DUBLIN–(BUSINESS WIRE)–The “Revenue Cycle Management (RCM) Global Market Report 2022: Ukraine-Russia War Impact” report has been added to ResearchAndMarkets.com’s offering.
The global revenue cycle management market is expected to grow from $90.24 billion in 2021 to $102.32 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The revenue cycle management market is expected to grow to $163.45 billion in 2026 at a CAGR of 12.4%.
North America was the largest region in the revenue cycle management market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the revenue cycle management (RCM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types products in revenue cycle management are integrated, and standalone RCM. Standalone RCM refers to complete in itself. The different components include software and services that involve several functions such as claims and denial management, medical coding and billing, electronic health record (EHR), clinical documentation improvement (CDI), insurance, and other functions. The various deployment types include web-based, cloud-based, and on-premises. The various end-users involved are hospitals, general physicians, labs, and others.
Increasing healthcare expenditures is expected to propel the growth of the revenue cycle management market going forward. Health expenditure will include all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid that have been designated for health.
Healthcare facilities are adopting advanced solutions such as revenue cycle management for managing the administrative and clinical functions due to the rise in healthcare expenditure. These solutions are associated with claims processing, payment, and revenue generation. For instance, according to the U.S. Centres for Medicare & Medicaid Services, a US-based federal agency, in 2019, US healthcare spending increased by 4.6% reaching $3.8 trillion or $11,582 per person.
This growth rate is substantially higher than in 2019 (4.3 %). Therefore, the increasing healthcare expenditure is driving the growth of the revenue cycle management market.
Technological advancements are a key trend gaining popularity in the revenue cycle management market. Major companies operating in the revenue cycle management market are focused on developing new technological solutions to strengthen their position. For instance, in June 2022, Olive, a US-based healthcare automation company launched its Autonomous Revenue Cycle (ARC) management suite of solutions that allows healthcare organizations to handle time-consuming administrative tasks using artificial intelligence in the revenue cycle and get paid quicker while reducing the uncompensated care risk. It integrates practice management systems and existing electronic health records.
In August 2020, R1 RCM Inc., a US-based company operating in revenue cycle management acquired Cerner’s revenue cycle business for an amount of $30 million. With this acquisition, R1 and RevWorks are expected to provide enhanced revenue cycle capabilities and expertise to the clients and new prospects, helping drive sustainable financial improvements for providers while improving their patients’ overall experience. Cerner is a US-based company operating in revenue cycle management.
The countries covered in the revenue cycle management (RCM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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1) By Product: Integrated; Standalone
2) By Component: Software; Services
3) By Function: Claims And Denial Management; Medical Coding and Billing; Electronic Health Record (EHR); Clinical Documentation Improvement (CDI); Insurance; Other Functions
4) By Deployment: Web-Based; Cloud-Based; On-Premises
5) By End User: Hospitals; General Physicians; Labs; Other End Users
Key Topics Covered:
1. Executive Summary
2. Revenue Cycle Management Market Characteristics
3. Revenue Cycle Management Market Trends And Strategies
4. Revenue Cycle Management Market – Macro Economic Scenario
5. Revenue Cycle Management Market Size And Growth
6. Revenue Cycle Management Market Segmentation
7. Revenue Cycle Management Market Regional And Country Analysis
8. Asia-Pacific Revenue Cycle Management Market
9. China Revenue Cycle Management Market
10. India Revenue Cycle Management Market
11. Japan Revenue Cycle Management Market
12. Australia Revenue Cycle Management Market
13. Indonesia Revenue Cycle Management Market
14. South Korea Revenue Cycle Management Market
15. Western Europe Revenue Cycle Management Market
16. UK Revenue Cycle Management Market
17. Germany Revenue Cycle Management Market
18. France Revenue Cycle Management Market
19. Eastern Europe Revenue Cycle Management Market
20. Russia Revenue Cycle Management Market
21. North America Revenue Cycle Management Market
22. USA Revenue Cycle Management Market
23. South America Revenue Cycle Management Market
24. Brazil Revenue Cycle Management Market
25. Middle East Revenue Cycle Management Market
26. Africa Revenue Cycle Management Market
27. Revenue Cycle Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Revenue Cycle Management Market
29. Revenue Cycle Management Market Future Outlook and Potential Analysis
- The SSI Group LLC
- Allscripts Healthcare Solutions Inc.
- Experian Health
- R1 RCM Inc.
- McKesson Corporation
- Athenahealth Inc.
- Epic Systems Corporation
- Quest Diagnostics Inc.
- Cerner Corporation
- Constellation Software
- GE Healthcare
- NXGN Management LLC
- CareCloud Corporation
- AdvantEdge Healthcare Solutions
- Huron Consulting Group
- Optum Inc.
- GeBBSHealthcare Solutions
- Infosys Limited
- Oracle Corporation
- Accenture plc
- Conifer Health Solutions LLC.-
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