Market Research Report
Revenue Cycle Management Market Share, Size, Trends, Industry Analysis Report, By Product Type ; By Type ; By Deployment ; By End-Use ; By Regions; Segment Forecast, 2021 - 2028
|Revenue Cycle Management Market Share, Size, Trends, Industry Analysis Report, By Product Type ; By Type ; By Deployment ; By End-Use ; By Regions; Segment Forecast, 2021 - 2028|
Published: May 1, 2021
Polaris Market Research
Content info: 118 Pages
Delivery time: 1-2 business days
The global revenue cycle management market size is expected to reach USD 613.45 billion by 2028 according to a new study by Polaris Market Research. The report "Revenue Cycle Management Market Share, Size, Trends, Industry Analysis Report, By Product Type (Software, Services); By Type (Integrated, Standalone); By Delivery Mode (On-premise, Web-based, Cloud based); By End-Use (Physician Offices, Hospitals, Diagnostic Laboratories); By Regions; Segment Forecast, 2021 - 2028" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Major advantages in outsourcing revenue cycle management services are the availability of skilled professionals, compliance, regulations, and cost-effective services. Owing to such advantages, there is an increasing trend of outsourcing revenue cycle management services over the past few years.
For instance, according to the research done by the Med-USA, around two-thirds of the healthcare facilities are using outsourcing services for their daily workflow management. Hence, increasing adoption of such systems is likely to garner high revenue generation during the revenue cycle management study period.
However, lack of a proper reimbursement system among insurance providers and other stakeholders and lack of trust in government and private insurers is one of the hurdles in the market growth. For instance, according to the research done by the Healthcare Financial Management Association (HFMA), the average time required to reimburse payment by Medicare or Medicaid is around 28 days, while private insurers take twice more time in the processing of claims. Such delay and plausible discrepancies in reimbursement are creating hurdles in the adoption of such services.
Asia Pacific market for revenue cycle management is expected to witness a lucrative growth rate over the market assessment period. Rising healthcare expenditure, unmet medical needs of the population, and supportive government initiatives are the key market factors primarily responsible for the market growth for revenue cycle management.
Moreover, the region comprises of two most populous nations, India, and China, where there is an urgent need to offer necessary medical attention at a reasonable cost for the ever-rising lifestyle-borne chronic conditions. Thus, this high-impact rendering driver is expected to boost market demand for revenue cycle management systems.
Market companies operating in the revenue cycle management industry 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., and R1 RCM Inc.
Polaris Market Research has segmented the revenue cycle management market report on the basis of product, type, delivery mode, end-use, and region:
Revenue Cycle Management, Product Outlook (Revenue - USD Million, 2016 - 2028)
Revenue Cycle Management, Type Outlook (Revenue - USD Million, 2016 - 2028)
Revenue Cycle Management, Delivery Mode Outlook (Revenue - USD Million, 2016 - 2028)
Revenue Cycle Management, End Use Outlook (Revenue - USD Million, 2016 - 2028)
Revenue Cycle Management, by Regional Outlook (Revenue - USD Million, 2016 - 2028)
Central & South America
Middle East & Africa
List of Tables
Figure 1. Market Highlights (2020, Revenue)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top Down & Bottom Up End Use
Figure 4. Market by Geography
Figure 6. Porter's Five Forces
Figure 7. Market by Product Type
Figure 8. Global Revenue Cycle Management Market, By Product Type, 2020 & 2028 (USD Million)
Figure 9. Market by Type
Figure 8. Global Revenue Cycle Management Market, By Type, 2020 & 2028 (USD Million)
Figure 9. Market by Deployment
Figure 10. Global Revenue Cycle Management Market, By Deployment, 2020 & 2028 (USD Million)
Figure 11. Market by End Use
Figure 12. Global Revenue Cycle Management Market, By End Use, 2020 & 2028 (USD Million)
Figure 13. Revenue Cycle Management Market Assessment, By Geography, 2016-2028 (USD Million)
Figure 14. Strategic Analysis - Revenue Cycle Management Market