The global revenue cycle management solution was estimated to be $45.5 billion in the year 2016. It is further estimated to arrive at $90.78 billion by the year 2022. The global revenue management solutions market is estimated to grow with the CAGR of 12.2% during the period 2016-2022. The major factors that are driving the growth of the global revenue cycle management solution market are the increasing government support and initiatives for revenue cycle management solution, process enhancement in healthcare organizations, increasing promotion by regulatory compliance and increasing demand of healthcare insurance etc. However, Data security concern, integration of revenue cycle management solution within healthcare organization, high cost of deployment and lack of skilled professionals are estimated to hamper the growth of the market. Except these petty challenges, revenue cycle management solution market is yet to explore its full potential. Vendor consolidation to provide end to end solution, Potential market for IT vendors and increasing demand of cloud based services, are the factors that are developing enormous expansion opportunities for revenue cycle management solution market.
The revenue cycle management solutions market is segmented on the basis of the product, deployments, components, end-users and geography. On the basis of the product the market is further bifurcated on the basis of the integrated products and standalone products. Integrated product is estimated to held major share in the global revenue management solutions market. Increasing trend of value based payments systems in healthcare industry is backing the growth of integrated products market. On the basis of the deployments the market is further segmented into web based deployment, cloud-based deployment and on-premise deployment. Web based deployment accounts for major share in the global revenue cycle management solution market. Rising demand for mobile support systems is driving the growth of web based deployment market. On the basis of the components, the global revenue management solutions market is divided into services and software. Services segment is estimated to hold major in the global market due to increasing demand of consulting, maintenance and training services in the healthcare industry. On the basis of the end-user the market is bifurcated into hospitals, physicians, laboratories and other. Physicians are estimated to held major share in the global market. On the basis of the geography the market is bifurcated into North America, Europe, Asia Pacific and Rest of the World. North America is estimated to be the leading region in the global revenue cycle management solutions market. And Asia Pacific is estimated to be the fastest growing region in the global revenue cycle management solutions market.
Key players of revenue cycle management solutions market across the globe are Allscripts Healthcare Solutions INC, Athenahealth INC, Carecloud Corporation, Cerner Corporation, E-Clinical Works LLC, Epic Systems, GE Healthcare, Mckesson Corporation, Quest Diagnostics, Siemens Healthcare, The SSI Groups INC, Conifer Health Solutions LLC, Gebbs Healthcare Solutions, Experian PLC, Kareo INC etc.