Revenue Cycle Management (RCM) Market : Industry Share, Growth, Trends, Revenue Analysis To 2020 – 2026 | Top Companies- All scripts Healthcare Solutions, Inc. (IN), athenahealth, Inc. (US), CareCloud Corporation (US)
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Global Revenue Cycle Management Market has accounted to about USD 29.5 billion in 2018, rapidly growing at a CAGR of 12.5% from 2019 to 2026, is expected to reach USD 75.69 billion by 2026. The new market report contains data for historic years 2015, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Market Definition: Global Revenue Cycle Management Market
Revenue cycle management (RCM) is applied by healthcare organizations to scale and manage the process of healthcare billing and reimbursements. It is done by improving the process of claims management, accelerating explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and by automating processes. The RCM solution manages the patient’s bills from entering the hospital to reimbursement of claims.
- Factors like decrease in reimbursement in healthcare industry, reduction of total healthcare costs, initiatives undertaken by governments for implementation of revenue cycle management solutions, and increasing expenditure by healthcare industry especially made on IT are the major drivers of the global revenue cycle management market.
- Key advantage over traditional revenue cycle management.
- Lack of training and skills in the staff.
- Lack of technical infrastructure support
Revenue Cycle Management (RCM) Market Country Level Analysis:
The countries covered in the Revenue Cycle Management (RCM) Market report are U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Brazil, Argentina and Rest of South America as part of South America South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa (MEA) as a part of Middle East and Africa (MEA).
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Leading Revenue Cycle Management (RCM) manufacturers/companies operating at both regional and global levels:
All scripts Healthcare Solutions, (IN), athenahealth, (US), CareCloud Corporation (US), Cerner Corporation (US), Conifer Health Solutions LLC (US), eClinicalWorks (US), Epic Systems Corporation (US), Experian Information Solutions,(US), General Electric Company (US), GeBBS Healthcare Solutions (IN), McKesson Corporation (US), NXGN Management, LLC. (US), nThrive, (US), Quest Diagnostics Incorporated (US), SSI Group, LLC (US)
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- It provides five-year forecast assessed on the basis of how the market is predicted to grow
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Segmentation: Global Revenue Cycle Management Market
- By Product Type
- Integrated RCM
- Standalone RCM
- By Stage
- Front Office
- Mid Office
- Back Office
- By Function
- Claim & Denial
- Medical Billing Coding
- Payment remittance
- Electronic health record
- Clinical documentation improvement
- Insurance Verification
- Others (scheduling & appointment, referral management, and contract management)
- By End-User
- General Physicians
- Other end users (pharmacies, emergency medical centers etc.)
- By Deployment
- By Component
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