The Revenue Cycle Management (RCM) Market Is Set To Reach $163 Billion By 2026, Fueled By Rising Healthcare Expenditures As Per The Business Research Company’s Revenue Cycle Management (RCM) Global Market Report 2022

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According to The Business Research Company’s research on the RCM market, the global revenue cycle management market size is expected to grow from $90.24 billion in 2021 to $102.32 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. As per TBRC’s revenue cycle management (RCM) market report the market is expected to grow to $163.45 billion in 2026 at a CAGR of 12.4%.

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Increasing healthcare expenditures is expected to propel the growth of the revenue cycle management market going forward. Health expenditure will include all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid that have been designated for health. Healthcare facilities are adopting advanced solutions such as revenue cycle management for managing the administrative and clinical functions due to the rise in healthcare expenditure. These solutions are associated with claims processing, payment, and revenue generation. For instance, according to the U.S. Centres for Medicare & Medicaid Services, a US-based federal agency, in 2019, US healthcare spending increased by 4.6% reaching $3.8 trillion or $11,582 per person. This growth rate is substantially higher than in 2019 (4.3 %). Therefore, the increasing healthcare expenditure is driving the growth of the revenue cycle management market.

Technological advancements are a key trend gaining popularity in the revenue cycle management market. Major companies operating in the revenue cycle management market are focused on developing new technological solutions to strengthen their position. For instance, in June 2022, Olive, a US-based healthcare automation company launched its Autonomous Revenue Cycle (ARC) management suite of solutions that allows healthcare organizations to handle time-consuming administrative tasks using artificial intelligence in the revenue cycle and get paid quicker while reducing the uncompensated care risk. It integrates practice management systems and existing electronic health records.

North America was the largest region in the revenue cycle management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the revenue cycle management (RCM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the revenue cycle management (RCM) market are The SSI Group LLC, Allscripts Healthcare Solutions Inc, Experian Health, R1 RCM Inc, McKesson Corporation, Athenahealth Inc., Epic Systems Corporation, Quest Diagnostics Inc., Cerner Corporation, Constellation Software, GE Healthcare, eClinicalWorks, NXGN Management LLC, CareCloud Corporation, AdvantEdge Healthcare Solutions, Huron Consulting Group, Optum Inc, 3M, Cognizant, GeBBSHealthcare Solutions, Infosys Limited, Oracle Corporation, Accenture plc, and Conifer Health Solutions LLC.

The global revenue cycle management RCM market is segmented by product into integrated, standalone; by component into software, services; by function into claims and denial management, medical coding and billing, electronic health record (EHR), clinical documentation improvement (CDI), insurance, other functions; by deployment into web-based, cloud-based, on-premises; by end user into hospitals, general physicians, labs, other end users.

Revenue Cycle Management (RCM) Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide revenue cycle management (RCM) industry outlook, forecast revenue cycle management (RCM) market size and revenue cycle management (RCM) market growth, RCM market segments, RCM market trends, revenue cycle management market drivers and restraints, revenue cycle management market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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