Market
Scenario
The
rising costs of surgeries and overall healthcare has induced the need for
hospitals to lean towards technology to reduce the burden. Healthcare revenue
cycle management (RCM) is a system in the healthcare cycle which relies on
electronic health records (EHRs) and automation to expedite outpatient billing
and reduce wait times. The global healthcare revenue cycle management market is
touted to exhibit a healthy 12.2% CAGR during the assessment period
(2017-2027), as per a new market report by Market Research Future (MRFR).
The
growing numbers of hospitals and clinics, rising adoption rate of RCM software,
recovery audits, and preference for integrated healthcare systems are factors
expected to drive market demand during the forecast period.
The
report covers the latest trends impacting the market to provide the most
accurate forecasts and predictions. By correlating the historical data with
upcoming market dynamics, our analysts can make highly astute projections.
MRFR’s report includes a thorough analysis of the global healthcare revenue
cycle management market segmented according to type, application, end-user, and
region. Growth opportunities are highlighted coupled with the market share of
companies as well as their valuation in the market. It analyzes new revenue
sources for players and outlines the various strategies implemented by players.
Segment
Overview
By type,
the healthcare revenue cycle management market is segmented into integrated and
standalone software. Key components discussed include software and services. By
deployment, the market is segmented into on-premise and cloud/web-based. By
end-user, the market is segmented into hospitals and ambulatory services.
Competitive
Landscape
Some of
the key players in the healthcare revenue cycle management market include
General Electric Company (U.S.), Epic Systems (U.S.), Cerner Corporation
(U.S.), McKesson Corporation (U.S.), Quest Diagnostics (U.S.), Allscripts
(U.S.), Siemens Healthcare (Germany), and others. These players are engaged in
partnerships to launch new products in the market and expand their consumer
base.
The
report offers comprehensive profiles on these market players and assesses their
current standing in the market. Company history coupled with annual turnover,
profit margins, segmental share, SWOT analysis, growth strategies, new product
launches, mergers and acquisitions (M&A) activities, and latest R&D
initiatives are discussed in granular detail.
Regional
Analysis:
The
segments covered in the report are analyzed with respect to four major regions
– Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA),
with respective country-level market sizing. The definition of “healthcare
revenue cycle management” is outlined in the report for a comprehensive
understanding of the market. The report discusses in detail the various players
and their respective strategies to enhance their value chain.
The
geographical analysis of the market covers namely the Americas, Europe, Asia
Pacific (APAC) and the Middle East & Africa (MEA).
The
Americas take the onus of generating the maximum revenue as the region has this
tendency to rely heavily on advanced technology. Advanced infrastructure
accommodates such a wide-spread implementation of RCM software which benefits
all. In addition, the market is profiting much from several major players
presence in the segment, along with a scheduled substantial healthcare
expenditure every year.
The APAC
is all set to register the fastest growth. Emerging economies of the region are
changing the healthcare sector remarkable, and many of them are evolving as a
medical tourism hub which as a consequence, is assertively impacting the global
RCM market. However, the MEA is still lagging much behind as the region has
quite a few poor and slow developing countries.
Europe is
holding the second position, and it can be attributed to increasing government
support in research and development. Other features such as well-developed
healthcare infrastructure and considerable healthcare funding are quite similar
in their impact to that of the Americas.
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Detailed
Table of Contents:
TABLE
OF CONTENTS
1 Report Prologue
2 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 Methodology
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
4 Market Dynamics
4.1 Drivers 25
4.1.1 Increasing Adoption Of RCM Software 25
4.1.2 Inclination Towards Integrated Healthcare
System 25
4.1.3 Increase In Recovery Audits 26
4.1.4 Increasing Number Of Hospitals And Healthcare
Services 26
...Continued
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