Revenue Cycle Management Market worth $84.1 billion by 2028

As per the recently published report by MarketsandMarket™, The report "Revenue Cycle Management Market by Product & Services (Eligibility Verification, Clinical Coding, CDI Solutions, Claims Processing, Denial Management, Outsourcing Services), Delivery (Cloud), End Users (Payers, Hospitals) - Global Forecast to 2028", is projected to reach USD 84.1 billion by 2028 from USD 49.6 billion in 2023, at a CAGR of 11.1% during the forecast period.

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• 282     Market Data Tables
• 40       Figures
• 275     Pages and in-depth TOC on "Revenue Cycle Management Market - Global Forecast to 2028”

Some of the prominent key players are:

• R1 RCM (US),
• Oracle (US),
• Optum (US) 
• McKesson Corporation (US),
• Change Healthcare (US),
• 3M (US),
• Experian plc (Ireland), and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Revenue Cycle Management Market.

• The outsourced services segment is anticipated to expand at a considerable CAGR among the product & service categories throughout the forecast period. This can be attributed to its ability to optimize revenue cycle operations through the utilization of specialized resources and expertise from third-party providers. By doing so, healthcare organizations can focus on their core competencies, achieve cost reductions, and enhance operational efficiency.
• In 2022, the on-premise segment held the largest market share for revenue cycle management globally. The significant market share of this segment can be attributed to the security and data safety features possessed by on-premise deployment.
• Healthcare payers and providers are the two market segments for revenue cycle management based on end users. RCM offers numerous benefits for healthcare providers, helping them optimize financial performance, improve operational efficiency, and enhance the overall patient experience. 
• In 2022, North America held the largest market share for revenue cycle management. The large share of this region can be attributed to several factors, including strict regulations, an increase in the number of claims denials, well-established government payers and high numbers of private healthcare payers, and a sizable number of healthcare IT companies.

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The shift from fee-for-service to value-based reimbursement models is transforming the RCM market. Value-based reimbursement models are based on patient outcomes rather than the volume of treatments rendered to patients. Value-based reimbursement models have enhanced patient experience and facilitated financial workflows for providers. This has positively impacted the RCM market growth to a certain extent. Also, growing regulatory requirements & government initiatives are expected to drive demand of the RCM market during the forecast period.