North America Revenue Cycle Management (RCM) Market, By Product (Integrated Solutions, Standalone Solutions), Function (Claims & Denial Management, Medical Coding & Billing, Patient Insurance Eligibility Verification, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Other), Stage (Front Office, Mid Office, Back Office), Deployment (Web-based, On-premise, Cloud-based), Component (Software, Services), End User (Hospitals, General Physicians, Laboratories, Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2027
Market Analysis and Insights : North America Revenue Cycle Management (RCM) Market
Revenue cycle management (RCM) 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 56.22 billion by 2027 growing at a CAGR of 12.13% in the above-mentioned forecast period. The growing regulatory mandate compliance for adoption of EHR/ EMR devices will help in driving the growth of the revenue cycle management (RCM) market.
Government initiative to boost the adoption of RCM solutions, loss of revenue due to billing errors and enhancement of process in healthcare organizations will likely to accelerate the growth of the revenue cycle management (RCM) market in the forecast period of 2020-2027. On the other hand, growing demand of cloud based RCM solutions and rising consolidation between vendor providing end to end solutions will further boost various opportunities that will lead to the growth of the revenue cycle management (RCM) market in the above mentioned forecast period.
High pricing and costly maintenance of RCM solutions will likely to hamper the growth of the revenue cycle management (RCM) market in the above mentioned forecast period.
This revenue cycle management (RCM) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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, geographical expansions, technological innovations in the market. To gain more info on revenue cycle management (RCM) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Revenue Cycle Management (RCM) Market Scope and Market Size
Revenue cycle managements (RCM) market is segmented on the basis of product, function, stage, deployment and end user. The growth amongst these segments will help you analyse meagre 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, the revenue cycle management (RCM) market is segmented into integrated solutions, standalone solutions.
- On the basis of function, the revenue cycle management (RCM) market is segmented into claims & denial management, medical coding & billing, patient insurance eligibility verification, payment remittance, electronic health record (EHR), clinical documentation improvement (CDI) and other.
- Based on stage, the revenue cycle management (RCM) market is segmented into front office, mid office and back office.
- Based on deployment, the revenue cycle management (RCM) market is segmented into web-based, on-premise and cloud-based.
- Revenue cycle management (RCM) market has also been segmented based on the end user into hospitals, general physicians, laboratories and others.
Revenue Cycle Management (RCM) Market Country Level Analysis
Revenue cycle management (RCM) market is analysed and market size insights and trends are provided by country, product, function, stage, deployment and end user as referenced above.
The countries covered in the revenue cycle management (RCM) market report are U.S., Canada and Mexico in North America.
North America dominates the revenue cycle management (RCM) market due to development of the IT framework for the healthcare industry in the forecast period of 2020 to 2027. U.S. represents a lucrative growth opportunities due to favourable regulations, presence of several large hospitals and health systems, growing geriatric population and the increasing need to curtail healthcare costs in the country.
The country section of the revenue cycle management (RCM) 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 North America 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 (RCM) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for revenue cycle management (RCM) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the revenue cycle management (RCM) market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Revenue Cycle Management (RCM) Market Share Analysis
Revenue cycle management (RCM) 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, North America 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 (RCM) market.
The major players covered in the revenue cycle management (RCM) market report are McKesson Corporation, Cerner Corporation., Quest Diagnostics Incorporated., athenahealth, Inc., Allscripts Healthcare, LLC, eClinicalWorks, CareCloud Corporation., The SSI Group, LLC, GENERAL ELECTRIC COMPANY, Epic Systems Corporation., Siemens Healthcare GmbH, Kareo, Inc., and among other domestic and North America players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.