Revenue Cycle Management Market Revenue worth $658.7 Billion By 2030

Revenue Cycle Management Industry Overview

The global revenue cycle management market size is expected to reach USD 658.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.6% from 2022 to 2030. Growing digitalization of healthcare is driving organizations to adopt healthcare IT solutions such as Revenue Cycle Management (RCM) systems. Unorganized data siloes generated from multiple healthcare functionalities and the increasing need to streamline workflows to enhance productivity and efficiency are driving the adoption of RCM systems and propelling market growth.

Revenue Cycle Management Market Segmentation

Grand View Research, Inc. has segmented the global revenue cycle management market on the basis of product, type, delivery, end-user, physician specialty, sourcing, function and region:

Based on the Product Type Insights, the market is segmented into Software and Services.

• The software segment dominated the revenue cycle management market and accounted for the largest revenue share of 66.4% in 2021.
• On the other hand, the services segment is anticipated to register the fastest growth rate over the forthcoming years owing to the growing trend of outsourcing these services to healthcare facilities.

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

• The integrated type segment dominated the market for revenue cycle management and accounted for the largest revenue share of 69.8% in 2021 owing to the growing preference for volume-based payments over value-based payments.
• Moreover, the growing need to minimize or eliminate human errors and accelerate administrative functions is anticipated to boost the growth of an integrated type of service.

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

• The web-based delivery mode segment dominated the market for revenue cycle management and accounted for the largest revenue share of 53.0% in 2021 owing to the growing implementation of web-based solutions.
• On the other hand, the cloud-deployed segment is anticipated to register the fastest growth rate over the forthcoming years owing to higher flexibility and increased cost-effectiveness to end-users.

Based on the End-Use Insights, the market is segmented into Physician Back Offices, Hospitals, Diagnostic Laboratories and Others.

• The physician back-office segment dominated the market for revenue cycle management and accounted for the largest revenue share of 38.0% in 2021.
• On the other hand, the hospital’s segment is anticipated to register the fastest growth rate over the forthcoming years owing to the rising number of protocols and guidelines introduced by regulatory bodies with respect to patient safety.

Revenue Cycle Management Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key participants in the market for revenue cycle management are devising various strategic initiatives to expand their business footprint and gain a competitive edge in the market. Key players are focusing on strategic initiatives such as mergers and acquisitions, technological collaborations, partnerships, funding and investments, and innovative product developments and launches to expand their expertise and product portfolio.

Some prominent players in the Revenue Cycle Management market include

• The SSI Group, Inc.
• AllScripts Healthcare, LLC
• Experian Health
• R1 RCM Inc
• McKesson Corporation
• athenahealth, Inc.
• Epic Systems Corporation
• NXGN Management, LLC
• CareCloud Corporation
• Quest Diagnostics, Inc.
• Cerner Corporation

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