Revenue Cycle Management Market 12.1% CAGR to 2022
PUNE, India, January 29, 2018 /PRNewswire/ --
RnRMarketResearch.com adds Revenue Cycle Management Market Report is forecast to reach $90.43 billion by 2022 from $51.07 billion in 2017 at a CAGR of 12.1% during (2017-2022) driven by decreasing reimbursements in the healthcare industry, regulatory mandates for the adoption of EHR/EMR, government initiatives to boost the adoption of RCM solutions, loss of revenue due to billing errors, and process improvements in healthcare organizations.
Browse 104 Market Data Tables and 31 Figures spread through 168 Pages and in-depth TOC on "Revenue Cycle Management Market by Product (Integrated Solutions, Standalone), Function (Claim & Denial, Medical Coding, Insurance Verification), Deployment (Web based, on premise, Cloud based), End User (Hospitals, Physicians, Lab) - Global Forecast to 2022" http://www.rnrmarketresearch.com/revenue-cycle-management-rcm-market-by-product-integrated-revenue-cycle-management-standalone-revenue-cycle-management-by-deployment-on-premise-web-based-cloud-based-by-component-hardware-market-report.html .
The key players in the global revenue cycle management market are McKesson (US), Cerner (US), Quest Diagnostics (US), Allscripts Health Solutions (US), and athenahealth (US).
By geography, North America is expected to account for the largest share of the global revenue cycle management market. The large share of this regional segment can be attributed to stringent legislative and accreditation requirements regarding healthcare, high adoption rate of HCIT technologies, and regulatory requirements regarding patient safety.
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On the basis of deployment, the revenue cycle management market is segmented into web-based, on-premise, and cloud-based solutions. The web-based market is expected to account for the largest share of the global revenue cycle management market in 2017. The cloud-based market, on the other hand, is expected to witness the highest CAGR during the forecast period. The growing need for accessing patient records from disparate information systems in real time and from remote locations is the major factor driving the growth of the cloud-based solutions segment.
The physicians segment is expected to account for the largest Revenue Cycle Management Market share in 2017. On the basis of end user, the market is broadly segmented into physicians, hospitals, laboratories, and other end users. The physicians segment is expected to account for the largest share of the global revenue cycle management market in 2017 and is projected to register the highest growth rate during the forecast period. The growing adoption of integrated practice management systems among physicians and the mandatory implementation of advanced RCM solutions are the key factors driving the growth of this segment.
Based on function, the claim and denial management segment is accounted for the largest share of the revenue cycle management market in 2017. However, the high pricing and costly maintenance of RCM solutions, scarcity of skilled IT professionals, and IT infrastructural constraints in developing markets are the major factors restraining the growth of this market.
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The revenue cycle management market in this report is segmented by product, deployment, function, end user, and region. The study tracks and analyzes competitive developments such as product launches, collaborations, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the revenue cycle management market.
Break-up profile of primaries:
- By Company Type: Tier 1 - 45%, Tier 2 - 34% and Tier 3 - 21%
- By Designation: C-level - 10%, D-level - 14% and Others - 76%
- By Region: North America - 40%, Europe - 32%, Asia-Pacific - 20%, and RoW - 8%
Another research titled Healthcare Fraud Detection Market Global Forecast to 2022 says, the healthcare fraud detection market is expected to reach $2,242.7 million by 2022 from $631.0 million in 2017, at a CAGR of 28.9%. The prescriptive analytics segment is expected to grow at the highest CAGR during the forecast period. The services segment is expected to dominate the market during the forecast period. North America to witness high growth during the forecast period. Companies such as IBM (US), Optum (US), SAS (US), McKesson (US), SCIO (US), Verscend (US), Wipro (India), Conduent (US), HCL (India), CGI (Canada), DXC (US), Northrop Grumman (US), LexisNexis (US), Pondera (US) have been profiled in this 160 pages research report available at http://www.rnrmarketresearch.com/contacts/purchase?rname=1295272 .
Explore more reports on Healthcare Market at http://www.rnrmarketresearch.com/reports/life-sciences/healthcare .
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