Market Overview:
The global revenue cycle management solutions market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for integrated and standalone solutions, rising adoption of RCM by hospitals and laboratories, and growing need for automation in revenue cycle management. The global revenue cycle management solutions market is segmented on the basis of type into integrated solutions and standalone solutions. The integrated solutions segment is expected to dominate the market during the forecast period owing to its ability to manage all aspects of revenue cycle management in a single platform. On the basis of application, the market is segmented into physicians, hospitals, laboratories, and others.
Product Definition:
Revenue cycle management solutions are software programs that help healthcare organizations manage their billing and revenue processes. These solutions can automate tasks such as insurance verification, claims submission, and payment processing, which can help organizations improve efficiency and reduce costs. Revenue cycle management solutions are important for healthcare organizations because they can help improve cash flow and optimize reimbursement rates.
Integrated Solutions:
Integrated solutions are those services and software that help the healthcare providers to manage patient data, medical procedures, insurance claims and billing process all in one place. It helps them to improve their efficiency by streamlining their workflows. The major factor driving the growth of integrated solutions is its ability to provide a single point of contact for all business operations which includes claim management, payment processing & customer service along with clinical content such as images & documents among others.
Standalone Solutions:
Standalone solutions are software or a collection of software and services that provide functionality for managing the organization's processes, such as accounts receivable management, payroll management, revenue cycle management (RCM), and others. Standalone solutions can be used in any industry vertical with an established business process. The key benefit of using standalone solutions is that it allows companies to choose a solution based on its capability to meet their specific needs without having to purchase additional modules.
Application Insights:
The others application segment accounted for the largest revenue share in 2017 and is anticipated to witness significant growth over the forecast period. The other applications include pharmaceutical companies, medical device manufacturers, government agencies and private health facilities. In recent years, there has been a rise in demand for revenue cycle management solutions from these sectors as they face increasing regulatory requirements and pressure on costs.
Revenue Cycle Management (RCM) software helps reduce cost of care while improving patient safety by enabling efficient data flow between different departments within an organization such as finance & accounting, clinical information systems and supply chain management. It also helps improve communication between providers to avoid duplication of efforts during billing or payment processing while reducing overall administrative burden on organizations involved in healthcare delivery or payment processing activities related to claims settlement. These benefits are expected to drive its adoption across various application areas over the coming years which will have a positive impact on industry growth over the forecast period.
Regional Analysis:
North America is expected to dominate the global revenue cycle management solutions market over the forecast period. This can be attributed to increasing healthcare spending, rising adoption of EHR systems, and favorable reimbursement scenario in this region. Moreover, growing number of CRM initiatives by hospitals and other healthcare organizations are contributing towards regional growth. For instance, in May 2017, Express Care Clinic launched a new patient portal for physicians that enables them to view patients’ medical history instantly and thus streamlines the entire workflow from admission till discharge. The portal is integrated with all insurance payers including Medicaid/ Medicare (US), Tricare (US), Blue Cross Blue Shield (U.S.), Cigna/Aetna (U.S.), UnitedHealthcare(UH) PPO Network(UHPN), Medi-Cal(CA), Univertsity Health Plan of California HMO network & Outpatient Centers Inc.(EHPPO).
Growth Factors:
- Increasing demand for efficient and effective revenue cycle management solutions to manage the complexities of healthcare industry.
- Rising need to curtail the increasing costs of healthcare and improve operational efficiency through better revenue cycle management solutions.
- Proliferation of big data and analytics in the healthcare industry, which is aiding in better decision-making for improving revenue cycle performance.
- The growing trend of value-based care reimbursement models that are putting more emphasis on improved patient outcomes, which is driving the need for better revenue cycle management solutions across all segments of the healthcare industry.
Scope Of The Report
Report Attributes
Report Details
Report Title
Revenue Cycle Management Solutions Market Research Report
By Type
Integrated Solutions, Standalone Solutions
By Application
Physicians, Hospitals, Laboratories, Others
By Companies
Cerner, Mckesson, Quest Diagnostics, Allscripts Healthcare Solutions, Athenahealth, GE Healthcare, Eclinicalworks, Conifer Health Solutions, EPIC Systems, Gebbs Healthcare Solutions, Experian, R1 RCM, Constellation Software, The SSI Group, Nthrive
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Revenue Cycle Management Solutions Market Report Segments:
The global Revenue Cycle Management Solutions market is segmented on the basis of:
Types
Integrated Solutions, Standalone Solutions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Physicians, Hospitals, Laboratories, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cerner
- Mckesson
- Quest Diagnostics
- Allscripts Healthcare Solutions
- Athenahealth
- GE Healthcare
- Eclinicalworks
- Conifer Health Solutions
- EPIC Systems
- Gebbs Healthcare Solutions
- Experian
- R1 RCM
- Constellation Software
- The SSI Group
- Nthrive
Highlights of The Revenue Cycle Management Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Integrated Solutions
- Standalone Solutions
- By Application:
- Physicians
- Hospitals
- Laboratories
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Revenue Cycle Management Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Revenue cycle management solutions are a set of processes and systems that help organizations manage their revenue through the entire lifecycle of a sale. This includes activities such as planning, forecasting, billing, collection, and reporting. Revenue cycle management solutions can help to improve customer satisfaction by ensuring accurate payments and reducing the amount of time it takes to collect money from customers.
Some of the major companies in the revenue cycle management solutions market are Cerner, Mckesson, Quest Diagnostics, Allscripts Healthcare Solutions, Athenahealth, GE Healthcare, Eclinicalworks, Conifer Health Solutions, EPIC Systems, Gebbs Healthcare Solutions, Experian, R1 RCM, Constellation Software, The SSI Group, Nthrive.
The revenue cycle management solutions market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Revenue Cycle Management Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Revenue Cycle Management Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Revenue Cycle Management Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Revenue Cycle Management Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Revenue Cycle Management Solutions Market Size & Forecast, 2020-2028
4.5.1 Revenue Cycle Management Solutions Market Size and Y-o-Y Growth
4.5.2 Revenue Cycle Management Solutions Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Integrated Solutions
5.2.2 Standalone Solutions
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Physicians
6.2.2 Hospitals
6.2.3 Laboratories
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Revenue Cycle Management Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Revenue Cycle Management Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Integrated Solutions
9.6.2 Standalone Solutions
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Physicians
9.10.2 Hospitals
9.10.3 Laboratories
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Integrated Solutions
10.6.2 Standalone Solutions
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Physicians
10.10.2 Hospitals
10.10.3 Laboratories
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Integrated Solutions
11.6.2 Standalone Solutions
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Physicians
11.10.2 Hospitals
11.10.3 Laboratories
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Integrated Solutions
12.6.2 Standalone Solutions
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Physicians
12.10.2 Hospitals
12.10.3 Laboratories
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Integrated Solutions
13.6.2 Standalone Solutions
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Physicians
13.10.2 Hospitals
13.10.3 Laboratories
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Revenue Cycle Management Solutions Market: Competitive Dashboard
14.2 Global Revenue Cycle Management Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cerner
14.3.2 Mckesson
14.3.3 Quest Diagnostics
14.3.4 Allscripts Healthcare Solutions
14.3.5 Athenahealth
14.3.6 GE Healthcare
14.3.7 Eclinicalworks
14.3.8 Conifer Health Solutions
14.3.9 EPIC Systems
14.3.10 Gebbs Healthcare Solutions
14.3.11 Experian
14.3.12 R1 RCM
14.3.13 Constellation Software
14.3.14 The SSI Group
14.3.15 Nthrive
