Revenue Cycle Management Market by Type (Standalone and Integrated), Component (Software and Services), Deployment (On-premise and Cloud) and Region (APAC, North America, Europe, MEA and South America) – Global Forecast 2022-2029

Published on: Apr 2022
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Market Size	CAGR	Dominating Region
USD 91.57 billion	10.6%	Middle East & Africa

by Type	by Component	by Deployment
Standalone Integrated	Services Software	On Premise Cloud

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Revenue Cycle Management Market Overview

The global revenue cycle management market size is expected to grow from USD 36.98 billion in 2020 to USD 91.57 billion by 2029, at a CAGR of 10.6% during the forecast period.

The adoption of Revenue Cycle Management (RCM) solutions has surged in the aftermath of the pandemic, aiming to alleviate strain on healthcare resources. These newly developed RCM solutions are geared towards streamlining workflows, enhancing data accuracy, ensuring compliance, and fostering a superior experience for both healthcare providers and patients. Additionally, they provide real-time insights, facilitate seamless data exchange, promote interoperability, and mitigate costs associated with managing disparate systems. Consequently, the proliferation of highly efficient RCM solutions has catalyzed market expansion. Moreover, advancements in data integration standards such as HL7 have further bolstered growth in the RCM market.

In recent years, the healthcare sector has witnessed a remarkable surge in electronic data generation, driven by escalating patient volumes and the digitization of administrative, clinical, and financial records, resulting in the accumulation of terabytes and petabytes of data. This underscores the imperative need for robust revenue cycle management solutions. Industry experts advocate leveraging technologies like natural language processing (NLP) and optical character recognition (OCR) to convert unstructured data from sources such as medical records, scanned documents, and audio recordings into structured, normalized formats. The multifaceted nature of healthcare data and the increased utilization of Health Information Technology (HCIT) tools further contribute to this paradigm shift.

Revenue Cycle Management Market | Exactitude Consultancy

As the intricacies of medical service reimbursement continue to escalate, the importance of deploying efficient RCM solutions becomes paramount. The burgeoning demand for workflow optimization within healthcare entities, alongside the advent of integrated management software systems, is poised to propel market expansion. Moreover, supportive regulatory reforms from governmental bodies and federal agencies serve as catalysts for growth. The market landscape is characterized by ongoing technological innovations, driving constant evolution within the industry.

Revenue Cycle Management Market Segment Analysis

By type, the global revenue cycle management market is segmented into standalone and integrated. The integrated RCM segment dominated revenue cycle management market share during the forecast period. This is due to improved healthcare infrastructure, increased healthcare-related expenditures to cater to untapped markets in developing countries, challenges encountered during accounts receivable (AR) management and claims processing, and a rise in the need to reduce cycle time.

On the basis of component, the revenue cycle management market is categorized into Software and Services. The services segment dominates the growth in the revenue cycle management market. This is due to improvement in healthcare infrastructure and healthcare expenditures to cater to the unmet medical needs in developing regions, which boosts the demand for RCM services. Revenue cycle management (RCM) software unites the business and clinical sides of a health care practice through the automation of administrative tasks, the extraction of data from EHRs and other hospital information management solutions, and the organization of existing RCM processes.

On-premise and cloud is the bifurcation of global revenue cycle management market by deployment. The on premise segment is expected to dominate the market. The growing demand for mobile support systems for better customer (patient) engagement platforms is responsible for this segment’s large share. By using machine learning algorithms and predictive analytics to reduce drug discovery times, provide virtual assistance to patients, and reduce the time it takes to diagnose ailments by processing medical images, the combination of data and artificial intelligence (AI) has the potential to improve outcomes and reduce costs. These come under the cloud segment. The use of artificial intelligence (AI) in healthcare is increasing due to its ability to optimize clinical and non-clinical processes, thereby solving a variety of problems for patients, providers, and the healthcare industry as a whole.

Revenue Cycle Management Market Players

The key market players of revenue cycle management market include R1 RCM (US), Cerner Corporation (US), Optum (US). Other prominent players in the market include McKesson Corporation (US), Change Healthcare (US), 3M (US), Experian plc (Ireland), Conifer Health Solutions (US), Allscripts Healthcare Solutions (US), GE Healthcare (US), Cognizant (US), Athenahealth (US), SSI Group LLC (US), AdvantEdge Healthcare (US), and Huron Consulting Group (US).

New strategies such as product launches, enhancements, partnerships, collaborations, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the market.

Who Should Buy? Or Key Stakeholders

Hospitals
Physicians
Diagnostic & Ambulatory Care Centers
Medical Laboratories

The global revenue cycle management market is expected to grow at a CAGR of 10.6% during the forecast period.
Based on type, the integrated RCM segment dominated revenue cycle management market share during the forecast period.
Based on components, the services segment dominates the growth in the revenue cycle management market.
Based on deployment, the on premise segment is expected to dominate the market.
Based on regional market share the market for Middle east and Africa is expected to dominate during the forecast period.
The major trend in the Revenue Cycle Management Market is the increasing adoption of artificial intelligence and automation to streamline billing processes and improve revenue optimization.

Revenue Cycle Management Market Regional Analysis

Geographically, the revenue cycle management market is segmented into North America, South America, Europe, Asia Pacific and Middle East & Africa (MEA). Middle East & Africa is the fastest-growing market for revenue cycle management market during the forecast period. The rapid growth in this regional market can be attributed to government initiatives to promote digitalization, rising medical tourism, increased awareness, and increased demand for quality healthcare.

Asia Pacific: includes China, Japan, South Korea, India, Australia, and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, and Rest of Europe
North America: includes the US, Canada, Mexico
South America: Brazil and Rest of South America
Middle East & Africa: includes Saudi Arabia, South Africa, and Rest of MEA

Key Market Segments: Global Revenue Cycle Management Market

Revenue Cycle Management Market by Type, 2020-2029 (In USD Million)

Standalone
Integrated

Revenue Cycle Management Market by Component, 2020-2029 (In USD Million)

Services
Software

Revenue Cycle Management Market by Deployment, 2020-2029 (In USD Million)

On Premise
Cloud

Revenue Cycle Management Market by Region, 2020-2029 (In USD Million)

Asia Pacific
Europe
North America
South America
Middle East And Africa

Important countries in all regions are covered.

Key Question Answered

What is the current scenario of the global revenue cycle management market?
What are the emerging technologies for the development of revenue cycle management market?
What are the historical size and the present size of the market segments and their future potential?
What are the major catalysts for the market and their impact during the short, medium, and long terms?
What are the evolving opportunities for the players in the market?
Which are the key regions from the investment perspective?
What are the key strategies being adopted by the major players to up their market shares?

Introduction
1. Market Definition
2. Market Segmentation
3. Research Timelines
4. Assumptions and Limitations
Research Methodology
1. Data Mining
  1. Secondary Research
  2. Primary Research
  3. Subject-Matter Experts’ Advice
2. Quality Checks
  1. Final Review
3. Data Triangulation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Research Flow
4. Data Sources
Executive Summary
Market Overview
1. Global Revenue Cycle Management Market Outlook
  1. Market Drivers
  2. Market Restraints
  3. Market Opportunities
2. Impact Of Covid-19 On Revenue Cycle Management Market
3. Porter’s Five Forces Model
  1. Threat From New Entrants
  2. Threat From Substitutes
  3. Bargaining Power Of Suppliers
  4. Bargaining Power Of Customers
  5. Degree Of Competition
4. Industry Value Chain Analysis
Global Revenue Cycle Management Market By Type
1. Standalone
2. Integrated
Global Revenue Cycle Management Market By Component
1. Services
2. Software
Global Revenue Cycle Management Market By Deployment
1. On Premise
2. Cloud
Global Revenue Cycle Management Market By Region
1. North America
  1. Us
  2. Canada
  3. Mexico
2. South America
  1. Brazil
  2. Rest Of South America
3. Europe
  1. Germany
  2. UK
  3. France
  4. Italy
  5. Spain
  6. Rest Of Europe
4. Asia Pacific
  1. India
  2. China
  3. Japan
  4. South Korea
  5. Australia
  6. Rest Of Asia Pacific
5. Middle East And Africa
  1. Saudi Arabia
  2. South Africa
  3. Rest Of Middle East And Africa
Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)
1. Cerner Corporation
2. eClinicalWorks
3. Epic Systems Corporation
4. GeBBSHealthcare Solutions
5. GE Healthcare
6. Experian PLC
7. Mckesson Corporation
8. Quest Diagnostics Incorporated
9. Athenahealth, Inc.
10. Allscripts Healthcare Solutions, Inc.

*The Company List Is Indicative

LIST OF TABLES

TABLE 1 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 2 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 3 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 4 US REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 5 US REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 6 US REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 7 CANADA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 8 CANADA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 9 CANADA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 10 MEXICO REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 11 MEXICO REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 12 MEXICO REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 13 BRAZIL REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 14 BRAZIL REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 15 BRAZIL REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 16 ARGENTINA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 17 ARGENTINA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 18 ARGENTINA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 19 COLOMBIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 20 COLOMBIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 21 COLOMBIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 22 REST OF SOUTH AMERICA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 23 REST OF SOUTH AMERICA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 24 REST OF SOUTH AMERICA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 25 INDIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 26 INDIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 27 INDIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 28 CHINA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 29 CHINA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 30 CHINA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 31 JAPAN REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 32 JAPAN REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 33 JAPAN REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 34 SOUTH KOREA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 35 SOUTH KOREA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 36 SOUTH KOREA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 37 AUSTRALIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 38 AUSTRALIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 39 AUSTRALIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 40 SOUTH-EAST ASIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 41 SOUTH-EAST ASIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 42 SOUTH-EAST ASIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 43 REST OF ASIA PACIFIC REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 44 REST OF ASIA PACIFIC REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 45 REST OF ASIA PACIFIC REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 46 GERMANY REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 47 GERMANY REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 48 GERMANY REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 49 UK REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 50 UK REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 51 UK REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 52 FRANCE REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 53 FRANCE REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 54 FRANCE REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 55 ITALY REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 56 ITALY REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 57 ITALY REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 58 SPAIN REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 59 SPAIN REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 60 SPAIN REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 61 RUSSIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 62 RUSSIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 63 RUSSIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 64 REST OF EUROPE REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 65 REST OF EUROPE REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 66 REST OF EUROPE REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 67 UAE REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 68 UAE REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 69 UAE REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 70 SAUDI ARABIA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 71 SAUDI ARABIA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 72 SAUDI ARABIA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 73 SOUTH AFRICA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 74 SOUTH AFRICA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 75 SOUTH AFRICA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

TABLE 76 REST OF MIDDLE EAST AND AFRICA REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT (USD MILLIONS) 2020-2029

TABLE 77 REST OF MIDDLE EAST AND AFRICA REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT (USD MILLIONS) 2020-2029

TABLE 78 REST OF MIDDLE EAST AND AFRICA REVENUE CYCLE MANAGEMENT MARKET BY TYPE (USD MILLIONS) 2020-2029

LIST OF FIGURES

FIGURE 1 MARKET DYNAMICS

FIGURE 2 MARKET SEGMENTATION

FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4 DATA TRIANGULATION

FIGURE 5 BOTTOM-UP APPROACH

FIGURE 6 TOP-DOWN APPROACH

FIGURE 7 RESEARCH FLOW

FIGURE 8 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY TYPE, USD MILLION, 2020-2029

FIGURE 9 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY COMPONENT, USD MILLION, 2020-2029

FIGURE 10 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT, USD MILLION, 2020-2029

FIGURE 11 GLOBAL REVENUE CYCLE MANAGEMENT MARKET BY REGION, USD MILLION, 2020-2029

FIGURE 12 PORTER’S FIVE FORCES MODEL

FIGURE 13 MARKET SHARE ANALYSIS

FIGURE 14 CERNER CORPORATION: COMPANY SNAPSHOT

FIGURE 15 ECLINICALWORKS: COMPANY SNAPSHOT

FIGURE 16 EPIC SYSTEMS CORPORATION: COMPANY SNAPSHOT

FIGURE 17 GEBBSHEALTHCARE SOLUTIONS: COMPANY SNAPSHOT

FIGURE 18 GE HEALTHCARE: COMPANY SNAPSHOT

FIGURE 19 EXPERIAN PLC: COMPANY SNAPSHOT

FIGURE 20 MCKESSON CORPORATION: COMPANY SNAPSHOT

FIGURE 21 QUEST DIAGNOSTICS INCORPORATED: COMPANY SNAPSHOT

FIGURE 22 ATHENAHEALTH, INC.: COMPANY SNAPSHOT

FIGURE 23 ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.: COMPANY SNAPSHOT

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