The global market for healthcare revenue cycle management software is anticipated to reach $43.3 billion. The market for healthcare revenue cycle management software is anticipated to climb at a CAGR of 6.9% from 2017 to 2022. Over Half of Global Revenues Will Be Produced by the Adoption of Healthcare-RCM Services
According to the report, there will be a big demand for services that make revenue cycle management for healthcare settings easier in the near future. In the market for software to manage the revenue cycle in the healthcare industry, services will account for more than half of sales in 2017. Despite making up nearly half of global revenues in 2017, the healthcare industry is predicted to gradually see a fall in the sales of revenue cycle management software.
A fresh report on the healthcare revenue cycle management software market has been recently published by Future Market Insights (FMI). The report, titled, “Healthcare Revenue Cycle Management Software Market: Global Industry Analysis and Opportunity Assessment 2017 – 2020,” anticipates the market to market positive growth over the coming years, on account of the increasing cumulative patient revenue, improvement payment collection & billing efficiency and recognition of profit . From hospitals to independent physician clinics, the stress of enhancing the quality of patient care is increasing in parallel to the declining reimbursements
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Competition Tracking
The report has also profiled leading developers of healthcare revenue cycle management software. Companies partaking in the growth of global healthcare revenue cycle management software market through 2022, include Cerner Corp., McKesson Corp., Quest Diagnostics, Inc., athenahealth, Inc., Epic Systems Corporation, EMC Corp., CareCloud Corporation, Greenway Health, LLC, Allscripts Healthcare Solutions, Inc., and Qsi Management Llc. Majority of these companies are expected to focus on removing conventional flaws and increasing security measures to protect valuable data managed by their offerings.
Billing & Payment Management applications to Gain Traction
During the forecast period, billing & payment management applications of healthcare revenue cycle management software are poised to reflect impressive growth by registering a CAGR of 8.2%. The demand for revenue cycle management software in account receivable follow-up management applications is also expected to gain traction, revenues from which are currently expected to procure over one-fourth share on global revenues.
On the other hand, some healthcare organisations are experiencing how manual nature of claims management processes is creating an administrative burden on healthcare revenue cycle management. The report projects that claim management applications of healthcare revenue cycle management software are expected to reflect a relatively slow growth in terms of revenues, amassing just over US$ 5.84 Bn revenues by the end of 2022.
Key end-users – Hospitals, Clinics and Laboratories
According to the report, the largest end-user of healthcare revenue cycle management software is pegged to be hospitals. The adoption of healthcare revenue cycle management software is also expected to increase in clinics and laboratories. In 2017, laboratories are estimated to contribute nearly one-fifth share of global revenues, while the end-use of healthcare revenue cycle management software in clinics is expected to rake close to US$ 6.5 Bn in revenues.
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Key Segments Covered
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Component
- Software
- Services
End User
- Hospitals
- Long Term Care Centres
- Rehabilitation Centres
- Clinics
- Laboratories
- Other End Uses
Application
- Claim Management
- Billing and Payment Management
- Collections Management
- Account Receivable Follow up Management
- Other Applications
Deployment
- Cloud-based
- On-Premise
Table of Content
1. Global Healthcare Revenue Cycle Management Software Market – Executive Summary
2. Global Healthcare Revenue Cycle Management Software Market Overview
2.1. Introduction
2.1.1. Global Healthcare Revenue Cycle Management Software Market Taxonomy
2.1.2. Global Healthcare Revenue Cycle Management Software Market Definition
2.2. Global Healthcare Revenue Cycle Management Software Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Healthcare Revenue Cycle Management Software Market Y-o-Y Growth
2.3. Global Healthcare Revenue Cycle Management Software Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Cost Structure Analysis
2.5. Pricing Analysis
2.6. Value Chain Assessment and Profitability Margins
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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