Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Revenue Cycle Management Market size is expected to reach $227.8 billion by 2028, rising at a market growth of 12.0% CAGR during the forecast period.
The Physicians segment is showcasing a CAGR of 12.2% during (2022 - 2028). These systems are widely employed by physicians and their personnel, including consultants, nurses, and office managers, to facilitate the efficient operation of their units. The market for revenue cycle management is projected to be driven by a regional emphasis on increasing the number of physicians and healthcare facilities. Private medical offices face various economic obstacles, including physician reimbursement, rising operational expenses, and patient satisfaction.
The Web-based segment acquired maximum revenue share in the Global Revenue Cycle Management Market by Deployment in 2021 thereby, achieving a market value of $123.4 billion by 2028. This is due to the increasing adoption of web-based solutions. Web-based delivered solutions do not necessitate additional hardware or storage. Instead, they may be placed off-site and managed by a third party, accelerating their acceptance over on-premise delivered solutions. The benefits of web-based systems include their affordability and rapid deployment.
The Services segment has shown the growth rate of 13.5% during (2022 - 2028). This is due to the growth of cloud-based RCM and the demand for professional services. In addition, strengthening healthcare infrastructure and spending to address unmet medical needs in developing countries increases the demand for RCM services.
The Integrated segment is generating highest revenue share in the Global Revenue Cycle Management Market by Type in 2021 thereby, achieving a market value of $155.6 billion by 2028. This results from enhanced healthcare infrastructure, higher healthcare-related spending to serve untapped markets in emerging nations, issues encountered during accounts receivable (AR) administration & claims processing, and rising demand to minimize cycle time.
The North America market dominated the Global Revenue Cycle Management Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $105.9 billion by 2028. The Europe market is experiencing a CAGR of 12.3% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 13.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/revenue-cycle-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Quest Diagnostics Incorporated, Athenahealth, Inc. (Veritas Capital), GE HealthCare Technologies, Inc., Experian PLC, R1 RCM, Inc., Epic Systems Corporation, eClinicalWorks LLC, McKesson Corporation, Oracle Corporation (Cerner Corporation), and AllScripts Healthcare Solutions, Inc.
Unique Offerings from KBV Research
North America Revenue Cycle Management Market size & Opportunities 2022-2028
Europe Revenue Cycle Management Market & Growth Forecast 2022-2028
Asia Pacific Revenue Cycle Management Market Share & Industry Outlook to 2028
LAMEA Revenue Cycle Management Market Growth, Trends & Forecasts 2022-2028