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Revenue Cycle Management Market by Type (Standalone, Integrated), Component Type (Software, Services), Deployment (Cloud, On-premise), End-user (Hospitals, Physicians, Diagnostic & ambulatory care centers) - Global Opportunity Analysis and Industry Forecast, 2017-2023

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Pages: 150
Apr 2017 | 2397 Views
 
Author's : Pankaj Lanjudkar
Tables: 29
Charts: 51
 

Revenue Cycle Management Market Overview:

Global Revenue Cycle Management Market was valued at $35,419 million in 2016, and is projected to reach $85,008 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023. Revenue Cycle Management can be defined as the management of all administrative and clinical functions that directly or indirectly contribute to the revenues through patient service to optimize overall profits. Revenue cycle management undergoes various processes such as patient registration, eligibility, and verification for insurance, medical coding, claims processing, and payments & AR management. The process of RCM enables healthcare facilities to optimize revenues through claims processing. Primarily, there are four prominent elements of RCM that includes patients, healthcare provider, billing company, and insurance payers. The global revenue cycle management market was valued at $35,419 million in 2016, and is projected to reach $85,008 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023.

The growth of the RCM market is majorly driven by supportive growth through regulatory compliance, increasing healthcare spending, growing demand for cloud-based solutions, and increasing market for outsourced RCM solutions. In addition, growth in healthcare expenditure in emerging nations and technological advancements for workflow optimization fuel the demand for advanced healthcare systems, thereby driving the RCM market growth. However, factors such as high costs associated with RCM deployment and scarcity of trained professionals are expected to be the restraining factors for the RCM market growth during the forecast period.

The global revenue cycle management market is segmented based on type, component type, deployment mode, end user, and region. Based on type, the market is categorized into integrated and standalone RCM. Software and services are categorized into component types of revenue cycle management. The end user segment includes hospitals, physicians, and diagnostic & ambulatory care centers. The deployment mode segment is sub-segmented into cloud-based and on-premise deployment. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

Key market players that operate in the market are Cerner Corporation, Eclinicalworks, LLC, Epic Systems Corporation, Gebbs Healthcare Solutions, GE Healthcare, Experian PLC, Mckesson Corporation, Quest Diagnostics Incorporated, Athenahealth, Inc., and Allscripts Healthcare Solutions, Inc.

Key Benefits

  • This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global revenue cycle management market.
  • Porters Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the revenue cycle management market to determine the investment pockets of the market.
  • Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
  • The quantitative analysis of the revenue cycle management market growth from 2016 to 2023 is provided to elaborate the market potential.

Revenue Cycle Management Market Key Segments:

By Type

  • Standalone
  • Integrated

By Component Type

  • Software
  • Services

By Deployment

  • Cloud
  • On-premise

By End-user

  • Hospitals
  • Physicians
  • Diagnostic & ambulatory care centers

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Arica

Key Players Profiled in the Report

  • Cerner Corporation
  • Eclinicalworks, LLC
  • Epic Systems Corporation
  • Gebbs Healthcare Solutions
  • GE Healthcare
  • Experian PLC
  • Mckesson Corporation
  • Quest Diagnostics Incorporated
  • Athenahealth, Inc.
  • Allscripts Healthcare Solutions, Inc.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. KEY MARKET SEGMENTATION
1.5. RESEARCH METHODOLOGY

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate-to-low bargaining power of suppliers
3.3.2. Moderate-to-low bargaining power of buyers
3.3.3. Moderate-to-high threat of substitutes
3.3.4. High threat of new entrants
3.3.5. Moderate-to-high competitive rivalry

3.4. KEY PLAYER POSITIONING, 2016 (%)
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Supportive growth through regulatory compliance
3.5.1.2. Increasing healthcare spending
3.5.1.3. Growing demand for cloud-based solutions

3.5.2. Restraints

3.5.2.1. High costs associated with RCM deployment
3.5.2.2. Scarcity of trained professionals

3.5.3. Opportunity

3.5.3.1. Increasing market for outsourced RCM Solutions

Chapter: 4 REVENUE CYCLE MANAGEMENT MARKET BY TYPE

4.1. OVERVIEW
4.2. STANDALONE

4.2.1. Key Market Trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast ($Million)

4.3. INTEGRATED

4.3.1. Key Market Trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast ($Million)

Chapter: 5 REVENUE CYCLE MANAGEMENT MARKET BY COPMPONENT TYPE

5.1. OVERVIEW
5.2. SOFTWARE

5.2.1. Key Market Trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast ($Million)

5.3. SERVICES

5.3.1. Key Market Trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast ($Million)

Chapter: 6 REVENUE CYCLE MANAGEMENT MARKET BY DEPLOYMENT

6.1. OVERVIEW
6.2. CLOUD

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast ($Million)

6.3. ON-PREMISE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast ($Million)

Chapter: 7 REVENUE CYCLE MANAGEMENT MARKET BY END USER

7.1. OVERVIEW
7.2. HOSPITALS

7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast ($Million)

7.3. PHYSICIANS

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast ($Million)

7.4. DIAGNOSTIC & AMBULATORY CARE CENTERS

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast ($Million)

Chapter: 8 REVENUE CYCLE MANAGEMENT MARKET BY REGION

8.1. OVERVIEW
8.2. NORTH AMERICA

8.2.1. Key market trends
8.2.2. Key growth factors and opportunities
8.2.3. Market size and forecast ($Million)

8.2.3.1. U.S.
8.2.3.2. Canada
8.2.3.3. Mexico

8.3. EUROPE

8.3.1. Key market trends
8.3.2. Key growth factors and opportunities
8.3.3. Market size and forecast ($Million)

8.3.3.1. UK
8.3.3.2. Germany
8.3.3.3. France
8.3.3.4. Rest of Europe

8.4. ASIA-PACIFIC

8.4.1. Key market trends
8.4.2. Key growth factors and opportunities
8.4.3. Market size and forecast ($Million)

8.4.3.1. China
8.4.3.2. India
8.4.3.3. Japan
8.4.3.4. South Korea
8.4.3.5. Rest of Asia-Pacific

8.5. LATIN AMERICA, THE MIDDLE EAST, AND AFRICA (LAMEA)

8.5.1. Key market trends
8.5.2. Key growth factors and opportunities
8.5.3. Market size and forecast ($Million)

8.5.3.1. Latin America
8.5.3.2. Middle East
8.5.3.3. Africa

Chapter: 9 COMPANY PROFILES

9.1. CERNER CORPORATION

9.1.1. Company Overview
9.1.2. Financial performance
9.1.3. Key strategies & developments

9.2. ECLINICALWORKS, LLC

9.2.1. Company Overview
9.2.2. Financial performance
9.2.3. Key strategies & developments

9.3. EPIC SYSTEMS CORPORATION

9.3.1. Company Overview
9.3.2. Financial performance
9.3.3. Key strategies & developments

9.4. GEBBS HEALTHCARE SOLUTIONS, INC.

9.4.1. Company Overview
9.4.2. Financial performance
9.4.3. Key strategies & developments

9.5. GE HEALTHCARE

9.5.1. Company Overview
9.5.2. Financial performance
9.5.3. Key strategies & developments

9.6. EXPERIAN PLC

9.6.1. Company Overview
9.6.2. Financial performance
9.6.3. Key strategies & developments

9.7. MCKESSON CORPORATION

9.7.1. Company Overview
9.7.2. Financial performance
9.7.3. Key strategies & developments

9.8. QUEST DIAGNOSTICS INCORPORATED

9.8.1. Company Overview
9.8.2. Financial performance
9.8.3. Key strategies & developments

9.9. ATHENAHEALTH, INC.

9.9.1. Company Overview
9.9.2. Financial performance
9.9.3. Key strategies & developments

9.10. ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.

9.10.1. Company Overview
9.10.2. Financial performance
9.10.3. Key strategies & developments

LIST OF TABLES

TABLE 1. REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 2. GLOBAL REVENUE CYCLE MANAGEMENTS MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 3. STANDALONE REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 4. INTEGRATED REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 5. GLOBAL REVENUE CYCLE MANAGEMENTS MARKET REVENUE, BY COMPONENT TYPE, 2016-2023 ($MILLION)
TABLE 6. SOFTWARE MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 7. SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 8. GLOBAL REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY DEPLOYMENT, 2016-2023 ($MILLION)
TABLE 9. CLOUD BASED REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 10. ON-PREMISE REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 11. GLOBAL REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY END USER, 2016-2023 ($MILLION)
TABLE 12. REVENUE CYCLE MANAGEMENT MARKET REVENUE FOR HOSPITAL, BY REGION, 2016-2023 ($MILLION)
TABLE 13. REVENUE CYCLE MANAGEMENT MARKET REVENUE FOR PHYSICIAN, BY REGION, 2016-2023 ($MILLION)
TABLE 14. REVENUE CYCLE MANAGEMENT MARKET REVENUE FOR DIAGNOSTIC AND AMBULATORY CARE CENTERS, BY REGION, 2016-2023 ($MILLION)
TABLE 15. GLOBAL REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 16. NORTH AMERICAN REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 17. EUROPE REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. ASIA-PACIFIC REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 19. LAMEA REVENUE CYCLE MANAGEMENT MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 20. COMPANY SNAPSHOT: CERNER CORPORATION
TABLE 21. COMPANY SNAPSHOT: ECLINICALWORKS, LLC
TABLE 22. COMPANY SNAPSHOT: EPIC SYSTEMS CORPORATION
TABLE 23. COMPANY SNAPSHOT: GEBBS HEALTHCARE SOLUTIONS, INC.
TABLE 24. COMPANY SNAPSHOT: GE HEALTHCARE
TABLE 25. COMPANY SNAPSHOT: EXPERIAN PLC
TABLE 26. COMPANY SNAPSHOT: MCKESSON CORPORATION
TABLE 27. COMPANY SNAPSHOT: QUEST DIAGNOSTICS INCORPORATED
TABLE 28. COMPANY SNAPSHOT: ATHENAHEALTH, INC.
TABLE 29. COMPANY SNAPSHOT: ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.


LIST OF FIGURES

FIGURE 1. KEY MARKET SEGMENTATION
FIGURE 2. OVERVIEW OF THE OPPORTUNITIES IN THE GLOBAL REVENUE CYCLE MANAGEMENT INDUSTRY
FIGURE 3. TOP IMPACTING FACTORS
FIGURE 4. TOP INVESTMENT POCKETS IN THE GLOBAL REVENUE CYCLE MANAGEMENT MARKET
FIGURE 5. TOP WINNING STRATEGIES
FIGURE 6. TOP WINNING STRATEGY
FIGURE 7. BARGAINING POWER OF SUPPLIERS
FIGURE 8. BARGAINING POWER OF BUYERS
FIGURE 9. THREAT OF SUBSTITUTES
FIGURE 10. THREAT OF NEW ENTRANTS
FIGURE 11. COMPETITIVE RIVALRY
FIGURE 12. KEY PLAYER POSITIONING OF GLOBAL REVENUE CYCLE MANAGEMENT MARKET, 2016 (%)
FIGURE 13. MARKET DYNAMICS
FIGURE 14. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY TYPE
FIGURE 15. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY TYPE, 2016-2023
FIGURE 16. GLOBAL REVENUE CYCLE MANAGEMENTS MARKET, BY COMPONENT TYPE
FIGURE 17. GLOBAL REVENUE CYCLE MANAGEMENTS MARKET, BY COMPONENT TYPE, 2016-2023
FIGURE 18. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY DEPLOYMENT
FIGURE 19. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY DEPLOYMENT, 2016-2023
FIGURE 20. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY END USER
FIGURE 21. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY END USER, 2016-2023
FIGURE 22. GLOBAL REVENUE CYCLE MANAGEMENT MARKET, BY REGION
FIGURE 23. NORTH AMERICAN REVENUE CYCLE MANAGEMENT MARKET
FIGURE 24. U.S. REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 25. CANADA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 26. MEXICO REVENUE CYCLE MANAGEMENT MARKET, 2016-2023($MILLION)
FIGURE 27. EUROPE REVENUE CYCLE MANAGEMENT MARKET
FIGURE 28. UK REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 29. GERMANY REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 30. FRANCE REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 31. REST OF EUROPE REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 32. ASIA-PACIFIC REVENUE CYCLE MANAGEMENT MARKET
FIGURE 33. CHINA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 34. INDIA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 35. JAPAN REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 36. SOUTH KOREA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 37. REST OF ASIA-PACIFIC REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 38. LAMEA REVENUE CYCLE MANAGEMENT MARKET
FIGURE 39. LATIN AMERICA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 40. MIDDLE EAST REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 41. AFRICA REVENUE CYCLE MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 42. FINANCIAL PERFORMANCE: CERNER CORPORATION
FIGURE 43. FINANCIAL PERFORMANCE: ECLINICALWORKS, LLC
FIGURE 44. FINANCIAL PERFORMANCE: EPIC SYSTEMS CORPORATION
FIGURE 45. FINANCIAL PERFORMANCE: GEBBS HEALTHCARE SOLUTIONS, INC.
FIGURE 46. FINANCIAL PERFORMANCE: GE HEALTHCARE
FIGURE 47. FINANCIAL PERFORMANCE: EXPERIAN PLC
FIGURE 48. FINANCIAL PERFORMANCE: MCKESSON CORPORATION
FIGURE 49. FINANCIAL PERFORMANCE: QUEST DIAGNOSTICS INCORPORATED
FIGURE 50. FINANCIAL PERFORMANCE: ATHENAHEALTH, INC.
FIGURE 51. FINANCIAL PERFORMANCE: ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.

 

The global revenue cycle management market is estimated to witness significant growth in Asia-Pacific and LAMEA, on account of high investment in healthcare expenditure and rapid development in healthcare industry, owing to various healthcare reforms and rise in demand & awareness about timely healthcare. The revenue cycle management market share is projected to grow at a CAGR of 13.7% from 2017 to 2023, owing to increase in demand for application-specific solutions in the developed and the developing regions.

There is an increase in the adoption of revenue cycle management (RCM) solutions among hospitals, physicians, and diagnostic & ambulatory care centers. Rise in demand for application-specific RCM solutions and increase in market for outsourced RCM solutions contribute to the RCM market growth. However, high costs associated with RCM deployment and lack of trained professionals limit the RCM market growth.

Key players in the RCM market are involved in the introduction of new features and capabilities to enhance their existing product portfolio. This is anticipated to increase the product penetration and enable key providers to establish themselves in the emerging markets. In this regard, GeBBS Healthcare Solutions, Inc., an outsourced RCM service provider, opened a global delivery center in Aurangabad, India in 2017 to provide comprehensive RCM services.

 

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