Revenue Cycle Management Market Size, Share, and Trends 2024 to 2034

Revenue Cycle Management Market Size and Forecast 2024 to 2034

The global revenue cycle management market size accounted for USD 151.91 billion in 2024 and is predicted to reach around USD 451.29 billion by 2034, growing at a CAGR of 11.50% from 2024 to 2034.

Revenue Cycle Management Market Key Takeaways

• North America dominated the moisture curing adhesive market in 2023.
• By offering, the Software segment dominated the market in 2023.
• By offering, the Service offering segment is expected to grow rapidly in the market during the forecast period.
• By type, the integrated segment dominated the market in 2023.
• By end-user, the physician offices segment led the global market in 2023.

U.S. Revenue Cycle Management Market Size and Growth 2024 to 2034

The U.S. revenue cycle management market size was valued at USD 52.36 billion in 2023 and is expexted to be worth around USD 175.23 billion by 2034, at a CAGR of 12% from 2024 to 2034.

North America emerged as a dominant region for global revenue cycle management market in past year and held for over 42% of the global revenue share. Presence of key market participant, well developed healthcare infrastructure, favorable regulations and growing geriatric population are the major driving factors for the growth of the region.

Asia Pacific is expected to fastest growing market for revenue cycle management market in years to come and is predicted to grow at a CAGR of 15.8%. China, India and Japan is estimated to contribute the major revenue in Asia Pacific region. Favorable government initiatives, growing patient population/base suffering from various chronic diseases and need for process improvements in healthcare sector are the major factors expected to favor the growth of revenue cycle management in Asia Pacific region in near future.

Revenue Cycle Management Market Growth Factors

Growing demand for cloud-based revenue cycle management solutions paired with loss of revenue due to billing mistakes are emerged as major driving factors for the growth of revenue cycle managements (RCM) market in near future. Revenue cycle management is the backbone of the healthcare sector and operates at the well-designed core of a healthcare association ranging from small practice to huge hospital.

Moreover, significant growth on healthcare spending in emerging countries and growing demand for advanced healthcare systems is estimated to support the growth of global revenue cycle management market in years to come. However, IT infrastructural limitations in developing countries coupled along with shortage of skilled information technology professionals may adversely impact the global revenue cycle management in forecast period.

Favorable regulatory compliance, increasing need of process improvements in healthcare sectors and rising spending on healthcare are the major factor estimated to drive the global revenue cycle management market in years to come. Standalone type segment is expected to lose it revenue share in coming years owing to increasing adoption of integrated type revenue cycle management system by healthcare professional and hospitals.

Revenue Cycle Management Market Companies

Offering Insights

Software and services are offering the segment of global revenue cycle management (RCM) market. Software segment accounted for largest revenue share in 2023. Availability of software as per customer need is expected to shape the global revenue cycle management market in coming years.

Service offering segment is estimated to fastest growing segment in analysis period and projected to grow at a CAGR of 15.9%, owing to growing trend of outsourcing revenue cycle management services. Healthcare organization is facing a lack of resources and skill sets essential for the deployment of revenue cycle management. Henceforth, they are entirely or partly outsourcing services, where the outsourced company manages the RCM activities.

Type Insights

Based on type the market is segmented into standalone and integrated. Integrated type segment held the largest revenue share in 2023 and also predicted to grow with highest CAGR amongst type segment.

The Integrated type segment accounted for 71.7% of revenue share in past year. The growth of this segment is mainly driven by growing acceptance of value-based payment systems and rising demand for cost-effective data management solutions.

End User Insights

On the basis of end user, the global revenue cycle management market has been segmented into physician offices, hospitals, diagnostic laboratories and others. Physician offices held the 39.6% of revenue share in 2023 owing to increasing demand to manage the clinical documentation improvement and billing services in their clinics. Mounting adoption of integrated practice management systems is also predicted to show noticeable growth in years to come.

Key Companies & Market Share Insights

Market participant operating in revenue cycle management market are adopting various business strategies such as partnerships, strategic collaborations, acquisition to sustain and acquire the higher market share in global revenue cycle management marketplace. Furthermore, continuous launching of new product according to client specific requirement and cost effective solution will be the key strategy of market participant.

Revenue Cycle Management Market Companies

• Cerner Corporation
• McKesson Corporation
• Quest Diagnostics Incorporated
• Allscripts Healthcare Solutions
• Athenahealth
• CareCloud
• Emdeon
• The SSI Group Inc
• GE Healthcare
• Eclinicalworks
• Meditech
• Epic Systems
• Conifer Health Solutions
• Gebbs Healthcare Solutions
• Constellation Software
• Experian PLC
• NextGen Healthcare Information System LLC

Some of the recent activities by revenue cycle management market players are as-

• In, July 2020, GeBBS Healthcare Solutions, Inc., announced a RCM partnership with INTEGRIS Health. GeBBS will provide strategic outsourcing solutions to INTEGRIS to help optimize their revenue cycle by leveraging technology enabled innovative solutions to reduce operating and capital costs, recover revenue, improve patient satisfaction, and increase productivity.
• In July, 2020,MTBC, Inc. a provider of cloud-based healthcare IT solutions and services, including telehealth, announced that its talkEHR platform has been selected by Bienestar Health Group, to deliver ambulatory care providers in Puerto Rico with MTBC AI-powered, cloud-based EHR/Telehealth platform as a white-labeled solution.

Segments Covered in the Report

This research study comprises comprehensive assessment of the marketplace revenue with the help of prevalent quantitative and qualitative acumens, and forecasts of the market. This report presents breakdown of market into major and niche segments. Furthermore, this research study gauges market revenue growth and its drift at global, regional, and country from 2020 to 2032. This report includes market division and its revenue assessment by categorizing it depending on product type, type, deployment, end user and region: 

By Deployment

• Web-Based
• On-Premise
• Cloud-Based

By Offering

• Services
• Software

By Type

• Standalone
• Integrated

By End User

• Hospitals
• Physician Offices
• Diagnostic Laboratories
• Others (Pharmacies, academic medical centers etc.)

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World