Revenue Cycle Management Market Increasing Demand, Growth Analysis and Future Outlook by 2031

Global revenue cycle management (RCM) market is anticipated to grow at a CAGR of 9.4% during the forecast period (2024-2031). The escalating need for efficient revenue cycle management solutions in healthcare is a key catalyst for market expansion. With the complexity of healthcare billing, reimbursement procedures, and regulatory compliance, healthcare providers are actively seeking advanced RCM solutions. These solutions aim to streamline revenue cycles, mitigate billing errors, optimize cash flow, and enhance operational efficiency. Furthermore, the industry's transition towards value-based care models, alongside regulatory changes and the imperative for cost containment, further propels investment in RCM solutions. These investments are geared towards refining revenue processes and staying abreast of evolving market demands.

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• In January 2024, R1 RCM Inc. acquired Acclara from Providence, a health systems provider. This acquisition aims to strengthen R1 RCM Inc.'s market and enable the company to implement state-of-the-art technology solutions and enhance execution, which enables improved outcomes for both patients and customers.

• In October 2022, Nym unveiled the extension of its medical coding engine availability to radiology departments nationwide in the US. This expansion brings Nym's autonomous medical coding technology to a third outpatient specialty area, expanding access to the solution for RCM, which is improving payment cycles for over 150 leading emergency department (ED) and urgent care facilities in the US.

Global Revenue Cycle Management Market Report Segment

By Structure

• In-house
• Outsourced

By Type

• Software
• Service

By Function

• Claims & Denial Management
• Medical Coding & Billing
• Clinical Documentation Improvement (CDI)
• Insurance

By End-User

• Hospitals
• Physician's Office
• Diagnostic Laboratories

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Revenue Cycle Management Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Advantedge Healthcare Solutions
• Athenahealth, Inc.
• Carecloud, Inc.
• Change Healthcare
• Cognizant Technology Solutions Corporation
• Conifer Health Solutions, LLC
• Constellation Kidney Group
• Epic Systems Corporation
• FinThrive
• GE Healthcare

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