Revenue Cycle Management (RCM) Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company's Revenue Cycle Management (RCM) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, September 11, 2024 /EINPresswire.com/ -- The global revenue cycle management (RCM) market has experienced rapid growth in recent years, with the market size increasing from $119.88 billion in 2023 to $136.76 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14.1%. This growth has been driven by the implementation of electronic health records (EHRs), healthcare reforms, rising healthcare costs, and the growing focus on improving billing and collections. The market is poised to continue its upward trajectory, projected to reach $235.76 billion by 2028, at an accelerated CAGR of 14.6%. The forecasted growth is expected to be driven by the transition to value-based care models, integration of AI and machine learning in RCM, and the rise of telehealth and remote patient interactions.

Rising Healthcare Expenditure Drives Revenue Cycle Management Market Growth
The increasing healthcare expenditures are a key factor propelling the growth of the revenue cycle management market. Healthcare facilities are increasingly adopting advanced RCM solutions to manage administrative and clinical functions efficiently. These solutions are crucial for processing claims, payments, and generating revenue, particularly as healthcare costs continue to rise. For instance, the National Health Expenditure (NHE) report by the Centers for Medicare & Medicaid Services predicts a 5.1% annual increase in national health spending from 2021 to 2030, reaching approximately $6.8 trillion by 2030. This surge in healthcare spending is expected to drive further adoption of RCM solutions, facilitating market growth.

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Key Players and Market Trends
Major companies operating in the revenue cycle management (RCM) market include 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., and eClinicalWorks India Private Limited. These companies are focusing on technological advancements to strengthen their market positions. For instance, Olive, a US-based healthcare automation company, launched its Autonomous Revenue Cycle (ARC) management suite in June 2022. This AI-powered solution allows healthcare organizations to manage time-consuming administrative tasks more efficiently, enabling quicker payments and reducing the risk of uncompensated care.

Segments:
• Product Type: Integrated, Standalone
• Component: Software, Services
• Function: Claims And Denial Management, Medical Coding and Billing, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Insurance, Other Functions
• Deployment: Web-Based, Cloud-Based, On-Premises
• End User: Hospitals, General Physicians, Labs, Other End Users

Geographical Insights: North America Leading The Market
In 2023, North America was the largest market for revenue cycle management, driven by the region's advanced healthcare infrastructure and high adoption rates of RCM solutions. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, owing to the increasing healthcare expenditures and rapid adoption of digital health technologies in the region.

Access the complete report for an in-depth analysis of the global revenue cycle management (RCM) market: https://www.thebusinessresearchcompany.com/report/revenue-cycle-management-rcm-global-market-report

Revenue Cycle Management (RCM) Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Revenue Cycle Management (RCM) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on revenue cycle management (RCM) market size, revenue cycle management (RCM) market drivers and revenue cycle management (RCM) market trends, revenue cycle management (RCM) market major players, revenue cycle management (RCM) market competitors' revenues, revenue cycle management (RCM) market positioning, and revenue cycle management (RCM) market growth across geographies. The revenue cycle management (RCM) market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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