U.S. Revenue Cycle Management Market Size, Share & Trends Analysis Report By End-user, By Product Type, By Component, By Delivery Mode, By Physician Specialty, By Sourcing, By Function, And Segment Forecasts, 2023 - 2030

Market Segmentation

• U.S. Revenue Cycle Management End-user Outlook (Revenue, USD Billion, 2017 - 2030)
  • Hospitals
  • Physician & Clinical Services
• U.S. Revenue Cycle Management Product Type Outlook (Revenue, USD Billion, 2017 - 2030)
  • Integrated System
  • Standalone System
• U.S. Revenue Cycle Management Component Outlook (Revenue, USD Billion, 2017 - 2030)
  • Software Solution
  • Services
• U.S. Revenue Cycle Management Delivery Mode Outlook (Revenue, USD Billion, 2017 - 2030)
  • On-Premise
  • Web-Based
  • Cloud Based
• U.S. Revenue Cycle Management Physician Specialty Outlook (Revenue, USD Billion, 2017 - 2030)
  • Oncology
  • Cardiology
  • Anesthesia
  • Radiology
  • Pathology
  • Pain Management
  • Emergency Service
  • Others
• U.S. Revenue Cycle Management Sourcing Outlook (Revenue, USD Billion, 2017 - 2030)
  • In-house
  • External RCM Apps/ Software
  • Outsourced RCM Services
• U.S. Revenue Cycle Management Function Outlook (Revenue, USD Billion, 2017 - 2030)
  • Product Development
  • Member Engagement
  • Network Management
  • Care Management
  • Claims Management
  • Risk and Compliances

U.S. Revenue Cycle Management Market Dynamics

Driver: Increasing adoption of mHealth

The rising interest of consumers in care management process is one of the key drivers for growing adoption of mHealth technologies by patients. The popularity of mHealth apps is rising among physicians. These apps help in diagnosis, consulting, monitoring, and treatment of common diseases. Healthcare providers are increasingly showing interest in such services and are recommending these to patients. The adoption of mHealth in healthcare organizations is high, and 90% of the organizations have implemented or are planning to implement mHealth initiatives at patient rooms, physician offices, and nursing stations. Advancements in wearable and connected health technologies is also one of the key factors driving the adoption of mHealth. Growing dependence upon wearables for monitoring physical activity and tracking health is a key factor responsible for considerable growth of wearable technologies.

As these apps are available on smartphones, doctors have easy access and can easily look for medical information. For instance, UpToDate is an app that allows access to general questions that a physician normally asks. About 100 hospitals in the UK have subscribed to UpToDate app. mHealth offers benefits such as cost reduction, enhanced accessibility, and communication services between remote patients and healthcare providers. Over 90% of the apps are free and users can easily download these from the app store. Increasing availability of mHealth apps and its profile of wellness and fitness providers is expected to drive the growth of mHealth market.

Driver: Growth in outsourcing of RCM

The healthcare industry can leverage the efficacy & economic value presented by third-party RCM service providers and focus more on their key purpose, which is patient care. The changing aspects of outsourcing in healthcare RCM are largely driven by finances, business prospects, and value addition. The major advantages of outsourcing RCM tasks include availability of skilled & trained professionals, cost-effective & efficient services, and compliance with rules & regulations. Reventics aligned with Mathlogic to establish a Center of Excellence (COE) for clinical analytics in Hyderabad. The COE will help develop a value-centric patient care system.

Restraint: Lack of professionals to handle RCM processes

Healthcare facilities witness challenges in terms of resource allotment & management, rising costs, and management of insurance claims. This increases the need for skilled professionals with technical knowledge to manage HIT systems deployed at these facilities. However, the RCM system is a recent development in healthcare IT. Hence, there is a dearth of skilled professionals who can efficiently manage this system. RCM systems can aid in management of billing & reimbursements and data analysis across the healthcare industry. Skilled professionals are required to manage these complex functions. To minimize the impact of this restraint, hospitals and other healthcare facilities are outsourcing either whole or a part of their RCM process.

What Does This Report Include?

This section will provide insights into the contents included in this U.S. revenue cycle management market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

U.S. revenue cycle management market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

U.S. revenue cycle management market quantitative analysis

• Market size, estimates, and forecast from 2017 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance