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Press Release:

Global Revenue Cycle Management Market to Reach US$ 211.51 Billion by 2027, Propelled by the Improving Medical Infrastructure

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Revenue Cycle Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global revenue cycle management market reached a value of US$ 106.93 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 211.51 Billion by 2027, exhibiting a CAGR of 11.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Revenue cycle management (RCM) is a financial process that assists healthcare facilities in collecting payments for medical bills. It also helps minimize costs, manage time, improve patient outcomes, and reduce human error in claim submission processes. It includes registration, pricing, compliance, data analytics, cover scheduling, financial clearance, patient collection, medical coding, claims processing, contract management, payment posting and accounts receivable (A/R) follow-up, and reporting and benchmarking. At present, healthcare providers worldwide are increasingly relying on RCM solutions to centralize billing and coding systems and enable reliable reimbursement and compliance processes.

 

 
 

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Revenue Cycle Management Market Trends:

The rising focus on improving patient care while simultaneously lowering healthcare costs represents one of the major factors encouraging healthcare organizations to outsource RCM solutions. These solutions combine administrative data, such as the personal information, insurer name, and treatment codes of a patient, along with financial billing information. They also provide insurance verification and point-of-service (POS) to overcome reimbursement complexities. Apart from this, the ongoing coronavirus disease (COVID-19) pandemic has increased the need for electronic health record (EHR) systems to enable effective data sharing, which is further contributing to the market growth. Other factors, such as the growing adoption of remote healthcare, the rising medical costs, and the increasing prevalence of chronic illnesses, are also presenting lucrative opportunities to market players across the globe. Moreover, these players are incorporating artificial intelligence (AI) technology and focusing on merger and acquisition (M&A) activities to enhance RCM capabilities, which is anticipated to stimulate the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global revenue cycle management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component, deployment and end user.

Breakup by Type:

 

 
 

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  • Standalone
  • Integrated
     

Breakup by Component:

  • Software
  • Services
     

Breakup by Deployment:

  • Web-based
  • Cloud-based
  • On-premises
     

Breakup by End User:

  • Hospitals
  • Physicians
  • Diagnostic and Ambulatory Care Centers
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare LLC, Athenahealth, CareCloud Inc, Cerner Corporation, Cognizant, EClinicalWorks, Epic Systems Corporation, Experian Information Solutions Inc, GeBBs Healthcare Solutions, General Electric, McKesson Corporation, Oracle Corporation and Quest Diagnostics.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Component, Deployment, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Allscripts Healthcare LLC, Athenahealth, CareCloud Inc, Cerner Corporation, Cognizant, EClinicalWorks, Epic Systems Corporation, Experian Information Solutions Inc, GeBBs Healthcare Solutions, General Electric, McKesson Corporation, Oracle Corporation and Quest Diagnostics.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Revenue Cycle Management Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Standalone
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Integrated
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Component
    7.1    Software
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Services
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Deployment
    8.1    Web-based
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Cloud-based
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    On-premises
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by End User
    9.1    Hospitals
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Physicians
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Diagnostic and Ambulatory Care Centers
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Allscripts Healthcare LLC
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
        15.3.2    Athenahealth
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    CareCloud Inc
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
        15.3.4    Cerner Corporation
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    Cognizant
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    EClinicalWorks
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    Epic Systems Corporation
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 SWOT Analysis
        15.3.8    Experian Information Solutions Inc
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
        15.3.9    GeBBs Healthcare Solutions
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    General Electric
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    McKesson Corporation
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
           15.3.11.4 SWOT Analysis
        15.3.12    Oracle Corporation
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 Financials
           15.3.12.4 SWOT Analysis
        15.3.13    Quest Diagnostics
           15.3.13.1 Company Overview
           15.3.13.2 Product Portfolio
           15.3.13.3 Financials

List of Figures

Figure 1: Global: Revenue Cycle Management Market: Major Drivers and Challenges
Figure 2: Global: Revenue Cycle Management Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Revenue Cycle Management Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Revenue Cycle Management Market: Breakup by Type (in %), 2021
Figure 5: Global: Revenue Cycle Management Market: Breakup by Component (in %), 2021
Figure 6: Global: Revenue Cycle Management Market: Breakup by Deployment (in %), 2021
Figure 7: Global: Revenue Cycle Management Market: Breakup by End User (in %), 2021
Figure 8: Global: Revenue Cycle Management Market: Breakup by Region (in %), 2021
Figure 9: Global: Revenue Cycle Management (Standalone) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Revenue Cycle Management (Standalone) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Revenue Cycle Management (Integrated) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Revenue Cycle Management (Integrated) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Revenue Cycle Management (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Revenue Cycle Management (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Revenue Cycle Management (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Revenue Cycle Management (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Revenue Cycle Management (Web-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Revenue Cycle Management (Web-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Revenue Cycle Management (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Revenue Cycle Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Revenue Cycle Management (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Revenue Cycle Management (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Revenue Cycle Management (Hospitals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Revenue Cycle Management (Hospitals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Revenue Cycle Management (Physicians) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Revenue Cycle Management (Physicians) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Revenue Cycle Management (Diagnostic and Ambulatory Care Centers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Revenue Cycle Management (Diagnostic and Ambulatory Care Centers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: North America: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: North America: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: United States: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: United States: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Canada: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Canada: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Asia-Pacific: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Asia-Pacific: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: China: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: China: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Japan: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Japan: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: India: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: India: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: South Korea: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: South Korea: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Australia: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Australia: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Indonesia: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Indonesia: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Others: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Others: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Europe: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Europe: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Germany: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Germany: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: France: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: France: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: United Kingdom: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: United Kingdom: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Italy: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Italy: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Spain: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Spain: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Russia: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Russia: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Latin America: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Latin America: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Brazil: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Brazil: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Mexico: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Mexico: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Middle East and Africa: Revenue Cycle Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Middle East and Africa: Revenue Cycle Management Market: Breakup by Country (in %), 2021
Figure 77: Middle East and Africa: Revenue Cycle Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Global: Revenue Cycle Management Industry: SWOT Analysis
Figure 79: Global: Revenue Cycle Management Industry: Value Chain Analysis
Figure 80: Global: Revenue Cycle Management Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Revenue Cycle Management Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Revenue Cycle Management Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Revenue Cycle Management Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 4: Global: Revenue Cycle Management Market Forecast: Breakup by Deployment (in Million US$), 2022-2027
Table 5: Global: Revenue Cycle Management Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Revenue Cycle Management Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Revenue Cycle Management Market: Competitive Structure
Table 8: Global: Revenue Cycle Management Market: Key Players


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Key Questions Answered in This Report

The global revenue cycle management market was valued at US$ 106.93 Billion in 2021.

We expect the global revenue cycle management market to exhibit a CAGR of 11.80% during 2022-2027.

The extensive adoption of RCM solutions by numerous healthcare providers to centralize billing and coding systems as well as provide reliable reimbursement and compliance processes, is primarily driving the global revenue cycle management market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for revenue cycle management solutions owing to the growing adoption of electronic health record systems to enable effective data sharing.

Based on the type, the global revenue cycle management market can be bifurcated into standalone and integrated, where integrated RCM currently exhibits a clear dominance in the market.

Based on the component, the global revenue cycle management market has been categorized into software and services. Currently, software holds the majority of the total market share.

Based on the deployment, the global revenue cycle management market can be segmented into web-based, cloud-based, and on-premises. Among these, web-based deployment currently represents the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global revenue cycle management market include Allscripts Healthcare LLC, Athenahealth, CareCloud Inc, Cerner Corporation, Cognizant, EClinicalWorks, Epic Systems Corporation, Experian Information Solutions Inc, GeBBs Healthcare Solutions, General Electric, McKesson Corporation, Oracle Corporation, and Quest Diagnostics.

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