Global Healthcare Revenue Cycle Management (RCM) Market Analysis and Forecast

Healthcare Revenue Cycle Management (RCM) Market report is an expert analysis report which gives detail information about industry players, segmentation and regional data in-depth.

Healthcare revenue cycle management (RCM) a software managing claims process, payment and revenue generation is increasingly enabling healthcare providers to optimize (increase) their revenue through proper claim management. In a nutshell, healthcare revenue cycle management is a bilateral process between patients, healthcare providers, billing company and insurance providers.

Healthcare Sector has witnessed many technological advancements over the last few years. Increasing population has fuelled the demand for the highest quality, coordinated care. With the growing administrative & operational expenses of the healthcare organizations, management needed cost-effective alternatives in order to keep the show running. Revenue cycle management offers viable solutions by replacing the traditional paper-based systems to optimize cost. This is resultantly driving the market growth globally. RCM solution further allows increased revenue generation, access to healthcare IT systems increasing accuracy & efficiency. This is the key factor that escalates the RCM market furthering it pervasively.

The huge volume of patients in hospitals has led to long waiting times creating a conundrum for hospital chains. Healthcare revenue cycle management (RCM) is a software designed to overcome this problem and offer quality care to patients. The software can expedite the billing process of patients and save expenses in the healthcare sector.

The healthcare RCM market size can reach USD 175,163.5 million by 2027 owing to the inclination towards an integrated healthcare system to alleviate the burden of patient load at hospitals. The rise in number of hospital chains and healthcare services, adoption of RCM, and favorable federal measures can drive the market growth from 2017 to 2027 (forecast period).

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Key Players

Leaders in the global healthcare RCM market include McKesson Corporation (US), Cerner Corporation (US), Epic Systems Corporation (US), Allscripts (US), Quest Diagnostic (US), General Electric Company (US), AdvantEdge Healthcare Solutions (US), CareCloud (US), Siemens Healthcare (Germany), 3M (US), and Acelerartech (US).

Segments

MRFR has segmented its analysis into five key dynamics for the convenience of understanding;

By Deployments   : Comprises - on Cloud, On-Premises and Web Based.

By Components    : Software and Service, others.

By Product Types  : Standalone and Integrated among others

By End-Users        : Hospitals, and Ambulatory Services among others.

By Regions           : Europe, North America, APAC and Rest-of-the-World.

Regional Analysis

North America market dominates the global RCM market with a significant market share. Factors that drive regional growth include; favorable government policies, the fastest adaptation of RCM and enhanced incentives.  Countries such as Canada and the US have successfully implemented healthcare IT in their healthcare system, which resultantly would boost the growth of the regional market over the forecast period.

Moreover, the presence of well-developed healthcare infrastructures & IT coupled with favorable government initiatives in executing RCM, and regulatory framework along with the technological advancements would further propel the market growth in the region.

The RCM market in the European region is the second largest market, globally. A well-developed healthcare sector predominantly drives the market growth.   Certainly, resurging economy in the region is playing a vital role in the growth of the RCM market.

Furthermore, increased digitization along with the increasing focus on data integration, data quality, management, and data governance provide impetus to the would drive the growth of the RCM market in the European region. 

The Asia Pacific region is rapidly emerging as a promising market for revenue cycle management.  Rapid technological advancements drive the market growth in the region, increasing the adoption of RCM in healthcare facilities.

APAC countries such as China, Japan, and India backed by the wide adoption of these management products and services account for the major contributors of the market growth.

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Industry/Innovation/Related News:

February 26, 2018 - R1 RCM Inc.  (US) a leading global provider of RCM services and Ascension, a faith-based healthcare organization jointly announced the extension of their partnership for the next ten long years. As per this agreement, R1 will be the primary RCM partner for AMG sites in 22 states & the Columbia District. While on the revenue grounds, the agreement is expected to generate 2.5 billion USD against the net patient revenue under R1 management, including the 500 Mn. USD from the current Wisconsin Ascension pilot.

Major Table of Content

1. Report Prologue    

2. Market Introduction    

      2.1 Scope Of Study 17

      2.2 Research Objective 17

      2.3 Assumptions & Limitations 17

      2.3.1 Assumptions 17

      2.3.2 Limitations 17

      2.4 Market Structure 18

3.    Research End Userology

      3.1 Primary Research 21

      3.2 Secondary Research 21

      3.3 Market Size Estimation 21

      3.3.1 Market Share Analysis 22

     3.4 Market Pricing Approach 23
          TOC Continued….!

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