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Healthcare Revenue Cycle Management Market By Product (Integrated, and Standalone), By Function (Coding & Billing, Eligibility Verification, Payment Remittance, Claims & Denial Management): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

Industry Insights

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the healthcare revenue cycle management industry. The report analyzes and declares the historical and current trends analysis of the healthcare revenue cycle management industry and subsequently recommends the projected trends anticipated to be observed in the healthcare revenue cycle management market during the upcoming years.

The healthcare revenue cycle management market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire healthcare revenue cycle management market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the healthcare revenue cycle management industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the healthcare revenue cycle management industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the healthcare revenue cycle management market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the healthcare revenue cycle management industry. The healthcare revenue cycle management market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the healthcare revenue cycle management sector. Key strategic developments in the healthcare revenue cycle management market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the healthcare revenue cycle management market are appropriately highlighted in the report.

Revenue cycle management can be defined as the management of all clinical and administrative functions that contribute directly or indirectly to revenue through patient care to maximize overall profit. In includes a number of procedures such as identification of patients, verification, processing of claims and administration of payments and medical transcription. Increased awareness of the diagnosis and treatment of various diseases would increase health costs in developed economies. In recent years, major hospitals, health service providers and health policy agencies are using technologically improved tools and services which can help them to increase their profit. The RCM process benefits healthcare organizations to increase their profits by processing claims. The adoption of revenue cycle management in the health care sector is driving the market growth. On the other hand, the high cost and skill gap may hinder the growth of the market. However, growing demand in health insurance, technological improvements in RCM solutions, increasing healthcare expenditure in emerging countries can produce attractive opportunities in the market.

The healthcare revenue cycle management market research report delivers an acute valuation and taxonomy of the healthcare revenue cycle management industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the healthcare revenue cycle management industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the healthcare revenue cycle management industry is provided for the leading economies of the world.

The healthcare revenue cycle management market is segmented based on product and function.  On the basis of product segmentation, the market is classified into integrated, and standalone. In terms of function segmentation, the market is bifurcated into coding & billing, eligibility verification, payment remittance, claims & denial management.

Some of the essential players operating in the healthcare revenue cycle management market, but not restricted to include Allscripts Healthcare Solutions Inc., Eclinicalworks, LLC, Epic Systems Corporation, Cerner Corporation, GE Healthcare, Experian PLC, Gebbs Healthcare Solutions, Quest Diagnostics Incorporated, Athenahealth Inc., Mckesson Corporation,   and others.

logoThe taxonomy of the healthcare revenue cycle management industry by its scope and segmentation is as follows:

logoGlobal healthcare revenue cycle management Market: By Application Segmentation Analysis

  • Integrated
  • Standalone

logoGlobal healthcare revenue cycle management Market: By Application Segmentation Analysis

  • coding & billing
  • eligibility verification
  • payment remittance
  • claims & denial management

logoGlobal healthcare revenue cycle management Market: Regional Segmentation Analysis (Customizable)

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Covid-19

Healthcare Revenue Cycle Management Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

logoKey Insights from Primary Research

  • According to the primary researcher operating in the global healthcare revenue cycle management market, the market was valued at USD 45 billion and is expected to be valued over USD 90 billion.
  • The healthcare revenue cycle management market is predicted to witness a significant growth of nearly 12% during 2020-2026 due to the adoption of revenue cycle management in the healthcare sector.
  • By product analysis, the integrated segment dominated the market, in 2019 and it is expected to grow over the forecast period owing to the preference for integrated software by many consumers.
  • By function analysis, the claims & denial management headed the market attributed to increasing claim instances.
  • By geography, Asia Pacific is expected to be the fastest-growing market during the years to come attributed to the adoption of revenue cycle management software.

logoKey Recommendations from Analysts

  • Our analysts recommend that the standalone segment is anticipated to boost the healthcare revenue cycle management market.
  • Owing to the adoption of advance technology in the healthcare revenue cycle, North America is expected to grow in the future years.
  • The European region is anticipated to grow over the forecast year attributed to increasing health insurance industries in this region.
  • The revenue cycle management help to prevent the loss of revenue due to billing error, due to this reason the coding and billing segment is projected to boost the market in the upcoming years.
  • Due to the increasing healthcare expenditure in emerging countries, growing demand for healthcare insurance, technological advancement in healthcare sector, the healthcare revenue cycle management market is projected to produce lucrative opportunities over the forecast period.

logoMarket Attractiveness By Product Analysis

logoHealthcare Revenue Cycle Management Market

Covid-19

Healthcare Revenue Cycle Management Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  •  Allscripts Healthcare Solutions Inc.
  •  Eclinicalworks
  •  LLC
  •  Epic Systems Corporation
  •  Cerner Corporation
  •  GE Healthcare
  •  Experian PLC
  •  Gebbs Healthcare Solutions
  •  Quest Diagnostics Incorporated
  •  Athenahealth Inc.
  •  Mckesson Corporation

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating Healthcare Revenue Cycle Management Market.
According to Facts and Factors research report, the global Healthcare Revenue Cycle Management Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new Healthcare Revenue Cycle Management Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for Healthcare Revenue Cycle Management Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of Healthcare Revenue Cycle Management Market in North America over coming decade.
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