Healthcare
Revenue Cycle Management Market Research Report, by Product Type (Integrated,
Standalone Software) Component (Software, Services) Deployment (On Premise,
Cloud Based) End-user (Hospital, Ambulatory Service)- Global Forecast Till 2027
Market Scenario
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.
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 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 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.
Regional Analysis:
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.
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.
The APAC is all set to register the
fastest Healthcare
Revenue Cycle Management market 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.
Segmentation:
Based on the product type, the market can
be segmented into advanced integrated software and standalone software. The
advanced integrated software accrues almost 81.4% of the total revenue
generated in the market and is blessed with the fastest CAGR of 12.3% during
the forecast period.
Component-based segmentation of the
market includes software and services. The software segment is gaining
precedence considerably in the global market owing to its applicational ease,
and it commanded the largest market share in 2016.
Deployment-wise segmentation comprises
on-premise and on-cloud/web-based. On-cloud section is gaining much traction.
However, on-premise application held the largest share of the market in 2016 as
many still find complete cloud solution a bit difficult to operate.
Based on end-users, the market can be
segmented into hospitals and ambulatory services. Hospitals hold the major
share, and many rely heavily on its assistance in cases of emergency.
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