Revenue Cycle Management Market 2021 Latest Trends, Demand, Growth,
COVID-19 Impact, Opportunities & Outlook till 2028
The global revenue cycle management market size was valued at USD 261.8 billion in 2020 and is
expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2021 to 2028. Rising
need for optimization of organizational workflow coupled with growing innovation in synchronized
management software and systems is anticipated to promote market growth.
Increasing technological advancements and rising adoption of revenue cycle management (RCM)
tools by various healthcare providers and others have led to the development and up-gradation of
solutions provided by key players. For instance, in January 2020, R1 RCM announced the launch of
R1 Professional, a physician revenue cycle management solution, for serving large hospital-owned
medical groups and groups with independent practices. This will help in providing a standardized
revenue cycle management strategy of operations and reimbursement models.
Key Player Mentioned:
The SSI Group, Inc.
AllScripts Healthcare, LLC
Experian Health, R1 RCM Inc.
Epic Systems Corporation
NXGN Management, LLC
Quest Diagnostics, Inc.
R1 RCM Inc.
The major advantages of outsourcing the revenue cycle management are the availability of skilled
and trained professionals, cost-effective and efficient services, and compliance to required rules and
regulations. These advantages have led to the increased adoption of outsourcing services in recent
years. For instance, as per the 2020 article published in Med USA, around two-thirds of the
healthcare organizations are utilizing outsourcing services for their revenue cycle management needs.
Hence, such increasing adoption is likely to fuel the growth of the market for revenue cycle
management during the forecast period.
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