Revenue Cycle Management Market – Top Companies, Trends, Revenue Growth, Market Dynamics And Future Scope Till 2027

CITY – Northbrook, Country – USA, 2020-Feb-24 — /EPR Network/ 

The global Revenue Cycle Management Market size is expected to reach USD 160.08 billion by 2027 from USD 66.81 billion in 2019, at a CAGR of 12.1%. Decreasing reimbursements in the healthcare industry, regulatory mandates for the adoption of EHR/EMR, government initiatives to boost the adoption of RCM solutions are the major factors driving the growth of the revenue cycle management market.

Browse 136 market data Tables and 31 Figures spread through 168 Pages and in-depth TOC on “Revenue Cycle Management Market – Global Forecast to 2027”

By product, the global revenue cycle management market is categorized into integrated solutions and standalone solutions. In 2017, the integrated solutions segment is expected to register the highest CAGR during the forecast period. Growth in this segment can largely be attributed to a rising adoption of value-based payment systems and the growing demand for cost-saving data management solutions.

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On the basis of deployment, the market is segmented into three categories—web-based, on-premise, and cloud-based solutions. The cloud-based segment is expected to be the fastest-growing segment during the forecast period. The growth of this segment can be attributed to the growing need for accessing patient records from disparate information systems in real time and from remote locations.

On the basis of function, the market is broadly segmented into claim and denial management, medical billing and coding, patient insurance eligibility check, payment remittance, electronic health record (EHR), clinical documentation improvement (CDI), and others. The claim and denial management segment is expected to be the fastest-growing segment during the forecast period. The growing demand for claims and denial management due to the dynamic reimbursement structure and the increasing instances of claim denials are the major factors driving the growth of this segment.

On the basis of end user, the market is broadly segmented into physicians, hospitals, laboratories, and other end users. The physicians segment is expected to account for the largest share of the global revenue cycle management market in 2017 and is projected to register the highest growth rate during the forecast period. The growing adoption of integrated practice management systems among physicians and the mandatory implementation of advanced RCM solutions are the key factors driving the growth of this segment.

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The revenue cycle management market with emerging growth in the Asia region is expected to lead to the increase in demand for RCM solutions among healthcare providers. Fast growth of the healthcare industry in the Asia region is further supporting this demand. Owing to such factors, a revenue cycle management provider can leverage huge growth opportunities catering to growing demand for revenue cycle management solutions.

The key players in the global revenue cycle management market are McKesson (US), Cerner (US), Quest Diagnostics (US), Allscripts Health Solutions (US), and athenahealth (US).

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