The global market for healthcare revenue cycle management software is expected to reach $43.3 billion by the end of 2022. The global healthcare revenue cycle management software market is expected to grow at a 6.9% CAGR from 2017 to 2022.
The healthcare revenue cycle management software market. According to the report, “Healthcare Revenue Cycle Management Software Market: Global Industry Analysis and Opportunity Assessment 2017 – 2020,” the market is expected to grow favorably in the coming years as a result of increased patient revenue, improved payment collection and billing efficiency, and profit recognition. The pressure to improve the quality of patient treatment is increasing in all healthcare settings, including hospitals and independent physician clinics.
The rising multifaceted nature of restorative coding for charge repayments is expected to fuel the market for healthcare revenue cycle management. The purpose of revenue cycle management systems is to eliminate billing errors among medical service providers.
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These systems are widely used in countries like the US where the medical coding procedure is tedious and unpredictable. Additionally, a significant number of social insurance providers will be motivated to receive revenue cycle management training as a result of declining reimbursements for medical services by public and private entities and an increase in claim denial rates.
Healthcare specialist cooperatives send automated systems to handle revenue cycle management (RCM) forms and close the payment gap created by the therapeutic charging and accumulation processes. the data from medical centers in the IT applications, for instance.
In order to handle revenue cycle management (RCM) forms and bridge the payment gap caused by the treatment charging and accumulation processes, healthcare-specialized cooperatives send automated systems. the information from medical facilities used in IT applications, for example
The ongoing indicators of change in government regulations in the healthcare sector cause an increase in operating costs. This increase in operating costs will cause the healthcare division’s revenue, which is now operating at a low edge, to fall. Additionally, under the expense-for-benefit Medicare, there are ongoing recovery reviews to identify unauthorised payments, which further reduces their income. Healthcare suppliers have started investing in RCM systems in order to maintain the review report and keep their operational expenses low.
Competition Tracking
The report has also profiled leading developers of healthcare revenue cycle management software. Companies partaking in the growth of the 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. The majority of these companies are expected to focus on removing conventional flaws and increasing security measures to protect valuable data managed by their offerings.
Moreover, new market entrants are likely to face barriers in penetrating this highly-competitive market.
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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
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