Product Code: SR1523A214_Report
The global revenue cycle management market size reached US$ 121.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 233.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.4% during 2023-2028.
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:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global revenue cycle management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component, deployment and end user.
Breakup by Type:
Breakup by Component:
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:
- 1. What was the size of the global revenue cycle management market in 2022?
- 2. What is the expected growth rate of the global revenue cycle management market during 2023-2028?
- 3. What are the key factors driving the global revenue cycle management market?
- 4. What has been the impact of COVID-19 on the global revenue cycle management market?
- 5. What is the breakup of the global revenue cycle management market based on the type?
- 6. What is the breakup of the global revenue cycle management market based on the component?
- 7. What is the breakup of the global revenue cycle management market based on the deployment?
- 8. What are the key regions in the global revenue cycle management market?
- 9. Who are the key players/companies in the global revenue cycle management market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Revenue Cycle Management Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Standalone
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Integrated
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Component
- 7.1 Software
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Services
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Deployment
- 8.1 Web-based
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Cloud-based
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 On-premises
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by End User
- 9.1 Hospitals
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Physicians
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Diagnostic and Ambulatory Care Centers
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Allscripts Healthcare LLC
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.2 Athenahealth
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 CareCloud Inc
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Cerner Corporation
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Cognizant
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 EClinicalWorks
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Epic Systems Corporation
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 SWOT Analysis
- 15.3.8 Experian Information Solutions Inc
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.9 GeBBs Healthcare Solutions
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 General Electric
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.10.4 SWOT Analysis
- 15.3.11 McKesson Corporation
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.12 Oracle Corporation
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.12.3 Financials
- 15.3.12.4 SWOT Analysis
- 15.3.13 Quest Diagnostics
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.13.3 Financials