Global Revenue Cycle Management Market 2021 is expected to register a CAGR of 11.5%, during forecast period with Impact of Covid 19 Analysis

Revenue

Global “Revenue Cycle Management Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Revenue Cycle Management in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Revenue Cycle Management Market report categorizes the market based on manufacturers, regions, type, and application. Revenue Cycle Management Market reports offer a detailed assessment of the Revenue Cycle Management including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Revenue Cycle Management market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The global revenue cycle management market is expected to register a CAGR of 11.5% during the forecast period, 2018 to 2023. The profit margins for healthcare providers are shrinking as most of them fail in proper submission of claims for payment. There is a decrease in Medicare payments after implementing Affordable Healthcare Act. With projected growth of hospital care accounting on account of increased insured population most care providers are implementing RCM either in-house or outsourcing to service providers in countries like India.

Revenue Loss Due to Billing Errors

Revenue for healthcare providers depend on accurate processing of medical claims. For improving the financial outcome a healthcare organization need to maintain a quality revenue cycle and insurance billing. The revenue cycle management team comprise accounts receivable (A/R) management and denial management. With mounting pressure on hospitals to reduce costs, most care providers are losing revenue due to claims denial and their failure to submit or delay the denied claim.
This has given an opportunity for speciality firms that provide revenue cycle management service. Most hospitals are now dependent on third party providers for denials management service as they lack the expert knowledge, time to manage the reimbursement process.
With their expertise these providers are able to increase the cash flow of their clients which were otherwise neglected by the hospitals to resubmit the denied claims. It is estimated that over 90% of the claim denials can be prevented with support from providers who have systems and knowledge experts in this field. From the above it can be concluded that the revenue loss to hospitals due to billing errors that can be prevented by speciality revenue cycle management service providers is a major driver for RCM market.
The other factors such as government initiatives to boost the adoption of RCM solutions, and increasing adoption of EHR/EMR are driving the Revenue Cycle Management Market.

High Pricing and Maintenance of RCM Solutions

For small and medium size hospitals there is a little investment in developing their infrastructure that support or integrate with RCM systems. The adoption rate for these players for RCM solutions is low because of high price and maintenance costs.
The need for modernized tech-based RCM for healthcare providers have put pressure to invest or partner with firms such as Gebbs Healthcare Solutions, Athenahealth etc.
The other factors such as lack of proper IT infrastructure, and scarcity of skilled IT professionals are restraining the Revenue Cycle Management Market.

US Leads the Revenue Cycle Management Market in North America Region

The US Revenue Cycle Management Market (RCM) holds the largest market share in 2017 in North America region due to the changing healthcare regulations.
Most US healthcare providers are deploying revenue cycle management systems that reduces the time taken for receiving payment after providing a service. The RCM that automates many activities previously done manually are saving time. US healthcare firms are benefited as they get insights on claims denial and prompt to add required medical information for claims processing.
With a push toward value based care by government, and its initiatives to adopt RCM solutions by all healthcare providers, the market for revenue cycle management may see a significant growth.

Revenue Cycle Management Market

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The global Revenue Cycle Management market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Revenue Cycle Management Market Report covers the Top Key-players in 2021:-

  • Allscripts Healthcare Solutions
  • Athenahealth
  • Cerner Corporation
  • Conifer Health Solutions
  • Constellation Software
  • Eclinicalworks
  • EPIC Systems
  • GE Healthcare
  • Gebbs Healthcare Solutions
  • and Mckesson Corporation among others.

Highlighted points of Revenue Cycle Management Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Revenue Cycle Management Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Revenue Cycle Management? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Revenue Cycle Management Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Revenue Cycle Management Market? What Was Capacity, Production Value, Cost and PROFIT of Revenue Cycle Management Market?
  • What Is Current Market Status of Revenue Cycle Management Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Revenue Cycle Management Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Revenue Cycle Management Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Revenue Cycle Management Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Revenue Cycle Management Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Revenue Cycle Management Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Revenue Cycle Management Industry?

Key Developments in the Revenue Cycle Management Market:

  • May 2018: GeBBS Healthcare Solutions announced a Healthcare Information Management (HIM) and Revenue Cycle Management (RCM) partnership with Prospect Medical Holdings, Inc.

    Reasons to Purchase Revenue Cycle Management Market Report

  • Current and future Revenue Cycle Management Market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel)

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    Finally, the report Global Revenue Cycle Management Market 2021 describes the Revenue Cycle Management industry expansion game plan, the Revenue Cycle Management industry knowledge supply, appendix, analysis findings, and the conclusion.

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