The revenue cycle management (rcm) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Revenue Cycle Management (RCM) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The revenue cycle management (rcm) market size has grown rapidly in recent years. It will grow from $119.88 billion in 2023 to $136.76 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to implementation of electronic health records (ehrs), healthcare reforms and regulations, rising healthcare costs, focus on improving billing and collections, growth in healthcare facilities..
The revenue cycle management (rcm) market size is expected to see rapid growth in the next few years. It will grow to $235.76 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to transition to value-based care models, integration of ai and machine learning in rcm, telehealth and remote patient interactions, patient-centric financial experiences, consolidation of rcm services, addressing billing and coding complexities, enhanced data analytics for revenue optimization.. Major trends in the forecast period include predictive analytics for revenue forecasting, blockchain for secure and transparent billing, rcm as a service (rcmaas) models, patient engagement platforms in rcm, price transparency and cost estimation tools, data interoperability across healthcare systems..
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Scope Of Revenue Cycle Management (RCM) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Revenue Cycle Management (RCM) Market Overview
Market Drivers –
The increase in healthcare expenditures is expected to propel the growth of the revenue cycle management market going forward. Health expenditure will include all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid that have been designated for health. Healthcare facilities are adopting advanced solutions such as revenue cycle management for managing the administrative and clinical functions due to the rise in healthcare expenditure. These solutions are associated with claims processing, payment, and revenue generation. For instance, in March 2022, according to the 2021–2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based Department of Health and Human Services department, the annual increase in national health spending was predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Additionally, throughout the period 2021–2030, Medicare expenditures are expected to expand at a 7.2% annual rate, while Medicaid spending is expected to grow at a 5.6% annual rate. Therefore, the increasing healthcare expenditure is driving the growth of the revenue cycle management market.
The revenue cycle management (rcm) market covered in this report is segmented –
1) By Product: Integrated, Standalone
2) By Component: Software, Services
3) By Function: Claims And Denial Management, Medical Coding and Billing, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Insurance, Other Functions
4) By Deployment: Web-Based, Cloud-Based, On-Premises
5) By End User: Hospitals, General Physicians, Labs, Other End Users
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Regional Insights –
North America was the largest region in the revenue cycle management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the revenue cycle management (rcm) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the revenue cycle management (rcm) market include The SSI Group LLC, Allscripts Healthcare Solutions Inc., Experian Health Inc., R1 RCM Inc., McKesson Corporation, Athenahealth Inc., Epic Systems Corporation, Quest Diagnostics Inc., Cerner Corporation, Constellation Software Inc., GE Healthcare Technologies Inc., eClinicalWorks India Private Limited, NXGN Management LLC, CareCloud Corporation, AdvantEdge Healthcare Solutions, Huron Consulting Group, Optum Inc., 3M Company, Cognizant Technology Solutions Corp., GeBBS Healthcare Solutions, Infosys Limited, Oracle Corporation, Accenture plc, Conifer Health Solutions LLC, Access Healthcare Services Pvt. Ltd., CareStack, Distributed Control System, Dental Revenue Cycle Management, Dental Revenue Group Inc., Dental Robot, eAssist Dental Solutions, Med Healthcare Revenue Cycle Management, Medusind Solutions, Convergent Technologies Inc., Drchrono Inc.
Table of Contents
1. Executive Summary
2. Revenue Cycle Management (RCM) Market Report Structure
3. Revenue Cycle Management (RCM) Market Trends And Strategies
4. Revenue Cycle Management (RCM) Market – Macro Economic Scenario
5. Revenue Cycle Management (RCM) Market Size And Growth
…..
27. Revenue Cycle Management (RCM) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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