Revenue Cycle Management Market 2017 – 2023 | Eclinicalworks, LLC, Epic Systems Corporation, Gebbs Healthcare Solutions, GE Healthcare, Experian PLC, Mckesson Corporation, Quest Diagnostics Incorporated

Revenue Cycle Management can be defined as the management of all administrative and clinical functions that directly or indirectly contribute to the revenues through patient service to optimize overall profits. Revenue cycle management undergoes various processes such as patient registration, eligibility, and verification for insurance, medical coding, claims processing, and payments & AR management. The process of RCM enables healthcare facilities to optimize revenues through claims processing. Primarily, there are four prominent elements of RCM that includes patients, healthcare provider, billing company, and insurance payers.

The global revenue cycle management market was valued at $35,419 million in 2016, and is projected to reach $85,008 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023.

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The growth of the RCM market is majorly driven by supportive growth through regulatory compliance, increasing healthcare spending, growing demand for cloud-based solutions, and increasing market for outsourced RCM solutions. In addition, growth in healthcare expenditure in emerging nations and technological advancements for workflow optimization fuel the demand for advanced healthcare systems, thereby driving the RCM market growth. However, factors such as high costs associated with RCM deployment and scarcity of trained professionals are expected to be the restraining factors for the RCM market growth during the forecast period.

Key market players that operate in the market are Cerner Corporation, Eclinicalworks, LLC, Epic Systems Corporation, Gebbs Healthcare Solutions, GE Healthcare, Experian PLC, Mckesson Corporation, Quest Diagnostics Incorporated, Athenahealth, Inc., and Allscripts Healthcare Solutions, Inc.

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Revenue Cycle Management Market Key Segments:

By Type

Standalone
Integrated

By Component Type

Software
Services

By Deployment

Cloud
On-premise

By End-user

Hospitals
Physicians
Diagnostic & ambulatory care centers

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Posted by on Friday July 12 2019, 7:01 AM EDT. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Featured Press Release, Software & Services, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks are open. Follow responses: RSS 2.0

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