Home > Healthcare > Healthcare IT > Payer/Provider Solutions > Healthcare Revenue Cycle Management Market

Healthcare Revenue Cycle Management Market Size

Report ID: GMI1170
Published Date: Jan 2023
Report Format: PDF

Download Free Sample

Healthcare Revenue Cycle Management Market Size

Healthcare Revenue Cycle Management Market size was valued at more than USD 140 billion in 2022. Driven by cumulative healthcare spending, the industry is primed to grow at over 12.5% CAGR from 2023 to 2032.

To get key market trends

Download Free Sample

Continuous technical advancements in HRCM solutions are foreseen to promote market growth. New systems enable the automatic filing and evaluation of medical claims. Recent developments, including machine learning (ML) and artificial intelligence (AI), have boosted the usage of these technologies to improve efficiency and expedite the medical billing process. For instance, in January 2022, Waystar, a healthcare billing software company, announced that its platform was used to make payments easier by healthcare providers for around 40% of U.S. patients.

Healthcare Revenue Cycle Management Market Report Attributes
Report Attribute	Details
Base Year:	2022
Healthcare Revenue Cycle Management Market Size in 2022:	USD 141.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12.8%
2032 Value Projection:	USD 489.2 Billion
Historical Data for:	2018 to 2022
No. of Pages:	174
Tables, Charts & Figures:	253
Segments covered:	Product, Function, Deployment, End-use, and Region
Growth Drivers:	Increasing healthcare expenditure in developed as well as developing economies Growing demand for health insurance in North America High preference for big data analytics Technological advancements in HRCM solutions Progress in healthcare industry
Pitfalls & Challenges:	Frequent changes in healthcare regulatory compliance Lack of trained professionals

Learn more about the key segments shaping this market

Download Free Sample

In addition, burgeoning healthcare expenditure in developed and emerging economies is forecast to augment product adoption. Healthcare costs have increased in developed countries, such as the U.S. and Germany, due to the rising frequency of various chronic diseases and cost of treatment.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global HRCM Market size was valued at more than USD 140 billion in 2022 and is set to progress at over 12.5% CAGR from 2023 to 2032 owing to supportive healthcare expenditure in developed as well as emerging economies.

The physician office segment is speculated to progress at over 14% CAGR between 2023 and 2032 due to the widespread utilization of billing and coding HRCM software for managing patient data.

The cloud-based segment is set to reach more than USD 378.5 billion by the end of 2032 as a result of prominent innovation in cloud-based solutions by key players operating in the market.

Europe HRCM market valuation is poised to surpass USD 130.5 billion by 2032, owing to an increasing demand for smoother financial management across healthcare facilities in the region.