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Global Healthcare Revenue Cycle Management Outsourcing Market: By Type: Pre-intervention, Intervention, Post-intervention; By Services; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Healthcare Revenue Cycle Management Outsourcing Market Outlook
The global market for healthcare revenue cycle management outsourcing reached a value of about USD 20.4 billion in 2021. The market is further expected to grow at a CAGR of about 7.30% in the forecast period of 2023-2028 to reach a value of around USD 53.14 billion by 2027, owing to the stringent regulations by the government.
North America to be a Significant Regional Market for Healthcare Revenue Cycle Management Outsourcing
During the forecast period, North America is expected to dominate the healthcare revenue cycle management outsourcing market due to the increasing number of medical institutions and the rising adoption of advanced technologies, including electric health record (EHR) systems and hospital information systems. Countries like the United States are witnessing an exponential increase in healthcare costs and outsourcing. RCM is one of the most effective means to decrease costs for patients and healthcare providers. The growth can also be attributed to the factors such as significant changes in regulations that have largely affected the finances, organisation, and delivery of healthcare services.
The majority of healthcare providers are implementing revenue cycle management (RCM) systems to shorten the time it takes to get paid after providing a service in the region. For instance, R1 RCM Inc., a leading provider of technology-enabled revenue cycle management services to healthcare providers, announced in June 2020 that it acquired Cerner Corporation’s RCM outsourcing business Cerner RevWorks. As part of the transaction, Cerner will extend R1’s comprehensive revenue cycle capabilities and expertise to Cerner clients and new prospects, helping drive sustainable financial improvements for providers while enhancing their patients’ overall experience.
Hospitals and Clinics Expected to Lead the Market Growth
The hospitals and clinics segment is expected to hold a significant market revenue share. An increasing number of hospitals opting for RCM services to manage financial challenges and patient delivery is driving the segment growth. Hospitals face financial management challenges, which necessitate faster billings. Thus, market leaders are incorporating major advances in non-clinical technology, such as lower operational expenses, to save money. As a result, the healthcare market for revenue cycle management outsourcing has grown.
Market Segmentations
Revenue cycle management (RCM) refers to a financial process that manages payments, claims, and revenue creation. It is used by medical billing companies or healthcare facilities to address difficulties and monitor the claims process. It also aids the maintenance of billing processes and the reduction of running costs for office infrastructure, software, and equipment.
Based on type, the market is divided into:
- Pre-intervention
- Intervention
- Post-intervention
The services provided by the market are:
- Back-end
- Middle
- Front-end
The end-uses of the market are:
- Hospitals and Clinics
- Ambulatory Surgery Centres
- Others
The regional markets for healthcare revenue cycle management outsourcing can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Stringent Regulations by Government Propelling the Market Growth
Governments in numerous countries have implemented stringent healthcare laws in recent years, significantly increasing the operational costs of healthcare facilities and medical billing firms. This has created opportunities for outsourcing firms to assist them with revenue cycle management, which is a major factor accelerating the growth of the global healthcare revenue cycle management outsourcing market. Increasing the adoption of revenue management tools to minimise medical errors is also propelling the market growth. The rising industrialisation and urbanisation rates, the rapid rise in the prevalence of diseases across the globe, rising demand for quality healthcare services, increasing geriatric population, and rising medical institutions are some of the key factors driving the global market growth. Moreover, technological advancements and modernisation in the healthcare sector will create new opportunities for the global market in the forecast period.
Key Players in the Global Market for Healthcare Revenue Cycle Management Outsourcing
The report gives a detailed analysis of the following key players in the global healthcare revenue cycle management outsourcing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ZH Healthcare, Inc.
- R1 RCM, Inc.
- AdvantEdge Healthcare Solutions.
- Cognizant Technology Solutions Corporation
- IBM Corporation
- Pulse Systems Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Services |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Healthcare Revenue Cycle Management Outsourcing Market Analysis
8.1 Key Industry Highlights
8.2 Global Healthcare Revenue Cycle Management Outsourcing Historical Market (2018-2022)
8.3 Global Healthcare Revenue Cycle Management Outsourcing Market Forecast (2023-2028)
8.4 Global Healthcare Revenue Cycle Management Outsourcing Market by Type
8.4.1 Pre-intervention
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Intervention
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Post-intervention
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Healthcare Revenue Cycle Management Outsourcing Market by Services
8.5.1 Back-end
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Middle
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Front-end
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Healthcare Revenue Cycle Management Outsourcing Market by End Use
8.6.1 Hospitals and Clinics
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Ambulatory Surgery Centres
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Healthcare Revenue Cycle Management Outsourcing Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 ZH Healthcare, Inc.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 R1 RCM, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 AdvantEdge Healthcare Solutions.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Cognizant Technology Solutions Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 IBM Corporation
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Pulse Systems Inc.
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Healthcare Revenue Cycle Management Outsourcing Market: Key Industry Highlights, 2018 and 2028
2. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Services (USD Billion), 2018-2022
5. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Services (USD Billion), 2023-2028
6. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Healthcare Revenue Cycle Management Outsourcing Market Structure
Key Questions Answered in the Report
In 2021, the global healthcare revenue cycle management outsourcing market attained a value of nearly USD 20.4 billion.
The market is projected to grow at a CAGR of 7.30% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach USD 53.14 billion by 2027.
The major drivers of the market include the rising industrialisation and urbanisation rates, rising demand for quality healthcare services, increasing geriatric population, rising medical institutions, technological advancements, and modernisation in the healthcare sector.
Stringent regulations by the government and the rapid rise in the prevalence of diseases across the globe are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Based on type, the market is divided into pre-intervention, intervention, and post-intervention.
The services provided by the market are back-end, middle, and front-end.
The end-uses of the market are hospitals and clinics, and ambulatory surgery centres, among others.
The major players in the industry are ZH Healthcare, Inc., R1 RCM, Inc., AdvantEdge Healthcare Solutions., Cognizant Technology Solutions Corporation, IBM Corporation, and Pulse Systems Inc., among others.
Analyst Review
The global healthcare revenue cycle management outsourcing market attained a value of nearly USD 20.4 billion, driven by the stringent regulations by the government. Aided by the rising medical institutions and prevalence of diseases across the globe, the market is expected to grow at a CAGR of 7.30% in the forecast period of 2023-2028. The market is estimated to reach USD 53.14 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into pre-intervention, intervention, and post-intervention. The services provided by the market are back-end, middle, and front-end. The end-uses of the market are hospitals and clinics, and ambulatory surgery centres, among others. The major regional markets for healthcare revenue cycle management outsourcing are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are ZH Healthcare, Inc., R1 RCM, Inc., AdvantEdge Healthcare Solutions., Cognizant Technology Solutions Corporation, IBM Corporation, and Pulse Systems Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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