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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.
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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:
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| Breakup by Structure |
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| Breakup by Component |
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| Breakup by Deployment Models |
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| Breakup by Function |
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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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| Supplier Landscape |
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| Companies Covered |
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*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
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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