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Revenue Cycle Management Market to be Worth $658.7 Billion by 2030: Grand View Research, Inc.

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SAN FRANCISCO, June 29, 2023 /PRNewswire/ — The global revenue cycle management market size is expected to reach USD 658.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.5% from 2023 to 2030. Growing digitalization of healthcare is driving organizations to adopt healthcare IT solutions such as revenue cycle management (RCM) systems. Unorganized data siloes generated from multiple healthcare functionalities and the increasing need to streamline workflows to enhance productivity and efficiency are driving the adoption of RCM systems and propelling market growth.

Key Industry Insights & Findings from the report:

  • In 2022, the services segment accounted for major portion of the market owing to growing number of providers outsourcing RCM services.
  • The integrated segment dominated the market in 2022 owing to the growing demand for a coordinated format to manage various financial activities through a single platform.
  • Based on delivery mode, the web-based segment held the maximum market share in 2022 owing to numerous benefits offered by web-based solutions over on-premises deployed systems.
  • The physician back-office segment dominated the market in 2022 owing to the growing number of physician offices in developed countries such as the U.S.
  • North America dominated the market in 2022 owing to the presence of well-established, large healthcare facilities and an increasing number of physician offices.

Read 130 page market research report, “Revenue Cycle Management Market Size, Share & Trends Analysis Report By Product (Software, Services), By Type, By Delivery Mode, By End-use, By Specialty, By Sourcing, By Function, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.

Revenue Cycle Management Market Growth & Trends

The existing healthcare systems are transitioning and readily adopting electronic processes for claims management, coding, and reimbursements. The growing digital literacy across the globe and increasing healthcare IT spending coupled with technological advancements in healthcare infrastructure are anticipated to boost the market growth. Rising demand for workflow optimization and favorable regulatory support from government bodies is shaping development and growth. Transforming healthcare systems and constant technological advancements are driving key players to focus on their innovative product development strategies to enhance the patient-provider relationship in healthcare facilities.

Market players are focusing on partnerships and technological collaborations with other players to expand their business footprint and grow their clientele. For instance, in January 2020, Professional Recovery Consultants (PRC) and Continuum Health Technologies entered into a partnership to improve healthcare claims denial management. This partnership includes the combination of PRC’s advanced claims services with Continuum Health Technologies’ proprietary software-Patient Estimator and Denial Challenger-which automate follow-ups on active receivables, reduce claim denials, and offer pricing transparency during the claim’s lifecycle. The partnership is expected to offer healthcare providers a cost-effective and automatic way of managing the collection process, along with providing pricing transparency to patients and the industry as a whole.

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Similarly, key players are launching innovative product solutions to expand their product portfolio and cater to the growing global demand. For instance, in February 2020, Waystar Health inaugurated Hubble, which is an AI/RPA platform used for automating revenue cycle processes. The Hubble platform increases revenue capture with the help of advanced machine learning and predictive analytics algorithms, which automatically recognize DRG anomalies, missing charges, and coding variances, based on a company’s past charging practice, generating millions of net revenues for its clients every year.

 Revenue Cycle Management Market Report Scope 

Report Attribute

Details

Market size value in 2023

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USD 307.6 billion

Revenue forecast in 2030

USD 658.7 billion

Growth rate

CAGR of 11.5% from 2023 to 2030

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Base year for estimation

2022

Historical data

2018 – 2021

Forecast period

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2023 – 2030

Revenue Cycle Management Market Segmentation

Grand View Research has segmented the global revenue cycle management market on the basis of product, type, delivery mode, end use, specialty, sourcing, function, and region:

Revenue Cycle Management Market – Product Outlook (Revenue, USD Million, 2018 – 2030)

  • Software
  • Services

Revenue Cycle Management Market – Type Outlook (Revenue, USD Million, 2018 – 2030)

  • Integrated
  • Standalone

Revenue Cycle Management Market – Delivery Mode Outlook (Revenue, USD Million, 2018 – 2030)

  • Web-based
  • Cloud-based
  • On-premise

Revenue Cycle Management Market – End-use Outlook (Revenue, USD Million, 2018 – 2030)

  • Physician Back Offices
  • Hospitals
  • Diagnostic Laboratories
  • Other

Revenue Cycle Management Market – Specialty Outlook (Revenue, USD Million, 2018 – 2030)

  • Oncology
  • Cardiology
  • Anesthesia
  • Radiology
  • Pathology
  • Pain Management
  • Emergency Service
  • Others

Revenue Cycle Management Market – Sourcing Outlook (Revenue, USD Million, 2018 – 2030)

  • In-house
  • External RCM Apps/ Software
  • Outsourced RCM Services

Revenue Cycle Management Market – Function Outlook (Revenue, USD Million, 2018 – 2030)

  • Product Development
  • Member Engagement
  • Network Management
  • Care Management
  • Claims Management
  • Risk & Compliances

Revenue Cycle Management Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Denmark
    • Sweden
    • Norway
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

List of Key Players of Revenue Cycle Management Market

  • The SSI Group, Inc.
  • Veradigm LLC (AllScripts Healthcare, LLC)
  • Experian Health
  • R1 RCM Inc
  • McKesson Corporation
  • athenahealth, Inc.
  • Epic Systems Corporation
  • NXGN Management, LLC
  • CareCloud Corporation
  • Quest Diagnostics, Inc.
  • Oracle (Cerner Corporation)

Check out other market research studies published by Grand View Research:

  • Healthcare Cloud Infrastructure Market – The global healthcare cloud infrastructure market size is expected to reach USD 193.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.7% from 2023 to 2030. The rising shift towards healthcare digitalization, rapidly increasing expenditures, heavily burdened health systems, growing data siloes, increasing network traffic, and the advent of remote working are all driving the demand for healthcare cloud infrastructure systems and solutions. To enhance facility management, businesses are continually implementing hybrid cloud models to incorporate various operations and functions in a multi-cloud environment. Moreover, these advanced computing solutions enable organizations to manage data safely and reliably while providing optimal care with improved operational and clinical results.
  • Operating Room Integration Market – The global operating room integration market size is anticipated to reach USD 4.38 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.4% from 2023 to 2030. Increasing redevelopment projects and the adoption of advanced healthcare IT solutions in hospitals is a major factor boosting the market growth. Operating Rooms (OR) are increasingly becoming complex and congested due to the requirement of devices during surgeries such as surgical lights, operating tables, and surgical displays. Integrated Operating Rooms (I-ORs) are becoming a solution for this complexity in ORs.
  • Regulatory Information Management System Market – The global regulatory information management system market size is expected to reach USD 4.12 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 11.0% from 2022 to 2030. As a result of the rapid adoption of the software by the pharmaceutical companies, competitors in the regulatory information management (RIM) system or software market are seeing enormous growth, and this growth is anticipated to continue.

Browse through Grand View Research’s  Healthcare IT Research Reports.

About Grand View Research

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Market Trend Reports
Follow Us: LinkedIn | Twitter

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Blockchain Press Releases

JANONE CONFIRMS NAME CHANGE TO ALT5 SIGMA CORPORATION AND NEW TICKER SYMBOL TO ALTS

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LAS VEGAS, July 13, 2024 /PRNewswire/ — JanOne Inc. (Nasdaq: JAN), a multidisciplinary organization with a focus on fintech and healthcare, confirmed today that, as of market open on Monday, July 15, 2024, the Company’s new name will be “ALT5 Sigma Corporation” and its Nasdaq common stock ticker symbol will change to “ALTS”. This will replace the Company’s current ticker symbol “JAN”. Further, the Company’s website address will change from “janone.com” to “alt5sigma.com.”

The Company’s change of name, ticker symbol, and website address aligns with the Company’s realignment to focus on its recently acquired, ALT5 Sigma fintech as its core engine for revenue growth.

This realignment and changes in corporate name and the ticker symbol were previously announced on July 10, 2024. No action by the Company’s stockholders is required with respect to the ticker symbol change. The Company’s CUSIP number and transfer agent will remain unchanged.

Marking the changes confirmed today, Tony Isaac, Company CEO, observed, “We are pleased to complete the changes to our name and ticker symbol as the initial steps in our previously announced diversification into fintech, while keeping our biotech’s trajectory on track, all for the benefit of our stockholders.”

About JanOne/ALT5 Sigma

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The Company is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. The Company is one of the constituents of the Russell Microcap Index, starting June 28, 2024.

Through its fintech activities, the Company provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm for the trading, clearing, settlement, payment, and custodianship of digital instruments. Through its fintech subsidiaries, the Company offers two main platforms to its customers: “ALT5 Pay” and “ALT5 Prime”. The subsidiaries processed over US$1.2 billion in cryptocurrency transactions in 2023.

ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay’s checkout widgets and APIs. Merchants have the option to convert to fiat currency (s) automatically or to receive their payment in digital assets.

ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named “ALT5 Pro” that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime’s FIX API, as well as through Broadridge Financial Solutions’ NYFIX gateway for approved customers.

Through its biotech activities, the Company is developing innovative, actionable solutions intended to help end the opioid crisis. The Company is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation’s history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

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Forward Looking Statements

This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the profitability and prospective growth of ALT5’s platforms and business, that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5’s services, and technology challenges for future growth or expansion. This press release also contains statements and links relating to risks that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such statements reflect the Company’s current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company’s periodic reports filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in the Company’s filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Media Contact Investor Relations
[email protected]
1-800-400-2247

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Blockchain Press Releases

Battle for Glory at Bybit Web3’s Ultimate Memecoin Arena: Compete to Win $50,000 in Prize Pools

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DUBAI, UAE, July 12, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of its blockchain clash competition: the Ultimate Memecoin Arena (UMA). This event will showcase a thrilling showdown between two heavyweight meme tokens, Ponke and Brett, representing Solana and Base — two blockchains battling to be the main venue for memecoin launches and trading.

Kicking off on Jul. 11, 2024, at 10AM UTC, and running through Jul. 25, 2024, participants will engage in an epic clash between Solana and Base by supporting their favorite coin from their chosen blockchain. This trading competition is not just for the individual, by siding with the top team, participants will grab the Ultimate Prize Pool for their team.

Prize Pools:

  1. PONKE Prize Pool: $12,500 worth of PONKE tokens
    1. Eligibility: Trade at least $300 worth of PONKE tokens to qualify for a share of this pool.
  2. BRETT Prize Pool: $12,500 worth of BRETT tokens
    1. Eligibility: Trade at least $300 worth of BRETT tokens to qualify for a share of this pool.
  3. Ultimate Prize Pool: $25,000 worth of PONKE & BRETT tokens
    1. The pool with the highest trading volume will win the entire Ultimate Prize Pool.
    2. Rewards will be distributed among participants who have traded at least $300 of the winning token.

How to Participate:

  1. Prepare your Bybit Cloud Wallet or any Seed Phrase Wallet.
  2. Transfer SOL to your wallet for the PONKE Prize Pool or WETH for the BRETT Prize Pool.
  3. Swap at least $300 worth of PONKE or BRETT tokens to be eligible for their respective prize pools.
  4. Engage in trading to contribute to the Ultimate Prize Pool.

The trading competition is the first to be held on Bybit Web3 DEX Pro, a revolutionary decentralized exchange with over 1 million tokens to trade modeled after Bybit’s institutional-grade trading interface. Bybit Web3 DEX Pro surpasses typical CEX offerings, equipping users with i-SMART data intelligence technology. This powerful suite provides traders with on-chain and social media data, allowing them to make informed and smarter decisions.

“This competition is about embracing the excitement and community spirit of the crypto world,” said MK Chin, Bybit Web3 evangelist. “We’re excited to see how participants strategize and trade their way to victory in this thrilling competition.”

Don’t miss your chance to participate in the Ultimate Memecoin Arena and compete for glory and substantial rewards. Join Bybit in the battle of the meme tokens and trade your way to victory!

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#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

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For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Bybit Web3 and Ignition Join Forces to Bridge the Gap Between Bitcoin and Ethereum

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DUBAI, UAE, July 12, 2024 /PRNewswire/ — Bybit, the world’s second-largest web3 platform by trading volume, breaks down barriers between Bitcoin and the Ethereum Virtual Machine (EVM) ecosystems with its partnership of Ignition. Supported by core contributors Mantle and Antalpha Prime, Ignition is paving the way for a low-friction and interoperable future. It extends Bitcoin’s functionality beyond its traditional role as a store of value and transforms it into a reliable asset for cross-chain integrations and diverse yield opportunities.

Bybit Web3 Wallet will support FBTC, an omnichain Bitcoin asset pegged 1:1 to BTC, introduced by Ignition. This strategic collaboration empowers users to unlock the full potential of Bitcoin within the thriving EVM ecosystem, reflecting Bybit Web3’s philosophy of openness, simplicity, and equality.

“We are thrilled to partner with Ignition, which aligns with Bybit’s mission to provide users with innovative and seamless DeFi solutions. By integrating Ignition and FBTC, we are not only enhancing liquidity and interoperability but also paving the way for a more inclusive and dynamic crypto ecosystem,” added MK Chin, Bybit Web3 Evangelist.

FBTC: Bridging the Divide between Bitcoin and non-Bitcoin Ecosystems in Web3

Introduced by Ignition, FBTC is an omnichain Bitcoin asset pegged 1:1 to BTC aimed at elevating Bitcoin’s accessibility and utility. As a secure, decentralized, and composable liquid Bitcoin asset with deep liquidity, $FBTC can be used at scale and easily integrated into various yield enhancement strategies like liquidity pooling, collateral, and staking.

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Under Ignition, $FBTC’s growth will be driven by a comprehensive roadmap and strong developer support, ensuring its long-term success and sustainable growth.

Bybit Web3: A Partnership for Enhanced DeFi and User Opportunities

Bybit is at the forefront of adopting the Ignition ecosystem, reinforcing Bybit’s commitment to pioneering innovative solutions for the crypto community. Bybit Web3 users will now have access to a multitude of products and opportunities within the burgeoning Ignition space. 

This integration unlocks a range of benefits for users:

  • Enhanced Liquidity: FBTC opens the door to increased liquidity, allowing users to trade and invest in Bitcoin with greater ease within the EVM ecosystem.
  • Diverse Yield Opportunities: Users can explore a variety of attractive yield-generating strategies with FBTC, maximizing the earning potential of their Bitcoin holdings.
  • Seamless Interoperability: FBTC bridges the gap between various blockchain networks, ensuring users can move their assets freely and efficiently.

Coming Soon: Swap and Staking on FBTC

Bybit Web3 users can look forward to using their Bybit Web3 Wallet to swap and stake on FBTC in the later half of July. For more information, please visit: https://www.bybit.com/en/web3/home

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#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 20 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 33 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

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For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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