Product Code: GVR-1-68038-433-8
Revenue Cycle Management Market Growth & Trends:
The global revenue cycle management market size is anticipated to reach at USD 656.7 billion by 2030 and is projected to grow at a CAGR of 11.39% from 2024 to 2030, according to a new report by Grand View Research, Inc. The healthcare industry is experiencing a significant shift towards digitization, which has led to the adoption of healthcare IT solutions such as RCM systems. The use of multiple healthcare functionalities often results in unorganized data silos, which can hinder productivity and efficiency. To overcome these challenges, healthcare organizations are turning to RCM software and services, driving market growth.
The healthcare industry in developing countries is now transitioning from traditional paper-based processes to electronic processes for coding, reimbursements, and claims management. This shift is being driven by the growing digital literacy across the globe, increasing healthcare IT spending, and technological advancements in healthcare infrastructure. In addition, favorable regulatory support from government bodies is further boosting the market growth.
The demand for workflow optimization is on the rise, and this is driving key players in the healthcare industry to focus on innovative product development strategies. The goal is to enhance the patient-provider relationship in healthcare facilities. As healthcare systems continue to transform and technological advancements continue to be made, the adoption of RCM systems is expected to increase.
Market players are focusing on acquisition, partnerships, and technological collaborations with other players to expand their product portfolio and regional presence. For instance, in October 2023, Waystar and Humata Health acquired all of the assets of Olive AI, a healthcare RCM company. With Olive AI's solutions, they can now automate high-volume repetitive administrative workflows in the revenue cycle, including coverage identification and eligibility verification, end-to-end prior authorization, and claims and remittance processing. This acquisition has strengthened their position in the market and will help them provide better services to their clients.
Revenue Cycle Management Market Report Highlights:
- Based on type, the services segment accounted for the largest market share in 2023, owing to growing number of providers outsourcing RCM services
- Based on product, the integrated segment led the market with the largest revenue share of 70.45% in 2023, owing to the growing demand for a coordinated format to manage various financial activities through a single platform
- Based on delivery mode, the web-based segment held the market with the largest revenue share of 52.87% in 2023, owing to numerous benefits offered by web-based solutions over on-premises deployed systems
- Based on end use, the physician back-office segment led the market with the largest revenue share of 37.7% in 2023, owing to the growing number of physician offices in developed countries such as the U.S.
- North America dominated the market with the revenue share of 55.1% in 2023, owing to the presence of well-established, large healthcare facilities and an increasing number of physician offices
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Type
- 1.2.2. Product
- 1.2.3. Delivery Mode
- 1.2.4. End-use
- 1.3. Estimates and Forecast Timeline
- 1.4. Research Methodology
- 1.5. Information Procurement
- 1.5.1. Purchased Database
- 1.5.2. GVR's Internal Database
- 1.5.3. Secondary Sources
- 1.5.4. Primary Research
- 1.6. Information Analysis
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation & Data Visualization
- 1.8. Model Details
- 1.9. List of Secondary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Segmentation and Scope
- 3.2. Market Lineage Outlook
- 3.2.1. Parent Market Outlook
- 3.2.2. Related/Ancillary Market Outlook
- 3.3. Market Trends and Outlook
- 3.4. Market Driver Analysis
- 3.4.1. Increasing Outsourcing of Revenue Cycle Management
- 3.4.2. Technological Advancement
- 3.4.3. Adoption of integrated EHR/RCM system among healthcare facilities
- 3.5. Market Restraint Analysis
- 3.5.1. Lack of Professionals to Handle RCM Processes
- 3.5.2. Increasing Payer Partnerships
- 3.6. Business Environment Analysis
- 3.6.1. PESTLE Analysis
- 3.6.2. Porter's Five Forces Analysis
- 3.7. COVID-19 Impact Analysis
Chapter 4. Revenue Cycle Management Market: Product Estimates & Trend Analysis
- 4.1. Revenue Cycle Management Market: Product Movement Analysis and Market Share
- 4.2. Revenue Cycle Management Market: Segment Dashboard
- 4.3. Software
- 4.3.1. Software market, 2018 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services market, 2018 - 2030 (USD Million)
Chapter 5. Revenue Cycle Management Market: Management Type Estimates & Trend Analysis
- 5.1. Revenue Cycle Management Market: Management Type Movement Analysis and Market Share
- 5.2. Revenue Cycle Management Market: Segment Dashboard
- 5.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.4. Integrated
- 5.4.1. Integrated market, 2018 - 2030 (USD Million)
- 5.5. Standalone
- 5.5.1. Standalone market, 2018 - 2030 (USD Million)
Chapter 6. Revenue Cycle Management Market: Delivery Mode Type Estimates & Trend Analysis
- 6.1. Revenue Cycle Management Market: Delivery Mode Type Movement Analysis and Market Share
- 6.2. Revenue Cycle Management Market: Segment Dashboard
- 6.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.4. On-premise
- 6.4.1. On-premise market, 2018 - 2030 (USD Million)
- 6.5. Web-based
- 6.5.1. Web-based market, 2018 - 2030 (USD Million)
- 6.6. Cloud-based
- 6.6.1. Cloud-based market, 2018 - 2030 (USD Million)
Chapter 7. Revenue Cycle Management Market: End-use Estimates & Trend Analysis
- 7.1. Revenue Cycle Management Market: End-use Movement Analysis and Market Share
- 7.2. Revenue Cycle Management Market: Segment Dashboard
- 7.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 7.4. Physician Back Offices
- 7.4.1. Physician back offices market, 2018 - 2030 (USD Million)
- 7.5. Hospitals
- 7.5.1. Hospitals market, 2018 - 2030 (USD Million)
- 7.6. Diagnostic Laboratories
- 7.6.1. Diagnostic laboratories market, 2018 - 2030 (USD Million)
- 7.7. Others
- 7.7.1. Others market, 2018 - 2030 (USD Million)
Chapter 8. Regional Business Analysis
- 8.1. Regional Market Share Analysis, 2023 & 2030
- 8.2. Regional Market Dashboard
- 8.3. Global Regional Market Snapshot
- 8.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 8.5. North America
- 8.5.1. North America Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 8.5.2. U.S.
- 8.5.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.5.2.2. Competitive Scenario
- 8.5.2.3. Regulatory Framework
- 8.5.2.4. U.S. revenue cycle management market, 2018 - 2030 (USD Million)
- 8.5.3. Canada
- 8.5.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.5.3.2. Competitive Scenario
- 8.5.3.3. Regulatory Framework
- 8.5.3.4. Canada revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6. Europe
- 8.6.1. Europe Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 8.6.2. Germany
- 8.6.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.2.2. Competitive Scenario
- 8.6.2.3. Regulatory Framework
- 8.6.2.4. Germany revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.3. UK
- 8.6.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.3.2. Competitive Scenario
- 8.6.3.3. Regulatory Framework
- 8.6.3.4. UK revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.4. France
- 8.6.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.4.2. Competitive Scenario
- 8.6.4.3. Regulatory Framework
- 8.6.4.4. France revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.5. Italy
- 8.6.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.5.2. Competitive Scenario
- 8.6.5.3. Regulatory Framework
- 8.6.5.4. Italy revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.6. Spain
- 8.6.6.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.6.2. Competitive Scenario
- 8.6.6.3. Regulatory Framework
- 8.6.6.4. Spain revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.7. Denmark
- 8.6.7.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.7.2. Competitive Scenario
- 8.6.7.3. Regulatory Framework
- 8.6.7.4. Denmark revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.8. Sweden
- 8.6.8.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.8.2. Competitive Scenario
- 8.6.8.3. Regulatory Framework
- 8.6.8.4. Sweden revenue cycle management market, 2018 - 2030 (USD Million)
- 8.6.9. Norway
- 8.6.9.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.6.9.2. Competitive Scenario
- 8.6.9.3. Regulatory Framework
- 8.6.9.4. Norway revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7. Asia Pacific
- 8.7.1. Asia Pacific Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 8.7.2. Japan
- 8.7.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.2.2. Competitive Scenario
- 8.7.2.3. Regulatory Framework
- 8.7.2.4. Japan revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7.3. China
- 8.7.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.3.2. Competitive Scenario
- 8.7.3.3. Regulatory Framework
- 8.7.3.4. China revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7.4. India
- 8.7.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.4.2. Competitive Scenario
- 8.7.4.3. Regulatory Framework
- 8.7.4.4. India revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7.5. South Korea
- 8.7.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.5.2. Competitive Scenario
- 8.7.5.3. Regulatory Framework
- 8.7.5.4. South Korea revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7.6. Australia
- 8.7.6.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.6.2. Competitive Scenario
- 8.7.6.3. Regulatory Framework
- 8.7.6.4. Australia revenue cycle management market, 2018 - 2030 (USD Million)
- 8.7.7. Thailand
- 8.7.7.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.7.7.2. Competitive Scenario
- 8.7.7.3. Regulatory Framework
- 8.7.7.4. Thailand revenue cycle management market, 2018 - 2030 (USD Million)
- 8.8. Latin America
- 8.8.1. Latin America Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 8.8.2. Brazil
- 8.8.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.8.2.2. Competitive Scenario
- 8.8.2.3. Regulatory Framework
- 8.8.2.4. Brazil revenue cycle management market, 2018 - 2030 (USD Million)
- 8.8.3. Mexico
- 8.8.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.8.3.2. Competitive Scenario
- 8.8.3.3. Regulatory Framework
- 8.8.3.4. Mexico revenue cycle management market, 2018 - 2030 (USD Million)
- 8.8.4. Argentina
- 8.8.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.8.4.2. Competitive Scenario
- 8.8.4.3. Regulatory Framework
- 8.8.4.4. Argentina revenue cycle management market, 2018 - 2030 (USD Million)
- 8.9. MEA
- 8.9.1. MEA Revenue Cycle Management Market, 2018 - 2030 (USD Million)
- 8.9.2. South Africa
- 8.9.2.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.9.2.2. Competitive Scenario
- 8.9.2.3. Regulatory Framework
- 8.9.2.4. South Africa revenue cycle management market, 2018 - 2030 (USD Million)
- 8.9.3. Saudi Arabia
- 8.9.3.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.9.3.2. Competitive Scenario
- 8.9.3.3. Regulatory Framework
- 8.9.3.4. Saudi Arabia revenue cycle management market, 2018 - 2030 (USD Million)
- 8.9.4. UAE
- 8.9.4.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.9.4.2. Competitive Scenario
- 8.9.4.3. Regulatory Framework
- 8.9.4.4. UAE revenue cycle management market, 2018 - 2030 (USD Million)
- 8.9.5. Kuwait
- 8.9.5.1. Import & export scenario for telecommunications, computer, and information services (USD Billion)
- 8.9.5.2. Competitive Scenario
- 8.9.5.3. Regulatory Framework
- 8.9.5.4. Kuwait revenue cycle management market, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Participant's Overview
- 9.2. Financial Performance
- 9.3. Estimated Company Market Share Analysis, 2023 (%)
- 9.4. Company Market Position Analysis
- 9.5. Strategy Mapping
- 9.5.1. Expansion
- 9.5.2. Acquisition
- 9.5.3. Collaborations
- 9.5.4. New Product Launches
- 9.5.5. Partnerships
- 9.5.6. Others
- 9.6. Company Profiles
- 9.6.1. The SSI Group, Inc.
- 9.6.1.1. Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Strategic Initiatives
- 9.6.2. Veradigm LLC (Allscripts Healthcare, LLC)
- 9.6.2.1. Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Strategic Initiatives
- 9.6.3. Oracle (Cerner Corporation)
- 9.6.3.1. Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Strategic Initiatives
- 9.6.4. McKesson Corporation
- 9.6.4.1. Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Strategic Initiatives
- 9.6.5. Athenahealth, Inc.
- 9.6.5.1. Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Strategic Initiatives
- 9.6.6. Epic Systems Corporation
- 9.6.6.1. Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Strategic Initiatives
- 9.6.7. NXGN Management, LLC
- 9.6.7.1. Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Strategic Initiatives
- 9.6.8. CareCloud Corporation
- 9.6.8.1. Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Strategic Initiatives
- 9.6.9. Quest Diagnostics, Inc.
- 9.6.9.1. Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Strategic Initiatives
- 9.6.10. R1 RCM, Inc.
- 9.6.10.1. Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Strategic Initiatives