Cloud Banner

Healthcare

Image

Global Revenue Cycle Management (RCM) Market – Industry Trends and Forecast to 2030

  • Healthcare
  • Upcoming Report
  • Mar 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Revenue Cycle Management (RCM) Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 14.000000000000002% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 46.62 Billion
Diagram Market Size (Forecast Year) USD 133.00 Billion
Diagram CAGR 14.000000000000002%

Global Revenue Cycle Management (RCM) Market, By Product Type (Integrated RCM, Standalone RCM), Function (Claims and Denial Management, Medical Coding, and Billing, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Insurance, Others), Deployment (Web-based, On-premise, Cloud-based), Component (Software, Services), End User (Hospitals, General Physicians, Labs, Others) – Industry Trends and Forecast to 2030.

Revenue Cycle Management (RCM) Market Analysis and Size

Revenue cycle management (RCM) software has become essential in all sectors as it automates the several tasks associated with payroll, employee data, and benefits administration. However, the recent growth of the RCM software market is because of the huge growth opportunities created by expanding SMEs across regions. Increasing demand for workflow optimization in healthcare organizations and innovative synchronized management software systems is anticipated to boost market growth.   

Data Bridge Market Research analyses that the revenue cycle management (RCM) market, which was USD 46.62 billion in 2022, would rise to USD 133 billion by 2030 and is expected to undergo a CAGR of 14% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Revenue Cycle Management (RCM) Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Integrated RCM, Standalone RCM), Function (Claims and Denial Management, Medical Coding, and Billing, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Insurance, Others), Deployment (Web-based, On-premise, Cloud-based), Component (Software, Services), End User (Hospitals, General Physicians, Labs, Others)

Countries Covered

U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Oracle Corporation (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), NetSuite Inc. (U.S.), Workday, Inc. (U.S.), ADP, LLC (U.S.), Cornerstone OnDemand (U.S.), Benefitfocus Inc. (U.S.), BambooHR (U.S), PeopleFluent (U.S), Zoho Corporation (India), WebHR (U.S), CakeHR (U.K), Epicor Software Corporation (U.S), Infor (U.S), Kronos Incorporated (U.S), The Sage Group plc. (U.S)

Market Opportunities

  • Increasing Demand for Portable Diagnostics

Market Definition

Revenue cycle management is the management of all administrative and clinical operations that lead to patient service and directly or indirectly to revenue to maximize profits. It allows health providers to increase their income by processing claims. Revenue cycle management includes medical coding, patient registration, payment, A.R. management, insurance eligibility and verification, and claim processing.

Global Revenue Cycle Management (RCM) Market Dynamics

Drivers

  • Increasing Adoption of Cloud-deployed RCM

The delivery mode of RCM being cloud-deployed is increasing due to higher flexibility and increased cost-effectiveness to end-users. Cloud-deployed solutions have made medical data-sharing easy and secure. It automates backend procedures and allows the creation and protection of telehealth apps. Furthermore, cloud-deployed solutions assist healthcare institutes in dealing with electronic medical records, big data analytics, patient portals, and mobile applications to prevent additional costs for maintaining servers. Thus, this factor boosts market growth.

Opportunities

  • Growing Adoption of RCM in Healthcare

Healthcare facilities are using revenue cycle management software solutions due to the numerous advantages such as easy availability of trained and skilled professionals, compliance and adherence to required regulations, improved efficiency, and cost-effectiveness. The available healthcare facilities readily use RCM solutions and services because of the numerous benefits. A Med USA article published in 2020 states that around two-thirds of healthcare organizations outsource their revenue cycle management solutions and services. Thus, this factor boosts market growth.

  • Increasing Strategic Initiatives Associated With Revenue Cycle Management (RCM)

There have been growing initiatives by market players that have led to the market's growth. For instance, Revenue cycle management (RCM) vendor Waystar announced its plans to acquire Patientco in 2021 in the recent deal between an RCM vendor and a patient payment company. The RCM vendor aims for the combination to boost the patient's financial experience by providing users with consumer-friendly options for paying medical bills. Thus, this factor boosts market growth.

Restraints/Challenges

  • High Unwanted Cost Associated with Revenue Cycle Management (RCM)

Several consulting firms, even RCM ones, are not so good at charging hidden fees. There can be several hidden costs, such as fees for generating reports, printing statements, setting up services, and canceling services that restrict the users from using it. Therefore, these factors hamper the market growth.

This revenue cycle management (RCM) 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 revenue cycle management (RCM) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In 2021, Workday announced that Google LLC had subscribed to additional products to support its global workforce, which includes Workday Extend, Workday Adaptive Planning, Workday Prism Analytics, and Workday Strategic Sourcing. Google will also increase its current use of Workday RCM as part of its continuing investment in talent management strategies, adding new applications to deliver improved employee experiences and recruiting to support its global workforce.

Global Revenue Cycle Management RCM) Market Scope

The revenue cycle management (RCM) market is segmented on the basis of product type, function, deployment, component 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.

Product Type

  • Integrated RCM
  • Standalone RCM

Function

  • Claims and denial management
  • Medical coding and billing
  • Electronic health record (EHR)
  • Clinical documentation improvement (CDI)
  • Insurance
  • Others

Organization size

  • Software
  • Services

Deployment Model

  • Cloud
  • On premise
  • Web based

End user

  • Hospitals
  • General physicians
  • Others

Revenue Cycle Management (RCM) Market Regional Analysis/Insights

The revenue cycle management (RCM) market is analyzed and market size insights and trends are provided by product type, function, deployment, component and end user as referenced above.

The countries covered in the revenue cycle management (RCM) market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the revenue cycle management (RCM) market due to the wide presence of well-established hospitals and healthcare infrastructure and an increasing need to decrease healthcare costs in this region. Furthermore, favorable regulations are also creating huge growth opportunities for the market in the region.      

Asia-Pacific is expected to witness significant growth due to favorable government initiatives and support, increasing demand for care delivery quality, growing digital literacy, and higher adoption of healthcare I.T. solutions.

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 revenue cycle management (RCM) 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 revenue cycle management (RCM) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the revenue cycle management (RCM) market. The data is available for historic period 2011-2021.

Competitive Landscape and Revenue Cycle Management (RCM) Market Share Analysis

The revenue cycle management (RCM) market competitive landscape provides details by competitor. Details included are 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 revenue cycle management (RCM) market.

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

  • Oracle Corporation (U.S.)
  • SAP SE (Germany)
  • International Business Machines Corporation (U.S.)
  • NetSuite Inc. (U.S.)
  • Workday, Inc. (U.S.)
  • ADP, LLC (U.S.)
  • Cornerstone OnDemand (U.S.)
  • Benefitfocus Inc. (U.S.)
  • BambooHR (U.S)
  • PeopleFluent (U.S)
  • Zoho Corporation (India)
  • WebHR (U.S)
  • CakeHR (U.K)
  • Epicor Software Corporation (U.S)
  • Infor (U.S)
  • Kronos Incorporated (U.S)
  • The Sage Group plc. (U.S)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

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.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

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.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

The Revenue Cycle Management (RCM) Market is projected to grow at a CAGR of 14.0% during the forecast period by 2030.
The future market value of the Revenue Cycle Management (RCM) Market is expected to reach USD 133 billion by 2030.
The major players in the Revenue Cycle Management (RCM) Market are Oracle Corporation (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), NetSuite Inc. (U.S.), Workday, Inc. (U.S.), ADP, LLC (U.S.), Cornerstone OnDemand (U.S.), Benefitfocus Inc. (U.S.), etc.
The countries covered in the Revenue Cycle Management (RCM) Market are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, etc.
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials