Revenue Cycle Management market is expected to grow from USD 69.39 billion in 2019 to USD 161.43 billion by 2026 at a CAGR of 12.82% from 2020 to 2026.
Revenue cycle management (RCM) is that the financial process, using medical billing software, that healthcare facilities use to trace patient care episodes from registration and appointment scheduling to the ultimate payment of a balance. RCM merges the business and clinical sides of healthcare by coupling administrative data, like a patient's name, insurance provider and other personal information, with the treatment a patient receives and their healthcare data.
To run a productive RCM process, it's authoritative to rent an experienced billing service. When a patient schedules a meeting, the physician's office or the hospital staff typically check the patient's reported coverage before the visit. The major factors driving the development of the global market contain the reducing reimbursements in the healthcare industry, regulatory mandates for the adoption of EHR/EMR, government initiatives to boost the adoption of RCM solutions, loss of revenue due to billing errors, and process improvements in healthcare organizations.
The global Revenue Cycle Management market is segregated on the basis of Function as Claims & Denial Management, Medical Coding & Billing, Patient Insurance Eligibility Verification, Payment Remittance, Electronic Health Record (Ehr), Clinical Documentation Improvement (Cdi), and Other Functions. Based on Product the global Revenue Cycle Management market is segmented in Integrated Solutions and Standalone Solutions.
Based on Offering, the global Revenue Cycle Management market is segmented in Software and Services. The report also bifurcates the global Revenue Cycle Management market based on Deployment in Web-Based, On-Premise, and Cloud-Based. The report also bifurcates the global Revenue Cycle Management the global End User market is segmented in Physicians, Hospitals, Laboratories, and Other End Users.
The global Revenue Cycle Management market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Revenue Cycle Management market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
Cerner, Mckesson, Quest Diagnostics, Allscripts Healthcare Solutions, Athenahealth, Ge Healthcare, Eclinicalworks, Conifer Health Solutions, Epic Systems, Gebbs Healthcare Solutions, and others are among the major players in the global Revenue Cycle Management market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Revenue Cycle Management market has been segmented as below:
Revenue Cycle Management Market, By Function
Revenue Cycle Management Market, By Product
Revenue Cycle Management Market, By Offering
Revenue Cycle Management Market, By Deployment
Revenue Cycle Management Market, By End User
Revenue Cycle Management Market, By Region
Revenue Cycle Management Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Revenue Cycle Management market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Revenue Cycle Management market share. Major industry players with significant revenue share include Cerner, Mckesson, Quest Diagnostics, Allscripts Healthcare Solutions, Athenahealth, Ge Healthcare, Eclinicalworks, Conifer Health Solutions, Epic Systems, Gebbs Healthcare Solutions, and others.
Why to Buy this Report:
Target Audience:
The report targeted towards the existing players in the industry is as follows:
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Report Content
1.1 Key Insights
1.2 Report Overview
1.3 Markets Covered
1.4 Stakeholders
2.1 Research Scope
2.2 Market Research Process
2.3 Research Data Analysis
2.4.1 Secondary Research
2.4.2 Primary Research
2.4.3 Models for Estimation
2.5 Market Size Estimation
2.5.1 Bottom-Up Approach - Segmental Market Analysis
2.5.2 Top-Down Approach - Parent Market Analysis
4.1 Introduction
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.2 Porter's Five Force Analysis
5.1 Introduction
5.2 Claims & Denial Management
5.2.1 Market Overview
5.2.2 Market Size and Forecast
5.3 Medical Coding & Billing
5.3.1 Market Overview
5.3.2 Market Size and Forecast
5.4 Patient Insurance Eligibility Verification
5.4.1 Market Overview
5.4.2 Market Size and Forecast
5.5 Payment Remittance
5.5.1 Market Overview
5.5.2 Market Size and Forecast
5.6 Electronic Health Record (Ehr)
5.6.1 Market Overview
5.6.2 Market Size and Forecast
5.7 Clinical Documentation Improvement (Cdi)
5.7.1 Market Overview
5.7.2 Market Size and Forecast
5.8 Other Functions
5.8.1 Market Overview
5.8.2 Market Size and Forecast
6.1 Introduction
6.2 Integrated Solutions
6.2.1 Market Overview
6.2.2 Market Size and Forecast
6.3 Standalone Solutions
6.3.1 Market Overview
6.3.2 Market Size and Forecast
7.1 Introduction
7.2 Software
7.2.1 Market Overview
7.2.2 Market Size and Forecast
7.3 Services
7.3.1 Market Overview
7.3.2 Market Size and Forecast
8.1 Introduction
8.2 Web-Based
8.2.1 Market Overview
8.2.2 Market Size and Forecast
8.3 On-Premise
8.3.1 Market Overview
8.3.2 Market Size and Forecast
8.4 Cloud-Based
8.4.1 Market Overview
8.4.2 Market Size and Forecast
9.1 Introduction
9.2 Physicians
9.2.1 Market Overview
9.2.2 Market Size and Forecast
9.3 Hospitals
9.3.1 Market Overview
9.3.2 Market Size and Forecast
9.4 Laboratories
9.4.1 Market Overview
9.4.2 Market Size and Forecast
9.5 Other End Users
9.5.1 Market Overview
9.5.2 Market Size and Forecast
10.1 Introduction
10.2 Europe
10.2.1 Europe Revenue Cycle Management, By Function
10.2.2 Europe Revenue Cycle Management, By Product
10.2.3 Europe Revenue Cycle Management, By Offering
10.2.4 Europe Revenue Cycle Management, By Deployment
10.2.5 Europe Revenue Cycle Management, By End User
10.3 North America
10.3.1 North America Revenue Cycle Management, By Function
10.3.2 North America Revenue Cycle Management, By Product
10.3.3 North America Revenue Cycle Management, By Offering
10.3.4 North America Revenue Cycle Management, By Deployment
10.3.5 North America Revenue Cycle Management, By End User
10.4 Asia Pacific
10.4.1 Asia Pacific Revenue Cycle Management, By Function
10.4.2 Asia Pacific Revenue Cycle Management, By Product
10.4.3 Asia Pacific Revenue Cycle Management, By Offering
10.4.4 Asia Pacific Revenue Cycle Management, By Deployment
10.4.5 Asia Pacific Revenue Cycle Management, By End User
10.5 Rest of The World
10.5.1 Rest of The World Revenue Cycle Management, By Function
10.5.2 Rest of The World Revenue Cycle Management, By Product
10.5.3 Rest of The World Revenue Cycle Management, By Offering
10.5.4 Rest of The World Revenue Cycle Management, By Deployment
10.5.5 Rest of The World Revenue Cycle Management, By End User
11.1 Key Insights
11.2 Company Market Share Analysis
11.3 Strategic Outlook
11.3.1 Mergers & Acquisitions
11.3.2 New Product Development
11.3.3 Portfolio/Production Capacity Expansions
11.3.4 Joint Ventures, Collaborations, Partnerships & Agreements
11.3.5 Others
(Overview, Key Financials, Recent Developments, Product and Service Offering)
The global Revenue Cycle Management market has been segmented as below:
Revenue Cycle Management Market, By Function
Revenue Cycle Management Market, By Product
Revenue Cycle Management Market, By Offering
Revenue Cycle Management Market, By Deployment
Revenue Cycle Management Market, By End User
Revenue Cycle Management Market, By Region
Revenue Cycle Management Market, By Company