Revenue Cycle Management Market Is Expected To Reach $ 160.3 Billion By 2027



 San Francisco, 16 Oct 2020: The Report Revenue Cycle Management Market Size, Share & Trends Analysis Report By Product (Software, Service), By Type (Integrated, Standalone), By Delivery Mode, By Region, And Segment Forecasts, 2020 - 2027

The global revenue cycle management market size is anticipated to reach USD 160.3 billion by 2027, registering a CAGR of 12.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing government reforms favoring the adoption of revenue cycle management (RCM) solutions in healthcare settings, growing inclination toward cloud-based solutions, and increasing outsourcing of RCM services are the key factors driving the global market.

Based on product type, the market is segmented into software and services. The software segment dominated the market in 2019 with a market size of around USD 39.0 billion. Increasing adoption of RCM solutions in healthcare settings for effectively managing the patient data and growing patient pool are the major factors driving the market growth. On the other hand, services is anticipated to be the fastest-growing segment over the forecast period. Growing outsourcing of revenue cycle management services owing to the shortage of resources and inexpensive labor costs are the major factors driving the growth of this segment.

Integrated RCM solutions dominated the market in 2019, with a revenue share of 69.0%. Integrated solutions offer a streamlined and coordinated format on a wide variety of financial activities via single platform. Moreover, integrated solutions are quite cost-effective as compared to standalone solutions. Unlike standalone solutions, they are composed of various modules that cost-effectively manage parallel activities taking place in a healthcare setting.

North America dominated the RCM market in 2019 with the highest revenue share. Availability of favorable reimbursements and government initiatives for the implementation of RCM systems are the major factors driving the market growth. On the other hand, Asia Pacific is anticipated to be the fastestgrowing region over the forecast period, owing to the availability of low cost labor and entry of major players in the region. 

Access Research Report of Revenue Cycle Management Market @ https://www.grandviewresearch.com/industry-analysis/revenue-cycle-management-rcm-market

Further key findings from the report suggest:

  • The market is anticipated to be expand significantly owing to increased adoption of RCM systems in healthcare settings
  • The software segment accounted for a major share in 2019 with a market size of around USD 39.0 billion due to increasing demand for HIT systems
  • Integrated RCM solutions held the largest market share of 69.0% in 2019, as they are cost-effective as compared to standalone solutions
  • North America dominated the revenue cycle management market in 2019 owing to the availability of favorable reimbursement policies, presence of well-developed healthcare infrastructure, and growing adoption of RCM solutions and their long-term benefits
  • Some of the key market participants are Allscripts Inc.; Cerner Corporation; Change Healthcare; Epic Systems Corporation; CareCloud Corporation; and McKesson Corporation.
  • These companies are focusing on strategic collaborations and introduction of new products to survive the market competition

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the global revenue cycle management market based on product, type, delivery mode, end use, and region:

Revenue Cycle Management Product Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Software
  • Services

Revenue Cycle Management Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Integrated
  • Standalone

Revenue Cycle Management Delivery Mode Outlook (Revenue, USD Million, 2016 - 2027)

  • On-premise
  • Web-based
  • Cloud based

Revenue Cycle Management End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Physician Offices
  • Hospitals
  • Diagnostic Laboratories
  • Others

Revenue Cycle Management Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Access Press Release of Revenue Cycle Management Market @ https://www.grandviewresearch.com/press-release/global-revenue-cycle-management-rcm-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

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