The U.S. revenue cycle management market size is expected to reach USD 308.12 billion by 2030, growing at a CAGR of 10.18% over the forecast period, according to a new report by Grand View Research, Inc. The rapidly transforming healthcare system and adoption of digitalization are paving a path for implementing healthcare IT services such as Revenue Cycle Management (RCM) systems to organize and streamline workflows of healthcare organizations using synchronized management software solutions.
Moreover, healthcare systems in the U.S. are experiencing substantial changes with the adoption of electronic procedures for managing claims and reimbursements. The presence of numerous distinguished healthcare establishments, rising healthcare consciousness & expenditure, and increasing digital literacy are anticipated to boost market growth. Supportive regulatory alterations from government bodies and consistent technological advancements by market stakeholders are projected to further propel growth. The growing need for ongoing technological advancements is compelling the participants to revise their product development approaches to enhance the provider-patient connection within healthcare institutions. Key stakeholders are concentrating on alliances, acquisitions, and strategic collaborations with other industry participants to merge expertise & expand their market presence.
Gather more insights about the market drivers, restrains and growth of the U.S. Revenue Cycle Management Market
In January 2024, Veradigm LLC announced the acquisition of Koha Health, a full-service RCM provider. The acquisition added further expertise in the Musculoskeletal Medicine (MSK) specialty to the Veradigm Network while also strengthening its capacity to provide revenue cycle services to Ambulatory Surgical Centers (ASCs) and ambulatory healthcare provider practices that use diverse Electronic Health Record (EHR) systems. Veradigm is enhancing its comprehensive revenue cycle services range to offer better value to clients and tap into additional growth opportunities.
U.S. Revenue Cycle Management Market Report Highlights
On the basis of product type, the integrated system spearheaded the market in 2023 due to the growing demand from healthcare organizations for a synchronized single platform to manage financial activities.On the basis of delivery mode, the web-based delivery mode segment dominated the market in 2023 due to the cost-effectiveness and rapid deployment of these solutions.On the basis of end-use, the hospitals end-use segment led the market in 2023 due to the presence of well-established hospitals and growing healthcare IT infrastructure.The others physician specialty segment dominated the market in 2023 due to increase in insurance coverage for other healthcare services.The claim management segment led the market in 2023 in the function segment due to the increasing patient volume and the presence of ineffective claim management systems.In September 2022, AGS Health introduced a connected solution that blends automation and Artificial Intelligence (AI) called AGS AI Platform. This solution aims to deliver seamless integration and robust process automation to ease labor shortages and allow flexible, scalable growth.
Browse through Grand View Research's Healthcare IT Industry Research Reports.
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U.S. Revenue Cycle Management Market Segmentation
Grand View Research has segmented the U.S. revenue cycle management market based on end-use, product type, component, delivery mode, physician specialty, sourcing, and function:
U.S. Revenue Cycle Management Product Type Outlook (Revenue, USD Billion, 2018 - 2030)
Integrated SystemStandalone SystemU.S. Revenue Cycle Management Component Outlook (Revenue, USD Billion, 2018 - 2030)
Software SolutionServicesU.S. Revenue Cycle Management Delivery Mode Outlook (Revenue, USD Billion, 2018 - 2030)
On-PremiseWeb-BasedCloud-BasedU.S. Revenue Cycle Management Physician Specialty Outlook (Revenue, USD Billion, 2018 - 2030)
OncologyCardiologyAnesthesiaRadiologyPathologyPain ManagementEmergency ServicesOthersU.S. Revenue Cycle Management Sourcing Outlook (Revenue, USD Billion, 2018 - 2030)
In-houseExternal RCM Apps/SoftwareOutsourced RCM ServicesU.S. Revenue Cycle Management Function Outlook (Revenue, USD Billion, 2018 - 2030)
Product DevelopmentMember EngagementNetwork ManagementCare ManagementClaim ManagementRisk and CompliancesU.S. Revenue Cycle Management End-use Outlook (Revenue, USD Billion, 2018 - 2030)
HospitalsPhysician & Clinical ServicesOrder a free sample PDF of the U.S. Revenue Cycle Management Market Intelligence Study, published by Grand View Research.
