The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s revenue cycle management (RCM) market report forecasts the revenue cycle management (RCM) market size to grow to $193.64 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.

Learn More On The Revenue Cycle Management (RCM) Market Report 2023 – https://www.thebusinessresearchcompany.com/report/revenue-cycle-management-rcm-global-market-report

Revenue Cycle Management (RCM) Market Size Forecast
The global revenue cycle management (RCM) market is expected to grow from $102.95 billion in 2022 to $117.15 billion in 2023 at a compound annual growth rate (CAGR) of 13.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The revenue cycle management (RCM) market size is expected to grow to $193.64 billion in 2027 at a CAGR of 13.4%.

North America held the largest revenue cycle management (RCM) market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Revenue Cycle Management (RCM) Market Driver ­– Increase In Healthcare Expenditures
For instance, according to the U.S. Centres for Medicare & Medicaid Services, a US-based federal agency, in 2020, U.S. health spending climbed by 9.7% to $4.1 trillion, or $12,530 per person. Compared to 2019, this growth rate is significantly larger by 4.3%. Therefore, the increasing healthcare expenditure is driving the growth of the revenue cycle management market.

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Key Revenue Cycle Management (RCM) Market Trend – Technological Advancement
Major companies operating in the revenue cycle management market are focused on developing new technological solutions to strengthen their position. For instance, in June 2022, Olive, a US-based healthcare automation company launched its Autonomous Revenue Cycle (ARC) management suite of solutions that allows healthcare organizations to handle time-consuming administrative tasks using artificial intelligence in the revenue cycle and get paid quicker while reducing the uncompensated care risk. It integrates practice management systems and existing electronic health records.

Revenue Cycle Management (RCM) Market Segment
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

Revenue Cycle Management (RCM) Market Major Players and Strategies
Major players in the revenue cycle management (RCM) market are The SSI Group LLC, Allscripts Healthcare Solutions Inc., Experian Health, R1 RCM Inc., McKesson Corporation, Athenahealth Inc., Epic Systems Corporation, Quest Diagnostics Inc., Cerner Corporation, Constellation Software, GE Healthcare, eClinicalWorks, NXGN Management LLC, CareCloud Corporation, AdvantEdge Healthcare Solutions, Huron Consulting Group, Optum Inc., 3M, Cognizant, GeBBS Healthcare Solutions, Infosys Limited, Oracle Corporation, Accenture plc, and Conifer Health Solutions LLC.

In August 2020, R1 RCM Inc., a US-based company operating in revenue cycle management, acquired Cerner’s revenue cycle business for an amount of $30 million. With this acquisition, R1 and RevWorks are expected to provide enhanced revenue cycle capabilities and expertise to the clients and new prospects, helping drive sustainable financial improvements for providers while improving their patients’ overall experience. Cerner is a US-based company operating in revenue cycle management.

The Revenue Cycle Management (RCM) Global Market Report 2023 covers regional data on revenue cycle management (RCM) market size, revenue cycle management (RCM) market trends and drivers, opportunities, strategies, and revenue cycle management (RCM) market competitor analysis. The countries covered in the revenue cycle management (RCM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Revenue cycle management refers to the services used by healthcare providers to be financially viable and to continue providing their patients high-quality treatment through the process of locating, obtaining, and managing the practice’s revenue from payers based on the services rendered. This helps providers prevent delayed or lost money. These are useful in tracking patient care episodes from registration to the final payment of a balance.

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