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Asia-Pacific Revenue Cycle Management Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • May 2022
  • Asia-Pacific
  • 115 Pages
  • No of Tables: 26
  • No of Figures: 59

Asia-Pacific Revenue Cycle Management Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - 14.4% Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 125.99 Million
Diagram Market Size (Forecast Year) USD 369.61 Million
Diagram CAGR 14.4%

Asia-Pacific Revenue Cycle Management Market, By Product Type (Integrated RCM, Standalone RCM), Deployment (Web-Based, On-Premise, Cloud-Based), Component (Software, Service), Stage (Front Office, Mid Office, Back Office), End-User (Hospitals, General Physicians, Labs) – Industry Trends and Forecast to 2029

Asia-Pacific Revenue Cycle Management Market

Market Analysis and Size

Increasing demand for cloud-based revenue cycle organization solutions paired with a loss of revenue due to billing mistakes is the main driving factor for the development of revenue cycle managements (RCM) market in the near future. Revenue cycle management is the healthcare industry's backbone, and it operates at the well-designed heart of any healthcare organisation, from tiny offices to large hospitals.

Data Bridge Market Research analyses that the revenue cycle management  market which was USD 125.99 million in 2021, would rocket up to USD 369.61 million by 2029, and is expected to undergo a CAGR of 14.4% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

In healthcare, revenue cycle management (RCM) is a technology for managing financial relationships that arise from medical interactions between a patient and the care provider. Hospitals and clinics were treating patients with total care is the primary job. But in current times, due to the increasing patient pool, it is almost incredible to keep manual records of all the patients. Likewise, revenue cycle management software was developed due to digitalization in healthcare. Hospital billing processes are crucial for the management of hospitals. Any financial and claim calculation mistake would lead to billing errors, which leads to costly economic harm to the association.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product Type (Integrated RCM, Standalone RCM), Deployment (Web-Based, On-Premise, Cloud-Based), Component (Software, Service), Stage (Front Office, Mid Office, Back Office), End-User (Hospitals, General Physicians, Labs)

Countries Covered

China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)

Market Players Covered

Quest Diagnostics Incorporated (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Athenahealth Inc. (U.S.), Allscripts Healthcare Solutions Inc. (U.S.), eClinicalWorks LLC (U.S.), CareCloud Corporation (U.S.), The SSI Groups Inc.(Philippines), General Electric (U.S.), Epic Systems Corporation (U.S.), Siemens Healthcare Gmbh (Germany), Kareo Inc. (U.S.)

Market Opportunities

  • RCM opportunities in developing countries are expanding

  • Rising demand for cloud-based revenue cycle management solutions

Asia-Pacific Revenue Cycle Management Market Dynamics

Drivers

  • Increase in healthcare spending

Increase in demand for cloud-based solutions, high costs linked with revenue cycle management deployment, insufficiency of trained professionals, and the upsurge in the market for outsourced revenue cycle management solutions. All these factors collectively generate market growth chances, while some account for limiting the market. Each element is expected to have a definite effect on the market.    

  • Rising Demand For Cloud-based Solutions

The cloud computing model is extensively accepted due to its powerful and flexible infrastructural possibility. Many end-users opt for cloud-based deployment to ease data storage because the cloud provides a remote server accessible over the Internet and access to almost unlimited computing capacity.

  • Growing need for process improvements in healthcare sectors

Increasing expenditure on healthcare is the main factor estimated to drive the global revenue cycle management market in years to come. The standalone type segment is expected to lose its revenue share in coming years owing to collective acceptance of the combined type revenue cycle management system by healthcare proficient and hospitals.

Opportunities

Increasing demand for cloud-based revenue cycle organization solutions paired with a loss of revenue due to billing mistakes is the main driving factor for the development of revenue cycle managements (RCM) market in the near future. Revenue cycle management is the strength of the healthcare sector and works at the well-designed central of a healthcare association reaching from small training to huge hospitals.

Restraints/Challenges

The market's growth is hampered by insufficient investments in the healthcare IT industry, high costs, and a fragmented end-user market. revenue cycle management required ongoing and routine maintenance in order to keep assets safe from failure and more reliable, which slows market development. Trained proffesionals are required for revenue cycle management which enhance the startup cost and ultimately restraints the market growth.

This Asia-Pacific revenue cycle management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Asia-Pacific revenue cycle management  market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Revenue Cycle Management Market

During the COVID-19 pandemic, revenue cycle management plays an active role in checking patients' suitability, which decreases hospital maintenance time during the pandemic. COVID-19 has no substantial negative influence on market growth and is predicted to present several chances for market expansion during the projection period for revenue cycle management. The demand for revenue cycle management solutions and services in hospitals throughout the world is predicted to rise as demand for healthcare solutions and creative patient management rises.

Global Asia-Pacific Revenue Cycle Management Market Scope

The Asia-Pacific revenue cycle management market is segmented on the basis of type, component, deployment application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Type

  • Standalone
  • Integrated

On the basis of type the market is segmented into standalone and integrated.

By Component

  • Software
  • Services

On the basis of component the market is segmented into software and services.

By Deployment

  • Cloud
  • On-premise

On the basis of deployment the market is segmented into cloud and on-premise.

By End-user

  • Hospitals
  • Physicians
  • Diagnostic and ambulatory care centers

On the basis of end user the market is segmented into hospitals, physicians and diagnostic and ambulatory care centers.

Asia-Pacific Revenue Cycle Management  Market Regional Analysis/Insights

The Asia-Pacific revenue cycle management  market is analysed and market size insights and trends are provided by country, type, price range, application and end-user as referenced above.

The countries covered in the Asia-Pacific revenue cycle management  market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).

The Asia-Pacific market is expected to show the fastest market growth due to emerging healthcare infrastructure and increasing medical tourism in the region due to the low cost of treatment.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Asia-Pacific revenue cycle management  market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Asia-Pacific revenue cycle management  market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Asia-Pacific revenue cycle management  market. The data is available for historic period 2010-2020.

Competitive Landscape and Asia-Pacific Revenue Cycle Management  Market Share Analysis

The Asia-Pacific revenue cycle management market competitive landscape provides details by a competitor. Company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific revenue cycle management market.

Some of the major players operating in the revenue cycle management market are:

  • Quest Diagnostics Incorporated (U.S.)
  • Cerner Corporation (U.S.)
  • McKesson Corporation (U.S.)
  • Athenahealth Inc.(U.S.)
  • Allscripts Healthcare Solutions Inc.(U.S.)
  • eClinicalWorks LLC(U.S.)
  • CareCloud Corporation(US)
  • The SSI Groups Inc.(Philippines)
  • General Electric (U.S.)
  • Epic Systems Corporation (U.S.)
  • Siemens Healthcare Gmbh (Germany)
  • Kareo Inc. (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Asia-Pacific Revenue Cycle Management Market value was $369.61 million by 2029
The Revenue Cycle Management Market is projected to grow at a CAGR of 14.4% during the forecast period of 2022-2029.
The focus on the Asia-Pacific Revenue Cycle Management Market report shows the challenges that will be faced i.e. the market's growth is hampered by insufficient investments in the healthcare IT industry, high costs, and a fragmented end-user market.
Asia-Pacific Revenue Cycle Management Market report countries China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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