The Infinium Global Research analyzes the Revenue Cycle Management Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global revenue cycle management market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of revenue cycle management. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the revenue cycle management market during the period. The global revenue cycle management market is projected to grow at a CAGR of 11.7% over the forecast period of 2018-2024.
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Revenue cycle management is a specialized branch of management that focuses on the management of the all administrative and clinical functions that directly or indirectly contribute to the revenues through patient service to optimize overall profits of the firm. Revenue cycle management undergoes various processes such as patient registration, eligibility, verification of insurance, medical coding, claims processing, and payments & AR management.
Growth of the RCM Market is Majorly Driven by Growing Support from Regulatory Compliance, Growing Demand for Cloud-Based Solutions, and Increasing Market for Outsourced RCM Solutions
The growth of the RCM market is majorly driven by growing support from regulatory compliance, growing demand for cloud-based solutions, and increasing market for outsourced RCM solutions. In addition, growth in healthcare expenditure in emerging nations and technological advancements for workflow optimization to fuel the demand for advanced healthcare systems, thereby driving the RCM market growth. Additionally, benefits offered by RCM, such as increase in revenue generation, better efficiency in healthcare practices, easier compliance with industry norms and regulations, and greater accuracy and easier access to healthcare IT systems are driving the growth of this market globally.
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North America is the Dominant Player in this Market Globally
On the basis of region, North America is the dominant player in this market globally, owing to presence of several RCM service providers companies, favorable regulatory compliance and support from insurance companies are helping to grow this market in this region. Asia Pacific region is growing at a highest CAGR due to decreasing cash reimbursements in the healthcare industry, improving regulatory mandates for the adoption of electronic health and medical records, government initiatives to boost the adoption of RCM solutions, and process improvements in healthcare organizations.
Revenue Cycle Management Market: Segmentation
The report on global revenue cycle management market covers segments such as, product, deployment, function and end-use. On the basis of product, the global revenue cycle management market is categorized into integrated solutions and standalone solutions. On the basis of deployment, the global revenue cycle management market is categorized into web-based, on-premise and cloud-based. On the basis of function, the global revenue cycle management market is categorized into claims & denial management, medical coding & billing, patient insurance eligibility verification, payment remittance, electronic health record (EHR), clinical documentation improvement (CDI) and other functions. On the basis of end-use the global revenue cycle management market is categorized into physician clinics, hospitals, laboratories and others.
Revenue Cycle Management Market: Competitive Landscape
The report provides profiles of the companies in the global revenue cycle management market such as, Gebbs Healthcare Solutions, EPIC Systems, Conifer Health Solutions, Eclinicalworks, GE Healthcare, Athenahealth, Allscripts Healthcare Solutions, Quest Diagnostics, Mckesson and Cerner.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the revenue cycle management.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.