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Global Revenue Cycle Management Market Share, Size, Trends, Growth, Analysis, Forecast: By Structure: In-House, Outsource; By Component: Software, Services; By Deployment Models: Web-based, Cloud-based, On-premise; By Function: Claims and Denial Management, Others; By End Use; Regional Analysis; Competitive Landscape; 2023-2028

Global Revenue Cycle Management Market Outlook

The global revenue cycle management market attained a value of over USD 262.08 billion in 2022. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 11.80%.

 

Key Trends in the Market

Revenue cycle management is known as the management of the revenue generated from patients throughout their experience and interactions with the healthcare administration. It incorporates medical billing software utilised by healthcare facilities to track patient care episodes from registration and appointment scheduling to the final payment of balances. Further, the revenue cycle incorporates several administrative as well as clinical functions. 

 

  • With the growing presence of well-established healthcare facilities and renowned hospitals in developed and developing economies, the revenue cycle management market is expected to witness growth over the coming years. Large hospitals cater to a vast patient base resulting in greater need for revenue cycle management.
  • The support of various governments in different regions to enable healthcare data exchange along with enhancing the efficiency of healthcare systems is further expected to fuel the market growth of revenue cycle management across the globe.
  • The surging adoption of healthcare IT solutions, the rising need to reduce the cost of healthcare, and increasing spending on healthcare IT are some of the key aspects driving the market growth of revenue cycle management over the forecast period.

 

Market Analysis

Based on structure, the revenue cycle management market can be segmented into in-house and outsource. On the basis of component, the market is categorised into software and services. Based on deployment models, the market is segmented into web-based, cloud-based, and on-premise. On the basis of function, the market is categorised into claims and denial management, medical coding and billing, clinical documentation improvement (CDI), and insurance, among others. Based on end use, the market can be segmented into hospitals, physicians practices, and diagnostic and ambulatory care centres, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

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. The report gives a detailed analysis of the following key players in the global revenue cycle management market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

 

  • Allscripts Healthcare, LLC
  • Cerner Corporation
  • Conifer Health Solutions, LLC
  • Epic Systems Corporation
  • MEDHOST
  • Medical Information Technology, Inc.
  • Optum Inc.
  • Others

 

Market Share by Component

The software component of the revenue cycle management market is holding robust growth across the globe. This is due to the introduction of improved solutions to aid better revenue cycle management at physician’s facilities, and hospitals, among others. Software for revenue cycle management aids in managing vast volumes of data, and the procedure for evaluating data and designing suitable mitigation tasks are straightforward. 

 

With advancements in technology, software capabilities for revenue cycle management are continuously improving, supported by the introduction of automation, customisation, and machine learning. Software is also easily accessible and can be used by healthcare providers located in any region, which is expected to boost the segment growth in the market share over the coming years.

 

Market Share by Region

Geographically, the North American region is expected to augment the revenue cycle management market share on account of the robust presence of physician’s offices, especially in the United States. In countries like the United States, which have a mixed form of healthcare insurance, there is greater demand for revenue cycle management. The increasing demand for healthcare IT solutions like revenue cycle management systems to improve care delivery and boost efficiency is further expected to fuel the market demand for revenue cycle management over the coming years in the region. 

 

Meanwhile, the Asia Pacific is expected to gain momentum in the market growth of revenue cycle management over the coming years on account of the growing digital literacy in the region. The growing initiatives by governments supporting digital transformation in healthcare systems is expected to enhance the market growth of revenue cycle management across the region.

 

Competitive Landscape

Allscripts Healthcare, LLC offers various solutions and services associated with information technology (IT) to assist healthcare organisations across the globe attain visual, clinical, financial, and operational results. The company provides electronic health records (EHR) and solutions for financial management, population health management, and consumers. 

 

Cerner Corporation offers healthcare information technology solutions along with related services. It provides a broad variety of services and solutions which cater to the financial, operational, and clinical requirements of organisations. The solutions offered by the company include critical care, ambulatory, women’s health, acute EHR solutions, customer relationship management, revenue cycle management, and patient engagement.  

 

Conifer Health Solutions, LLC is a healthcare service and solutions company. It is focused on driving better outcomes for healthcare providers as well as patients. It helps various organisations to strengthen their financial performance, transition from volume to value-based care, and enhance the consumer and patient healthcare experience.

 

Other market players include Epic Systems Corporation, MEDHOST, Medical Information Technology, Inc., and Optum Inc., among others.

 

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:

  • Structure
  • Component
  • Deployment Models
  • Function
  • End Use
  • Region
Breakup by Structure
  • In-House
  • Outsource
Breakup by Component
  • Software
  • Services
Breakup by Deployment Models
  • Web-based
  • Cloud-based
  • On-premise
Breakup by Function
  • Claims and Denial Management
  • Medical Coding and Billing
  • Clinical Documentation Improvement (CDI)
  • Insurance
  • Others
Breakup by End Use
  • Hospitals
  • Physicians Practices
  • Diagnostic and Ambulatory Care Centres
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Allscripts Healthcare, LLC
  • Cerner Corporation
  • Conifer Health Solutions, LLC
  • Epic Systems Corporation
  • MEDHOST
  • Medical Information Technology, Inc.
  • Optum Inc.
  • Others

 

*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 Revenue Cycle Management Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Revenue Cycle Management Historical Market (2018-2022) 
    8.3    Global Revenue Cycle Management Market Forecast (2023-2028)
    8.4    Global Revenue Cycle Management Market by Structure
        8.4.1    In-House
            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    Outsource
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Revenue Cycle Management Market by Component
        8.5.1    Software
            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    Services
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Revenue Cycle Management Market by Deployment Models
        8.6.1    Web-based
            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    Cloud-based
            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    On-premise
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Revenue Cycle Management Market by Function
        8.7.1    Claims and Denial Management 
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Medical Coding and Billing 
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Clinical Documentation Improvement (CDI) 
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Insurance 
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Others
    8.8    Global Revenue Cycle Management Market by End Use
        8.8.1    Hospitals
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Physicians Practices
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Diagnostic and Ambulatory Care Centres
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022)
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Others
    8.9    Global Revenue Cycle Management Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    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    Allscripts Healthcare, LLC 
            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    Cerner Corporation 
            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    Conifer Health Solutions, LLC
            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    Epic Systems 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    MEDHOST 
            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    Medical Information Technology, 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    Optum Inc.
            11.2.7.1    Company Overview
            11.2.7.2    Product Portfolio
            11.2.7.3    Demographic Reach and Achievements
            11.2.7.4    Certifications
        11.2.8    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Revenue Cycle Management Market: Key Industry Highlights, 2017 and 2027
2.    Global Revenue Cycle Management Historical Market: Breakup by Structure (USD Million), 2018-2022
3.    Global Revenue Cycle Management Market Forecast: Breakup by Structure (USD Million), 2023-2028
4.    Global Revenue Cycle Management Historical Market: Breakup by Component (USD Million), 2018-2022
5.    Global Revenue Cycle Management Market Forecast: Breakup by Component (USD Million), 2023-2028
6.    Global Revenue Cycle Management Historical Market: Breakup by Deployment Model (USD Million), 2018-2022
7.    Global Revenue Cycle Management Market Forecast: Breakup by Deployment Model (USD Million), 2023-2028
8.    Global Revenue Cycle Management Historical Market: Breakup by Function (USD Million), 2018-2022
9.    Global Revenue Cycle Management Market Forecast: Breakup by Function (USD Million), 2023-2028
10.    Global Revenue Cycle Management Historical Market: Breakup by End Use (USD Million), 2018-2022
11.    Global Revenue Cycle Management Market Forecast: Breakup by End Use (USD Million), 2023-2028
12.    Global Revenue Cycle Management Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Revenue Cycle Management Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Revenue Cycle Management Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Revenue Cycle Management Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Revenue Cycle Management Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Revenue Cycle Management Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Revenue Cycle Management Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Revenue Cycle Management Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Revenue Cycle Management Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Revenue Cycle Management Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Revenue Cycle Management Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Revenue Cycle Management Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Global Revenue Cycle Management Market Structure.

Key Questions Answered in the Report

The market is assessed to grow at a CAGR of 11.80% between 2023 and 2028.

The major market driver is the increase in volume of patients, advantages of digitalisation in healthcare industry, and complex billing and insurance policies of healthcare providers.

The key revenue cycle management market trends include the expansion of large hospital chains, growing adoption of AI in hospitals, and usage of cloud for hospital IT applications.

The structures of revenue cycle management include in-house and outsource.

The primary components of revenue cycle management include software and services.

The various deployment models of revenue cycle management include web-based, cloud-based, and on-premise.

The different functions of revenue cycle management include claims and denial management, medical coding and billing, clinical documentation improvement (CDI), and insurance, among others.

The various end uses of revenue cycle management include hospitals, physicians practices, and diagnostic and ambulatory care centres, among others.

The major players in the market are Allscripts Healthcare, LLC, Cerner Corporation, Conifer Health Solutions, LLC, Epic Systems Corporation, MEDHOST, Medical Information Technology, Inc., and Optum Inc., among others.

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