Report ID: SQMIG35G2131
Report ID:
SQMIG35G2131 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
203 |
Figures:
80
Global Revenue Cycle Management Market size was valued at USD 275.00 Billion in 2022 and is poised to grow from USD 305.53 Billion in 2023 to USD 709.18 Billion by 2031, at a CAGR of 11.10% over the forecast period (2024–2031).
The revenue cycle management market is witnessing notable growth owing to increasing healthcare expenditure and technological advancements. Increasing healthcare costs and the intricacy of billing processes are fueling the demand for effective revenue cycle management. Several healthcare enterprises are actively engaged in investments in revenue cycle management to manage financial performance and maximize revenue better. Moreover, advancements like AI, EHRs, and ML are improving accuracy of RCM, thereby driving the market growth. Nonetheless, the market is negatively impacted by significantly high implementation and maintenance costs and complex regulatory landscape. The cost of implementing RCM, comprising hardware, software purchase, and training could be high, hindering its adoption. Yet, the market is facing a few opportunities like increased adoption of advanced technologies, including robotic process automation and ML and AI.
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Report ID: SQMIG35G2131