All the data and statistics included in this Revenue Cycle Management Market report lead to an actionable ideas, improved decision-making and better mapping business strategies. This report provides appropriate solutions to the complex business challenges and initiates an effortless decision-making process. This research report helps the clients understand the various drivers and restraints impacting the industry during the forecast period. This Revenue Cycle Management Market research document predicts the size of the market with respect to the information on key retailer revenues, development of the industry by upstream and downstream, industry progress, key companies, key developments, along with market segments and application.
major competitors currently working in the global revenue cycle management market are All scripts Healthcare Solutions, Inc. (IN), athenahealth, Inc. (US), CareCloud Corporation (US), Cerner Corporation (US), Conifer Health Solutions LLC (US), eClinicalWorks (US), Epic Systems Corporation (US), Experian Information Solutions, Inc.(US), General Electric Company (US), GeBBS Healthcare Solutions (IN), McKesson Corporation (US), NXGN Management, LLC. (US), nThrive, Inc. (US), Quest Diagnostics Incorporated (US), SSI Group, LLC (US), Others.
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Global Revenue Cycle Management Market has accounted to about USD 29.5 billion in 2018, rapidly growing at a CAGR of 12.5% from 2019 to 2026, is expected to reach USD 75.69 billion by 2026. The new market report contains data for historic years 2015, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Global Revenue Cycle Management Market research report proves to be very significant in many ways to grow business. This market report examines the market with respect to general market conditions, market improvement, market scenarios, development, cost and profit of the specified market regions, position and comparative pricing between top players.
Revenue cycle management (RCM) is applied by healthcare organizations to scale and manage the process of healthcare billing and reimbursements. It is done by improving the process of claims management, accelerating explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and automating processes. The RCM solution manages the patient’s bills from entering the hospital to reimbursement of claims.
- Factors like a decrease in reimbursement in the healthcare industry, reduction of total healthcare costs, initiatives undertaken by governments for implementation of revenue cycle management solutions, and increasing expenditure by healthcare industry especially made on IT are the major drivers of the global revenue cycle management market.
- Key advantage over traditional revenue cycle management.
- Lack of training and skills in the staff.
- Lack of technical infrastructure support
Segmentation: Global Revenue Cycle Management Market
- By Product Type
- Integrated RCM
- Standalone RCM
- By Stage
- Front Office
- Mid Office
- Back Office
- By Function
- Claim & Denial
- Medical Billing Coding
- Payment remittance
- Electronic health record
- Clinical documentation improvement
- Insurance Verification
- Others (scheduling & appointment, referral management, and contract management)
- By End-User
- General Physicians
- Other end users (pharmacies, emergency medical centers etc.)
- By Deployment
- By Component
- By Geography
- North America
- South America
- Middle East & Africa
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Key Developments in the Market:
- In June, Quest Diagnostics, the world’s leading provider of diagnostic information services, unveiled the newest version of its Quanum Enterprise Content Management Solution. This solution will expand the company profile and portfolio.
- In October, eClinicalWorks, a market leader in ambulatory clinical systems, announced eClinical Works Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. This solution launch will expand the company growth rate and portfolio.
Competitive Analysis: Global Revenue Cycle Management Market
The global revenue cycle management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of revenue cycle management market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
- Current and future of global revenue cycle management outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
Table of Contents:
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports