Global Revenue Cycle Management Market to Surge at a CAGR of 12.4% till 2026

1. Title : Global Revenue Cycle Management Market to Surge at a CAGR of 12.4% till 2026 Global Revenue Cycle Management Market to Reach USD 216,990.6 Million by 2026 Description: Global Revenue Cycle Management Market to Gather Momentum; eClinical Launches Cloud Platform for Revenue Management: Fortune Business Insights Content : The global revenue cycle management (RCM) market is set to reach USD 216,990.6 million by 2026, registering a CAGR of 12.4% during the forecast period. Increasing inclination of patients to get outpatient care is one of the main driving factors for this market. Inpatient care, where people stay in a hospital overnight, is an expensive endeavor as it involves multiple costs and taxes that shoot up the hospital bill. Outpatient options are cheaper wherein the patient only needs to pay for consultation and medicines and gets the remaining care outside the hospital, such as in her home. In recent years, outpatient revenue has grown at a rapid pace and it has led to a sudden surge in the demand for RCM solutions. For example, data released by the American Hospital Association in 2019 shows that net outpatient revenue increased by 5.7% from 2016 to 2017, standing at $472 billion in 2017. This is indicative of the rising preference for outpatient care which has significantly added to healthcare revenue cycles and raised the demand for RCM tools. An Overview of the Impact of COVID-19 on this Market: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future. Click here to get the short-term and long-term impact of COVID-19 on this [Market]. For More Information : https://www.fortunebusinessinsights.com/industry- reports/revenue-cycle-management-market-100275 According to the Fortune Business Insights report, titled “Revenue Cycle Management Market Size, Share and Industry Analysis By Structure (In-house Outsource) By Function (Claims & Denial Management, Medical Coding & Billing, Clinical Documentation Improvement (CDI), Insurance, Others) By Type (Software, Services) and Regional Forecast, 2019 –2026”, the value of this market stood at USD 86,811.4 million in 2018. The report

2. also provides a detailed evaluation of the factors, trends, and regional and competitive dynamics that will characterize the market development during the forecast period. Revenue cycle management (RCM) refers to a process where billing software in healthcare facilities is used to track a patient’s medical activity from the point of her registration in the facility to the point of her final bill. Thus, RCMs link a hospital’s business activities with its medical services, streamlining its financial administration in the process. Constant Rise in Healthcare Costs to Propel Market Demand Population growth, increasing number of aging people, and the growing prevalence of a multitude of diseases across the globe have led to a sustained rise in healthcare costs. In the US, for example, healthcare spending has risen by approximately a trillion dollars between 1996 and 2015, a study published in the Journal of American Medical Association reveals. The study also projects that by 2027, this number is likely to reach 6 trillion, or $17,000 per person. At the global level, a Deloitte report points out that between 2017 and 2022, healthcare spending will increase by 5.4% annually, reaching USD 10.059 trillion. This means that the healthcare industry is poised for substantial revenue generation period, which would escalate the demand for revenue cycle management software and accelerate the RCM market revenue till 2026. Asia-Pacific to Showcase an Impressive CAGR; North America to Dominate Increasing adoption of RCM software solutions and a widening patient population, mainly in India and China, are expected to boost the marketin Asia-Pacific. However, North America is anticipated to dominate the global revenuecycle managementmarket share owing to a well- entrenched healthcare insurance infrastructure and a strong presence of important market players. Europe is expected to grow at a smooth pace, primarily on account of the rising proclivity for outsourcing. More Trending Topics from Fortune Business Insights: Immune Thrombocytopenia Market Size, Share | ITP Report 2026 Orthopedic Implants Market Size, Growth, Trends | Analysis Report 2026