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Revenue Cycle Management Market

Global Revenue Cycle Management Market Share, Size, Trends, Report: By Structure: In-House, Outsource; By Component: Software, Services; By Deployment Models: Web based, Cloud based, On-Premises; By Function: Claims and denial Management, Others; By End User; Regional Analysis; Patent Analysis; Supplier Landscape; 2024-2032

Global Revenue Cycle Management Market Outlook

The global revenue cycle management market value was USD 136.66 billion in 2023, driven by the increasing volume of patient data across the globe. The market size is anticipated to grow at a CAGR of 12.2% during the forecast period of 2024-2032 to achieve a value of USD 385.10 billion by 2032.

 

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.

 

revenue cycle management market by region

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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 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:

  • Structure
  • Component
  • Deployment Models
  • Function
  • End User
  • Region
Breakup by Structure
  • In-House
  • Outsource
Breakup by Component
  • Software
  • Services
Breakup by Deployment Models
  • Web based
  • Cloud based
  • On-Premises
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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Allscripts Healthcare, LLC
  • Cerner Corporation
  • Epic Systems Corporation
  • Conifer Health Solutions, LLC
  • Bio-Rad Laboratories Inc.
  • MEDHOST
  • Medical Information Technology, Inc.
  • Optum Inc.
  • McKesson Corporation
  • eClinicalWorks
  • NXGN Management, LLC
  • CareCloud Corporation
  • Quest Diagnostics, Inc.
  • R1 RCM, Inc.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Revenue Cycle Management Market Overview 

    3.1    Global Revenue Cycle Management Historical Value (2017-2023) 
    3.2    Global Revenue Cycle Management Forecast Value (2024-2032)
4    Global Revenue Cycle Management Market Landscape
    4.1    Global Revenue Cycle Management Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Revenue Cycle Management Product Landscape
        4.2.1    Analysis by Structure
        4.2.2    Analysis by Component
        4.2.3    Analysis by End User
5    Global Revenue Cycle Management Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
6    Global Revenue Cycle Management Market Segmentation
    6.1    Global Revenue Cycle Management Market by Structure
        6.1.1    Market Overview
        6.1.2    In-House
        6.1.3    Outsource
    6.2    Global Revenue Cycle Management Market by Component
        6.2.1    Market Overview
        6.2.2    Software
        6.2.3    Services
    6.3    Global Revenue Cycle Management Market by Deployment Models
        6.3.1    Market Overview
        6.3.2    Web based
        6.3.3    Cloud based
        6.3.4    On-Premises
    6.4    Global Revenue Cycle Management Market by Function
        6.4.1    Market Overview
        6.4.2    Claims and denial Management
        6.4.3    Medical Coding and Billing 
        6.4.4    Clinical Documentation Improvement (CDI)
        6.4.5    Insurance
        6.4.6    Others
    6.5    Global Revenue Cycle Management Market by End User
        6.5.1    Market Overview
        6.5.2    Hospitals
        6.5.3    Physicians Practices
        6.5.4    Diagnostic and Ambulatory Care Centres
        6.5.5    Others
    6.6    Global Revenue Cycle Management Market by Region
        6.6.1    Market Overview
        6.6.2    North America 
        6.6.3    Europe
        6.6.4    Asia Pacific
        6.6.5    Latin America
        6.6.6    Middle East and Africa
7    North America Revenue Cycle Management Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Revenue Cycle Management Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Revenue Cycle Management Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Revenue Cycle Management Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Revenue Cycle Management Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Patent Analysis
    12.1    Analysis by Type of Patent
    12.2    Analysis by Publication year
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Patent Age
    12.5    Analysis by CPC Analysis
    12.6    Analysis by Patent Valuation 
    12.7    Analysis by Key Players
13    Funding Analysis
    13.1    Analysis by Funding Instances
    13.2    Analysis by Type of Funding
    13.3    Analysis by Funding Amount
    13.4    Analysis by Leading Players
    13.5    Analysis by Leading Investors
    13.6    Analysis by Geography
14    Partnership and Collaborations Analysis
    14.1    Analysis by Partnership Instances
    14.2    Analysis by Type of Partnership
    14.3    Analysis by Leading Players
    14.4    Analysis by Geography
15    Regulatory Framework
    15.1    Regulatory Overview
        15.1.1    US FDA
        15.1.2    EU EMA
        15.1.3    INDIA CDSCO
        15.1.4    JAPAN PMDA
        15.1.5    Others
16    Supplier Landscape
    16.1    Allscripts Healthcare, LLC 
        16.1.1    Financial Analysis
        16.1.2    Product Portfolio
        16.1.3    Demographic Reach and Achievements
        16.1.4    Mergers and Acquisitions
        16.1.5    Certifications
    16.2    Cerner Corporation
        16.2.1    Financial Analysis
        16.2.2    Product Portfolio
        16.2.3    Demographic Reach and Achievements
        16.2.4    Mergers and Acquisitions
        16.2.5    Certifications
    16.3    Epic Systems Corporation
        16.3.1    Financial Analysis
        16.3.2    Product Portfolio
        16.3.3    Demographic Reach and Achievements
        16.3.4    Mergers and Acquisitions
        16.3.5    Certifications
    16.4    Conifer Health Solutions, LLC
        16.4.1    Financial Analysis
        16.4.2    Product Portfolio
        16.4.3    Demographic Reach and Achievements
        16.4.4    Mergers and Acquisitions
        16.4.5    Certifications
    16.5    Bio-Rad Laboratories Inc.
        16.5.1    Financial Analysis
        16.5.2    Product Portfolio
        16.5.3    Demographic Reach and Achievements
        16.5.4    Mergers and Acquisitions
        16.5.5    Certifications
    16.6    MEDHOST
        16.6.1    Financial Analysis
        16.6.2    Product Portfolio
        16.6.3    Demographic Reach and Achievements
        16.6.4    Mergers and Acquisitions
        16.6.5    Certifications
    16.7    Medical Information Technology, Inc.
        16.7.1    Financial Analysis
        16.7.2    Product Portfolio
        16.7.3    Demographic Reach and Achievements
        16.7.4    Mergers and Acquisitions
        16.7.5    Certifications
    16.8    Optum Inc.
        16.8.1    Financial Analysis
        16.8.2    Product Portfolio
        16.8.3    Demographic Reach and Achievements
        16.8.4    Mergers and Acquisitions
        16.8.5    Certifications
    16.9    McKesson Corporation
        16.9.1    Financial Analysis
        16.9.2    Product Portfolio
        16.9.3    Demographic Reach and Achievements
        16.9.4    Mergers and Acquisitions
        16.9.5    Certifications
    16.10    eClinicalWorks
        16.10.1    Financial Analysis
        16.10.2    Product Portfolio
        16.10.3    Demographic Reach and Achievements
        16.10.4    Mergers and Acquisitions
        16.10.5    Certifications
    16.11    NXGN Management, LLC
        16.11.1    Financial Analysis
        16.11.2    Product Portfolio
        16.11.3    Demographic Reach and Achievements
        16.11.4    Mergers and Acquisitions
        16.11.5    Certifications
    16.12    CareCloud Corporation
        16.12.1    Financial Analysis
        16.12.2    Product Portfolio
        16.12.3    Demographic Reach and Achievements
        16.12.4    Mergers and Acquisitions
        16.12.5    Certifications
    16.13    Quest Diagnostics, Inc.
        16.13.1    Financial Analysis
        16.13.2    Product Portfolio
        16.13.3    Demographic Reach and Achievements
        16.13.4    Mergers and Acquisitions
        16.13.5    Certifications
    16.14    R1 RCM, Inc.
        16.14.1    Financial Analysis
        16.14.2    Product Portfolio
        16.14.3    Demographic Reach and Achievements
        16.14.4    Mergers and Acquisitions
        16.14.5    Certifications
17    Global Revenue Cycle Management Market- Distribution Model (Additional Insight)
    17.1    Overview 
    17.2    Potential Distributors 
    17.3    Key Parameters for Distribution Partner Assessment 
18    Key Opinion Leaders (KOL) Insights (Additional Insight)
19    Company Competitiveness Analysis (Additional Insight)

    19.1    Very Small Companies
    19.2    Small Companies
    19.3    Mid-Sized Companies
    19.4    Large Companies
    19.5    Very Large Companies
20    Payment Methods (Additional Insight)
    20.1    Government Funded
    20.2    Private Insurance
    20.3    Out-of-Pocket

 

*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The revenue cycle management market was valued at USD 136.66 billion in 2023.

The market is expected to grow at a CAGR of 12.2% from 2024 to 2032 to reach USD a value of USD 385.10 billion by 2032.

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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