Revenue cycle management (RCM) is referred to the financial process which utilizes the medical billing software used by the healthcare facilities in order to track patient care episodes right from the registration and appointment scheduling to the final payment of a balance. The market growth is driven by the growing support from the regulatory compliance, increase in the healthcare spending and increasing market demand for the outsourced revenue cycle management solutions. Advantages following the implementation of revenue cycle management which include the increase in the revenue generation, improved efficiency of healthcare practices, easy compliance with the industry norms and regulations and easy access to the healthcare IT systems are also driving the growth of the global revenue cycle management (RCM) market in the forecast period. Also, the growing demand for the cloud-based solutions will drive the market growth in the coming years and beyond.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the revenue cycle management value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the revenue cycle management market.
Major industry players profiled as part of the report are GeBBS Healthcare Solutions, Epic Systems Corporation, Conifer Health Solutions, LLC, eClinicalWorks, LLC, GENERAL ELECTRIC COMPANY among others.
The revenue cycle management market has been analyzed through following segments:
Medical coding and billing
Claims and denial management
Electronic health record
Middle East and Africa
Key insights offered
What will be the revenue cycle management market size from 2017 to 2023?
How are the major drivers and restraints affecting the revenue cycle management market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behaviour
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.