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The global market for healthcare revenue cycle management outsourcing reached a value of about USD 23.49 billion in 2023. The market is further expected to grow at a CAGR of about 7.3% in the forecast period of 2024-2032 to reach a value of around USD 44.28 billion by 2032, owing to the stringent regulations by the government.
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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.
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.
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.
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Based on type, the market is divided into:
The services provided by the market are:
The end-uses of the market are:
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.
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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.
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:
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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
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 Opportunities and Challenges in the Market
8 Global Healthcare Revenue Cycle Management Outsourcing Market Analysis
8.1 Key Industry Highlights
8.2 Global Healthcare Revenue Cycle Management Outsourcing Historical Market (2018-2023)
8.3 Global Healthcare Revenue Cycle Management Outsourcing Market Forecast (2024-2032)
8.4 Global Healthcare Revenue Cycle Management Outsourcing Market by Type
8.4.1 Pre-intervention
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Intervention
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Post-intervention
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Healthcare Revenue Cycle Management Outsourcing Market by Services
8.5.1 Back-end
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Middle
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Front-end
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Healthcare Revenue Cycle Management Outsourcing Market by End Use
8.6.1 Hospitals and Clinics
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Ambulatory Surgery Centres
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Healthcare Revenue Cycle Management Outsourcing Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Healthcare Revenue Cycle Management Outsourcing Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Healthcare Revenue Cycle Management Outsourcing Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Healthcare Revenue Cycle Management Outsourcing Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Healthcare Revenue Cycle Management Outsourcing Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Healthcare Revenue Cycle Management Outsourcing Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ZH Healthcare, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 R1 RCM, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AdvantEdge Healthcare Solutions.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Cognizant Technology Solutions Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 IBM Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pulse Systems Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Healthcare Revenue Cycle Management Outsourcing Market: Key Industry Highlights, 2018 and 2032
2. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Services (USD Billion), 2018-2023
5. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Services (USD Billion), 2024-2032
6. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Healthcare Revenue Cycle Management Outsourcing Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Healthcare Revenue Cycle Management Outsourcing Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Healthcare Revenue Cycle Management Outsourcing Market Structure
In 2023, the global healthcare revenue cycle management outsourcing market attained a value of nearly USD 23.49 billion.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 44.28 billion by 2032.
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.
The global healthcare revenue cycle management outsourcing market attained a value of nearly USD 23.49 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 7.3% in the forecast period of 2024-2032. The market is estimated to reach USD 44.28 billion by 2032.
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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