Revenue Cycle Management Market 2020: Global Industry Size, Share, Future Challenges, Revenue, Demand, Industry Growth and Top Players Analysis to 2026
The global revenue cycle management (RCM) market is set to reach USD 216,990.6 million by 2026, registering a CAGR of 12.4% during the forecast period. Increasing inclination of patients to get outpatient care is one of the main driving factors for this market. Inpatient care, where people stay in a hospital overnight, is an expensive endeavor as it involves multiple costs and taxes that shoot up the hospital bill. Outpatient options are cheaper wherein the patient only needs to pay for consultation and medicines and gets the remaining care outside the hospital, such as in her home. In recent years, outpatient revenue has grown at a rapid pace and it has led to a sudden surge in the demand for RCM solutions. For example, data released by the American Hospital Association in 2019 shows that net outpatient revenue increased by 5.7% from 2016 to 2017, standing at $472 billion in 2017. This is indicative of the rising preference for outpatient care which has significantly added to healthcare revenue cycles and raised the demand for RCM tools.
Highlights of the Revenue Cycle Management Market Report Include:
- Microscopic study of the various factors driving and restraining the market
- Careful classification and research of the market segments
- Accurate computation of market figures
- Comprehensive analysis of the regional dynamics and competitive landscape
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/revenue-cycle-management-market-100275
Key Players Operating in The Revenue Cycle Management Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Conifer Health Solutions, LLC
- McKesson Corporation
- R1 RCM Inc.
- Epic Systems Corporation
- GeBBS Healthcare Solutions
- eClinicalWorks
- Cerner
- athenahealth, Inc.
- Allscripts Healthcare, LLC
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/revenue-cycle-management-market-100275
The report focuses on global major leading industry players of market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. This report focuses on Revenue Cycle Management Market Trend, volume and value at global level, regional level and company level. From a global perspective, this report represents overall Revenue Cycle Management Market Size by analysing historical data and future prospect.
With tables and figures helping analyse worldwide Revenue Cycle Management Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Advent of IT and Analytics in Healthcare Industry Boosts the Market
“Cloud-based solutions are in high demand across the world for seamless data sharing,” stated a lead analyst at Fortune Business Insights. “Several companies are increasingly adopting cloud-based platforms to offer advanced revenue cycle management services,” he added. Robust government initiatives, coupled with decrease in healthcare reimbursements, are likely to drive the RCM market in the coming years. The rising use of analytical tools and IT in the healthcare industry is expected to increase the revenue generated by the RCM market between 2018 and 2025.
Lack of Experts and High Deployment Cost of RCM Solutions May Limit Growth
Certain factors may negatively impact the growth of the RCM market. Dearth of well-trained professionals is the primary reason that may hamper the growth of the market in the coming years. In addition to this, high deployment costs associated with the RCM solutions are likely to restrict the growth of the market. Another challenge hindering the RCM market’s growth is denial identification. According to the Healthcare Information and Management Systems Society or HIMSS, around 31% of the healthcare providers are still using manual claims for denial identification.
Objective of Studies:
- To provide strategic profiling of key players in the market, comprehensively analysing their core competencies, and drawing a competitive landscape for the market.
- To provide insights about factors affecting the market growth. To analyse the Revenue Cycle Management Market based on various factors- price analysis, supply chain analysis, porter five force analysis etc.
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Revenue Cycle Management Market.
- To provide country level analysis of the market with respect to the current Revenue Cycle Management Market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
- To track and analyse competitive developments such as joint ventures, strategic alliances, new product developments, and research and developments in the global Revenue Cycle Management Market.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/revenue-cycle-management-market-100275
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Statistical overview of hospital admissions- For key countries,2018
- Technological advancements in revenue cycle management process
- New product launch
- Key start-ups with their funding overview
- Regulatory scenario - For key countries,2018
- Key Industry Developments - Mergers, Acquisitions, and Partnerships, 2018
- Global Revenue Cycle Management Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Structure
- In-house
- Outsource
- Market Analysis, Insights and Forecast – By Function
- Claims & Denial Management
- Medical Coding & Billing
- Clinical Documentation Improvement (CDI)
- Insurance
- Others
- Market Analysis, Insights and Forecast – By Type
- Software
- Services
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Revenue Cycle Management Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Structure
- In-house
- Outsource
- Market Analysis, Insights and Forecast – By Function
- Claims & Denial Management
- Medical Coding & Billing
- Clinical Documentation Improvement (CDI)
- Insurance
- Others
- Market Analysis, Insights and Forecast– By Type
- Software
- Services
- Market Analysis, Insights and Forecast– By Country
- S.
- Canada
Continued...
This Report Answers the Following Questions:
- What are the Revenue Cycle Management Market trends and growth drivers?
- How many segments does the market contain?
- What are the opportunities and challenges that the market may face?
- How are the key players keeping up with the changing consumer behavior?
- What are the latest industry developments?
Related Reports:
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email:[email protected]