. Quest Diagnostics, Inc.
- 12.5.10.1. Overview
- 12.5.10.2. Financial Performance
- 12.5.10.3. Product Benchmarking
- 12.5.10.4. Strategic Initiatives
- 12.5.11. R1 RCM, Inc.
- 12.5.11.1. Overview
- 12.5.11.2. Financial Performance
- 12.5.11.3. Product Benchmarking
- 12.5.11.4. Strategic Initiatives