Global Revenue Cycle Management Market, By Product Type (Integrated RCM, Standalone RCM), Function (Claim and Denial, Medical Coding and Billing, Patient Insurance Eligibility Verification, Payment Remittance, Electronic Health Record (Ehr), Clinical Documentation Improvement (Cdi), Other), Deployment (Web-based, On-premise, Cloud-based), Component (Software, Services), End User (Hospitals, General Physicians, Labs, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027
Revenue cycle management market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 85.52 billion by 2027 and will grow at a CAGR of 13.00% in the above-mentioned forecast period.
The growth of the revenue cycle management market is majorly driven by supportive growth through regulatory compliance over the forecast period of 2020 to 2027. Also some of the prominent features of revenue cycle management system consist of faster claims process, punctual denial management, and 99% claims processing resolution rate which is encouraging the overall revenue cycle management market growth.
Some of the vital factors such as the decrease in reimbursement in healthcare industry, reduction of total healthcare costs, rising administrative and operational costs of the healthcare organizations, cost-effectiveness arrived by replacing traditional paper-based systems, growing geriatric population, occurrence of various diseases, illnesses, and disorders along with the continuous process improvements, increased investments from private players are also fueling the market growth of revenue cycle management globally. However, the high pricing and costly maintenance and insufficiency of skilled IT professionals will hamper the growth of the revenue cycle management market. In addition the rising government reforms also play an active role in boosting the adoption of the revenue cycle management market in the above mentioned forecast period.
Additionally, the increasing demand for cloud-based RCM solutions and rapid increase in the healthcare expenditure will present ample growth opportunities for the revenue cycle management market to grow in the forecast period of 2020 to 2027. The risks coupled with data security and privacy and integration of RCM solutions within healthcare organizations are the major factor expected to challenge the revenue cycle management market.
This revenue cycle management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on revenue cycle management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Revenue Cycle Management Market Scope and Market Size
Revenue cycle management market is segmented on the basis of product type, function, deployment, component and end users. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product type, the revenue cycle management market is segmented into integrated RCM and standalone RCM.
- The function segment of the revenue cycle management market is segmented into Claim and denial, medical coding and billing, patient insurance eligibility verification, payment remittance, electronic health record (Ehr), clinical documentation improvement (Cdi) and other.
- Based on deployment, the revenue cycle management market is divided into web-based, on-premise and cloud-based.
- On the basis of component, the revenue cycle management market is segmented into software and services.
- The end user segment of the revenue cycle management market is segmented into hospitals, general physicians, labs and others.
Global Revenue Cycle Management Market Country Level Analysis
Revenue cycle management market is analyzed and market size insights and trends are provided by country, product type, function, deployment, component and end users as referenced above.
The countries covered in the revenue cycle management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the revenue cycle management market owing to the strong presence of well-developed healthcare infrastructure, rising adoption of revenue cycle management solutions along with their long-term benefits in this particular region.
Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2020 to 2027 owing to the rising patient population suffering from various chronic diseases, increasing government initiatives to fight these diseases and the rising usage of automated medical claims in the countries such as India, China, Japan and Singapore.
The country section of the revenue cycle management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Revenue cycle management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for revenue cycle management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the revenue cycle management market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Revenue Cycle Management Market Share Analysis
Revenue cycle management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to revenue cycle management market.
The major players covered in the revenue cycle management market report are Allscripts Healthcare, LLC, The athenahealth, Inc., CareCloud Corporation, Cerner Corporation, Conifer Health Solutions, LLC, eClinicalWorks, Epic Systems Corporation, Experian Information Solutions, Inc., General Electric Company, R1 RCM, Inc., GeBBS Healthcare Solutions, McKesson Corporation, NXGN Management, LLC., nThrive, Inc., Quest Diagnostics Incorporated and The SSI Group, LLC among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Revenue Cycle Management Market
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