Revenue Income Money Profit Costs Budget Banking Concept
Precedence Research recently published a report on “Revenue Cycle Management Market (By Offering: Services and Software; By Type: Standalone and Integrated; By Deployment: Web-Based, On-Premise and Cloud-Based; By End User: Hospitals, Physician Offices, Diagnostic Laboratories and Others) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, The global revenue cycle management market size is projected to reach USD 135.12 billion by 2027 from an estimated USD 65.96 billion in 2019, at a CAGR of 12.2% from 2020 – 2027.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This research report evaluates revenue cycle management market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global revenue cycle management market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2027 along with a forecast from 2020 to 2027 based on value.
Revenue cycle management (RCM) is a wide term covering the financial side of healthcare. Healthcare is frequently thought of as a two party arrangement including the patient and healthcare professionals. Though, there is a critical third party involved. This group is made up of qualified professionals who are involved with the patient from the start of their care to the very end when payment is made. A well-managed revenue cycle management RCM system converts into stable revenue.
Revenue cycle management is the revenue driver of healthcare. It is the business practice that takes a clinical service occasion and turns it into dollars for the hospital. With RCM, all clinical encounters are documented through medical records. Some of the major functions of revenue cycle management is clinical documentation improvement (CDI), claims & denial management, medical coding & billing, patient insurance eligibility verification, payment remittance, electronic health record (EHR) and various others.
Scope of the Study
This revenue cycle management market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Report Highlights
Growth Factors
The growth of revenue cycle management (RCM) market is mainly driven by government initiatives to support the adoption of RCM solutions paired with rising need of process improvements in healthcare sectors. In addition, growing complexity in revenue cycle, old technology, and limitations in staffing qualified employees is also predicted to propel the demand for revenue cycle management (RCM) market in years to come. On the contrary, high costs associated with revenue cycle management deployment and shortage of skilled IT professionals may limit the growth of market in years to come. Even so, increasing market for outsourced RCM solutions is expected to open up plenty of opportunities for market participant in near future.
COVID-19 Impact
The Coronavirus (COVID-19) and the subsequent “Stay Home” orders have deeply impacted every industry. Diagnostic leaders are analyzing their balance sheets to decide whether they can cut costs efficiently while they deal with major volume increases in testing, potentially adjusting their test mix while keeping their employees active and safe. According to the American Hospital Association (AHA) latest reports, hospitals and health systems are bleeding more than USD 50 billion every month – and potentially up to USD 1 to USD 1.2 billion per day. Hospitals and health system in America have stepped up heroically and unprecedentedly. However, fighting with virus has created the biggest financial crisis for hospitals and health systems in history.
Regional Snapshots
In 2019, North America dominated the global revenue cycle management market and accounted over 41.1% of the revenue share. Rising number of hospital, high spending on healthcare and presence of major market players are some of the key driving factor for the growth of North America region. Furthermore, growing HCIT investments in United and Canada is also shaping the growth of revenue cycle management market. Europe held the second largest market in the revenue cycle management due to enhanced digitization paired with increasing focus on data integration, data quality, data governance and management over the forecast period.
Asia Pacific is projected to be the fastest growing region in revenue cycle management market. The major factor driving the Asia Pacific market will include technological innovations, infrastructure development and increased adoption of revenue cycle management in the region’s health care facilities. China, Japan and India are the main countries in the region that are rapidly adopting these management products and services, thereby boosting the global revenue cycles management market. Countries in Latin America such as Brazil and Mexico have significant growth potential due to the evolving medical system, high disposable income and rising emphasis of multinationals that have developed their operational establishments in Latin America.
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the revenue cycle management market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the revenue cycle management market include:
Segments Covered in the Report
By Deployment
By Offering
By Type
By End User
By Regional Outlook
Key Takeaways
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Revenue Cycle Management Market, By Deployment
7.1. Revenue Cycle Management Market, by Deployment Type, 2020-2027
7.1.1. Web-Based
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. On-Premise
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Cloud-Based
7.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Revenue Cycle Management Market, By Offering
8.1. Revenue Cycle Management Market, by Offering, 2020-2027
8.1.1. Services
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Revenue Cycle Management Market, By Type
9.1. Revenue Cycle Management Market, by Type, 2020-2027
9.1.1. Standalone
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Integrated
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10. Global Revenue Cycle Management Market, By End-User
10.1. Revenue Cycle Management Market, by End-User, 2020-2027
10.1.1. Hospitals
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Physician Offices
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Diagnostic Laboratories
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Others (Pharmacies, academic medical centers etc.)
10.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 11. Global Revenue Cycle Management Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.1.2. Market Revenue and Forecast, by Offering (2016-2027)
11.1.3. Market Revenue and Forecast, by Type (2016-2027)
11.1.4. Market Revenue and Forecast, by End-User (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.1.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Offering (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Type (2016-2027)
11.1.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.2.2. Market Revenue and Forecast, by Offering (2016-2027)
11.2.3. Market Revenue and Forecast, by Type (2016-2027)
11.2.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.2.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Offering (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Type (2016-2027)
11.2.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Offering (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Type (2016-2027)
11.2.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Offering (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Type (2016-2027)
11.2.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.3.2. Market Revenue and Forecast, by Offering (2016-2027)
11.3.3. Market Revenue and Forecast, by Type (2016-2027)
11.3.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.3.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Offering (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Type (2016-2027)
11.3.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Offering (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Type (2016-2027)
11.3.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Offering (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Type (2016-2027)
11.3.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.4.2. Market Revenue and Forecast, by Offering (2016-2027)
11.4.3. Market Revenue and Forecast, by Type (2016-2027)
11.4.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.4.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Offering (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Type (2016-2027)
11.4.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Offering (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Type (2016-2027)
11.4.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Offering (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Type (2016-2027)
11.4.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Offering (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Type (2016-2027)
11.5.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Deployment (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Offering (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Type (2016-2027)
11.5.6.4. Market Revenue and Forecast, by End-User (2016-2027)
Chapter 12. Company Profiles
12.1. Cerner Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. McKesson Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Quest Diagnostics Incorporated
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Allscripts Healthcare Solutions
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Athenahealth
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. CareCloud
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Emdeon
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. The SSI Group Inc
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. GE Healthcare
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Eclinicalworks
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Meditech
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. Epic Systems
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
12.13. Conifer Health Solutions
12.13.1. Company Overview
12.13.2. Product Offerings
12.13.3. Financial Performance
12.13.4. Recent Initiatives
12.14. Gebbs Healthcare Solutions
12.14.1. Company Overview
12.14.2. Product Offerings
12.14.3. Financial Performance
12.14.4. Recent Initiatives
12.15. Constellation Software
12.15.1. Company Overview
12.15.2. Product Offerings
12.15.3. Financial Performance
12.15.4. Recent Initiatives
12.16. Experian PLC
12.16.1. Company Overview
12.16.2. Product Offerings
12.16.3. Financial Performance
12.16.4. Recent Initiatives
12.17. NextGen Healthcare Information System LLC
12.17.1. Company Overview
12.17.2. Product Offerings
12.17.3. Financial Performance
12.17.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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