Report Overview
In 2022, the global revenue cycle management market accounted for USD 269.9 billion and will reach USD 773.2 billion by 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 11.4%.
Challenges
- The RCM process is complex and time-consuming.
- There is a lack of standardization in RCM processes.
- The cost of RCM solutions can be high.
- There is a shortage of skilled RCM professionals.
- Healthcare providers are increasingly responsible for collecting patient payments.
Rising Demand
The demand for RCM solutions is rising due to the increasing complexity of the RCM process and the growing need for healthcare providers to improve their financial performance. Additionally, the increasing adoption of EHRs and other healthcare IT systems is creating new opportunities for RCM solutions.
