Healthcare Revenue Cycle Management MarketSize and Trends

Integrated solutions is likely to be the primary growth segment in the healthcare revenue cycle management market owing to improved operational competences and smooth economic and clinical structure with better management of treatments, outcomes and most importantly, costs related to these treatments.

Healthcare Revenue Cycle Management Market Taxonomy

On the basis of deployment, the global healthcare RCM market is classified into:

On-Premise
Cloud-Based
Web-Based
Others

On the basis of component, the global healthcare RCM market is classified into:

Software
Services

On the basis of product type, the global healthcare RCM market is classified into:

Standalone
Integrated
Others

On the basis of end user, the global healthcare RCM market is classified into:

Hospitals
Laboratories
Physicians
Others

Among deployment types, the cloud based solutions holds the majority share in the healthcare revenue cycle management market. The primary factor for the dominance of this segment is high rate of adoption of electronic medium for maintaining health records, thereby ensuring well-organized data mining, superior accessibility of the data and precise evaluation of the data corresponding to health information. This in turn will fuel the growth of the overall healthcare revenue cycle management market.

Rising incidences of hospitalizations will drive the overall healthcare revenue cycle management market

According to the American Hospital Association, the total number of registered hospitals in the U.S. was 5,564 in 2015. Moreover, it states that in 2015, the total number of admissions in these hospitals was 35,061,292, i.e. around 35 million patients. Increasing number of hospitalizations, in turn fuels growth of the global healthcare revenue cycle management systems market. Maintaining well organized records of patients is the need of the hour. Additionally, the emerging economies, especially countries such as China and India are likely to show significant growth prospects over the course of the forecast period. Increasing spends on healthcare, availability and accessibility of better healthcare facilities, increasing incidence of diseases and the rising importance of studying historical patient profile across the healthcare industry will augment the overall growth of the market. Government initiates and strict regulatory framework will shape the future of the global healthcare revenue cycle management market.