U.S. Revenue Cycle Management Market Application Outlook, Impact of COVID-19 and Share Insights

San Francisco, Calif., USA, June 22, 2022 — /EPR Network/ —

U.S. Revenue Cycle Management Market Industry Overview

The U.S. revenue cycle management market size is expected to reach USD 308.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.3% from 2022 to 2030. Growing data siloes emerging from multiple healthcare functionalities and departments are driving the need to consolidate and streamline unorganized workflows to boost efficiency and productivity in healthcare organizations. Furthermore, the growing trend of digital health and widespread adoption of healthcare IT solutions are anticipated to accelerate market growth. The market growth in the U.S. can also be attributed to the increasing healthcare IT spending and the growing trend of outsourcing RCM systems and services.

Moreover, the RCM market is undergoing regular advancements with value-added features such as data analytics and integration of artificial intelligence and machine learning algorithms in the existing product offerings.

U.S. Revenue Cycle Management Market Segmentation

Grand View Research, Inc. has segmented the U.S. revenue cycle management market on the basis of end user, product type, component, delivery mode, physician specialty, sourcing, and function:

Based on the End-user Insights, the market is segmented into Hospitals and Physician & Clinical Services.

• The hospitals segment dominated the market in 2021 and accounted for a revenue share of over 55.0%.
• The physician and clinical services segment is anticipated to register the fastest growth rate over the forecast period owing to the growing number of physicians in the U.S. In physician offices and clinical services, revenue cycle management systems are used by nursing staff, office managers, and consultants to ensure the smooth functioning of the healthcare facility.

Based on the Product Type Insights, the market is segmented into Integrated System and Standalone System.

• The integrated solutions segment is anticipated to register the fastest growth rate over the forthcoming years.
• The integrated system segment dominated the market in 2021 and accounted for a revenue share of over 70.0% owing to the constant technological advancements and widespread adoption of integrated RCM solutions by healthcare organizations.

Based on the Component Insights, the market is segmented into Software Solution and Services.

• The services segment dominated the market in 2021 and accounted for a revenue share of over 65.0%.
• The software segment is expected to grow steadily owing to the growing demand for digitalization and streamlining of operational workflows to improve patient care.

Based on the Delivery Mode Insights, the market is segmented into On-premise, Web-based and Cloud-based.

• Web-based delivery mode dominated the market in 2021 and accounted for a revenue share of over 55.0%.
• The cloud-based segment is anticipated to register the fastest growth rate over the forthcoming years.

Based on the Physician Specialty Insights, the market is segmented into Oncology, Cardiology, Anesthesia, Radiology, Pathology, Pain Management, Emergency Service and Others.

• The others segment dominated the U.S. market in 2021 and accounted for a revenue share of over 70.0% owing to the growing insurance coverage policies for various applications, which directly impact the demand for revenue cycle management solutions in different healthcare specialties.
• The cardiology segment is anticipated to register the fastest growth rate over the forthcoming years.

Based on the Sourcing Insights, the market is segmented into In-house, External RCM Apps/ Software and Outsourced RCM Services.

• The in-house segment dominated the U.S. market in 2021 and accounted for a revenue share of over 70.0% owing to the multiple benefits associated with in-house sourcing such as maintaining complete control of entire coding operations, patient information confidentiality, and accessibility of in-house medical billers.
• The outsourced RCM services segment is anticipated to register the fastest growth rate over the forecast period.

Based on the Function Insights, the market is segmented into Product Development, Member Engagement, Network Management, Care Management, Claim Management and Risk and Compliances.

• The claims management segment dominated the U.S. market in 2021 and accounted for a revenue share of over 50.0% owing to the rapidly growing patient pool, increasing geriatric population, and the emergence of favorable government initiatives pertaining to medical insurance coverages.
• The care management segment is anticipated to register the fastest growth rate over the forecast period owing to the increasing demand for virtual health applications to handle healthcare emergencies.

Key Companies Profile & Market Share Insights

The key players in the U.S. market are focusing on devising numerous business strategies such as innovative product development, geographic expansions, technological collaboration, partnerships, and mergers & acquisitions.

Some prominent players in the U.S. Revenue Cycle Management Market include

• The SSI Group, Inc.
• AllScripts Healthcare, LLC
• eClinicalWorks
• McKesson Corporation
• athenahealth, Inc.
• Epic Systems Corporation
• NXGN Management, LLC
• Oncospark, Inc.

Order a free sample PDF of the U.S. Revenue Cycle Management Market Intelligence Study, published by Grand View Research.

Browse More: https://www.grandviewresearch.com/research-insights/metaverse-market-snapshot