As per this study the Global Revenue Cycle Management Market was valued USD XX MN (by revenue) in 2019 and is anticipated to reach USD XX MN by 2026 with a CAGR of XX%.
Revenue cycle management is a software used for financial processes and medical billing that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. RCM unites business and clinical sides of healthcare by coupling administrative data, such as the patient’s general information with the treatment a patient receives and their healthcare data.
The growing healthcare expenditure in emerging countries along with growing demand for cloud-based solutions is driving the market growth. Also, increasing technological advancement for workflow optimization is also fuelling market growth. In addition, the increasing adoption of IT in healthcare for generating more revenue and for ensuring efficiency and accuracy are further accelerating the market growth. On the other hand, the high cost associated with the deployment of RCM is expected to hamper market growth in forecast timeframe. Whereas, the increasing focus towards denial management integrated with analytics is expected to offer the opportunity to RCM market in upcoming years.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of revenue cycle management.
The broad revenue cycle management market has been sub-grouped into deployment, function and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Claims & Denial Management
- Medical Coding & Billing
- Electronic Health Record (EHR)
- Clinical Documentation Improvement (CDI)
- Other Functions
- Other End Users
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for revenue cycle management in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Revenue Cycle Management Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the revenue cycle management market include Allscripts Healthcare Solutions, Athenahealth, Cerner Corporation, Conifer Health Solutions, Constellation Software, Eclinicalworks, EPIC Systems, GE Healthcare, Gebbs Healthcare Solutions and Mckesson Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.