The healthcare RCM assess, optimize, and manage all components in obtaining patient
information, while creating a simplified, integrated workflow to ensure hassle free claims
approval. It also helps in managing the financials of the organizations. It helps in managing
the patient revenue cycle of hospital or other healthcare organizations. Favorable federal
measures such as incentives for meaningful use, pressure to curb the surmounting
healthcare cost, growing number of hospital & healthcare services, and inclination towards
integrated healthcare system drives the market growth.
The Global Healthcare Revenue Cycle Management Market is growing with a rapid
pace; mainly due to lack of time, busy schedule, cost effective alternative
option, consistently increasing primary, secondary and tertiary healthcare centers,
consistently increase in healthcare infrastructure, increasing number of hospitals day by
day, growing acceptance rate of RCM software, changing new terms and condition and
regulatory rules, increasing pressure to curb healthcare cost and rapidly increasing patient
inflow drive the market growth. It has also been observed that, increasing number of claims
day by day and rising need for better management software also fuel the growth. Market
has witnessed certain barriers such as, limited availability of well-trained employ,
professionals, and high cost of the software may slow the market growth over the review
period.
The Global Healthcare Revenue Cycle Management Market has registered strong
growth in recent years and expected to registered lucrative growth in upcoming years. The
market for healthcare revenue cycle management (RCM) is growing at a healthy pace. RCM
market is predicted to grow at a healthy CAGR of 12.2% during the forecast period and is
estimated to reach USD 43,500.0 million by 2027.
Global Healthcare Revenue Cycle Management Market- Regional Analysis
Based on region, the global healthcare revenue cycle management market is mainly divided
into Americas, Europe, Asia Pacific, and Middle East & Africa. Americas dominates the global
healthcare revenue cycle management (RCM) market due to high better healthcare
infrastructure, healthcare revenue, and developed technology, adoption of the better
management services and the presence of the leading players. Moreover, people in this
region focus more on the health, which leads the increase in healthcare spending. To
manage the increasing healthcare revenue, need for the healthcare RCM software and
services has increased. According to the Centers for Medicare & Medicaid Services, in 2015,
U.S. healthcare spending increased 5.8% reaching USD 3.2 trillion and the healthcare
spending in the United States increased in 2014 was, $9,532 per person. According to the
American Hospital Association, in 2016, total number of all US Registered Hospitals was
5,564. Increasing healthcare income and increasing number of hospitals have boosted the
growth of the market in Americas. In addition to this, increasing government support for the
development of the advanced software and well developed healthcare sector have fuelled
the market growth of Americas.
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Global Healthcare Revenue Cycle Management (RCM) market - Competitive
Analysis
As the market has registered lucrative growth and expected to registered strong growth in
upcoming years, many players are expected to enter into the market. It has also been
observed that, existing players are seen expanding their business and became more
aggressive in market. There is a strong rivalry among existing players have been observed.
Many major players in RCM such as: Quest Diagnostic (US), Cerner Corporation (U.S.), Epic
Systems Corporation (U.S.), Siemens Healthcare (Germany), General Electric Company
(U.S.), Allscripts (U.S.), , AdvantEdge Healthcare Solutions (U.S.), CareCloud (U.S.),
Acelerartech (U.S.), 3M (U.S.), McKesson Corporation (U.S.)
Recent Happenings in Healthcare Revenue Cycle Management Market: -
August, 2017- Allscripts is one of the leaders in healthcare information technology solutions
that advances in clinical, financial, and operational results. Allscripts had signed an