Market Analysis
The global Healthcare Revenue Cycle Management Market is predicted to touch USD
43,500.0 million at a 12.2% CAGR between 2020- 2027, according to the new
report by Market Research Future (MRFR). Healthcare revenue cycle management or
HRCM, simply put, is a financial method that uses billing software to track the
details of patients.
Various factors are adding to the healthcare revenue
cycle management software market growth. According to the new MRFR report, such
factors include rising availability of technologically advanced systems, use of
centralized software for medical coding and billing that has enhanced clinical
outcomes and reduced errors, and the availability of upgraded healthcare
revenue cycle management software that has reduced the outstanding accounts
receivable of different healthcare facilities and hospitals. Besides, developed
software that is highly efficient and helps to offer enhanced patient care and
technological advances in the healthcare revenue cycle management software is
also adding market growth.
On the contrary, scarcity of trained experts to
handle the healthcare revenue cycle management software may limit the global
Healthcare Revenue Cycle Management Market growth over the forecast
period.
Market Segmentation
The MRFR report gives an inclusive segmental
analysis of the global Healthcare Revenue Cycle Management Market report based
on type, components, deployment, and end user.
By
type, the global Healthcare
Revenue Cycle Management Market is segmented into
standalone software and integrated software. Of these, standalone software will
lead the market over the forecast period.
By components, the global Healthcare Revenue Cycle
Management Market is segmented into services and software.
By deployment, the global healthcare revenue cycle analytics market is segmented into cloud/web-based and on-premises.
Of these, the on-premises segment will dominate the market over the forecast
period.
By end user, the global Healthcare Revenue Cycle
Management Market is segmented into ambulatory services and hospitals. Among these, hospitals will
have lions share in the market over the forecast period.
Regional Analysis
Based on the region, the global Healthcare Revenue
Cycle Management Market report covers the growth opportunities and recent
trends across the Americas, Europe, the Asia Pacific (APAC), and the Middle
East and Africa (MEA). Of these, North America will spearhead the market over
the forecast period. The presence of key players, the adoption of better
management services, developed technology, healthcare revenue, and high better
healthcare infrastructure are adding to the Healthcare Revenue Cycle Management
Market growth in the region.
The Healthcare Revenue Cycle Management Market in
Europe is predicted to hold the second-largest share over the forecast period.
Rising services of revenue cycle management offered by the companies,
increasing outsourcing trends, and increasing adoption of revenue cycle
management are adding to the Healthcare Revenue Cycle Management Market growth
in the region.
The global Healthcare Revenue Cycle Management
Market in the APAC region is predicted to grow at a fast pace over the forecast
period. Increasing revenue cycle management service start-ups, higher
penetration of revenue cycle management, and increasing patient population are
adding to the growth of the Healthcare Revenue Cycle Management Market growth
in the region.
The Healthcare Revenue Cycle Management Market in
MEA is predicted to have sound growth over the forecast period. The emergence
of software & services companies and penetration of revenue cycle
management players are adding to the global Healthcare Revenue Cycle Management
Market growth in the region.
Key Players
The global Healthcare Revenue Cycle Management Market
Players
include Siemens Healthcare (Germany), Allscripts (U.S.), Quest Diagnostics
(U.S.), McKesson Corporation (U.S.), Cerner Corporation (U.S.), Epic Systems
(U.S.), and General Electric Company (U.S.). Key players have encompassed
several strategies such as mergers, acquisitions, geographic expansions, new
product launches, contracts, & R&D to create a niche in the
market.
About Market Research Future:
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