What Does The Revenue Cycle Management (RCM) Market Outlook Look Like?
The revenue cycle management (RCM) market size has shown significant growth in recent years. It is set to rise from $137.6 billion in 2024 to $156.46 billion in 2025 at a compound annual growth rate (CAGR) of 13.7%. Several factors fueling this expansion include the implementation of electronic health records (EHRs), healthcare reforms and increased healthcare costs, along with a shift toward better billing and collections, and growth in healthcare facilities.
Furthermore, it is forecasted that the RCM market size will continue its rapid expansion in the following years, reaching $275.86 billion by 2029 at a CAGR of 15.2%. This predicted growth in the market can be attributed to a transition to value-based care models, integration of AI and machine learning in RCM, growing telehealth and remote patient interactions, patient-centric financial experiences, consolidation of RCM services, a focus on billing and coding complexities, and enhanced data analytics for revenue optimization.
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What Are The Key Drivers for Revenue Cycle Management (RCM) Market Growth?
The notable surge in healthcare expenditures is propelling the growth of the revenue cycle management market. A rise in these expenditures includes healthcare services, family planning activities, nutrition activities, and emergency aid this has significantly driven healthcare facilities to adopt advanced solutions such as revenue cycle management. In July 2024, the American Medical Association noted a rise of 4.1% in US health expenditures, totaling $4.5 trillion. This increase is substantially encouraging the growth of the RCM market.
Which Are The Major Segments in The Global Revenue Cycle Management (RCM) Market?
• By Product: Integrated, Standalone
• By Component: Software, Services
• By Function: Claims And Denial Management, Medical Coding and Billing, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Insurance, Other Functions
• By Deployment: Web-Based, Cloud-Based, On-Premises
• By End User: Hospitals, General Physicians, Labs, Other End Users
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Which Are The Major Companies Operating in The Revenue Cycle Management (RCM) Market?
Key players in the RCM market encompass The SSI Group LLC, Allscripts Healthcare Solutions Inc., Experian Health Inc., R1 RCM Inc., McKesson Corporation, Athenahealth Inc., Epic Systems Corporation, Quest Diagnostics Inc., Cerner Corporation, Constellation Software Inc., GE Healthcare Technologies Inc., eClinicalWorks India Private Limited, NXGN Management LLC, CareCloud Corporation, AdvantEdge Healthcare Solutions, Huron Consulting Group, Optum Inc., 3M Company, Cognizant Technology Solutions Corp., GeBBS Healthcare Solutions, Infosys Limited, Oracle Corporation, Accenture plc, Conifer Health Solutions LLC, Access Healthcare Services Pvt. Ltd., CareStack, Distributed Control System, Dental Revenue Cycle Management, Dental Revenue Group Inc., Dental Robot, eAssist Dental Solutions, Med Healthcare Revenue Cycle Management, Medusind Solutions, Convergent Technologies Inc., Drchrono Inc.
What Are The Emerging Trends in The Revenue Cycle Management (RCM) Market?
Technological advancements like AI and machine learning are emerging quickly in the RCM industry. As companies strive to strengthen their position, they focus predominantly on developing new tech solutions. For example, in June 2022, Olive, a US-based healthcare automation company introduced its Autonomous Revenue Cycle (ARC) management suite. These solutions allow healthcare organizations to manage ponderous administrative tasks and handle revenue cycles more quickly and efficiently.
Which Region Leads In The Revenue Cycle Management (RCM) Market?
North America came out on top as the largest region in the RCM market in 2024. It is predicted that the Asia-Pacific will be the fastest-growing region in the forecast period.
What Does The Revenue Cycle Management (RCM) Market Report 2025 Offer?
Revenue cycle management is a service used by healthcare providers to maintain their financial stability. It helps in tracking patient care from registration to the final payment of a balance. The Revenue Cycle Management (RCM) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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