European Revenue Cycle Management (RCM) System Market Worth $1,199.0 Million by 2018
FORT WORTH, Texas, November 26, 2014 /PRNewswire/ --
The European Revenue Cycle Management (RCM) System market report defines and segments the concerned market in Europe with analysis and forecast of revenue. This market is expected to reach $1,199.0 million by 2018 at a CAGR of 6.0% from 2013 to 2018.
Browse through the TOC of the European Revenue Cycle Management System Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation of this market in the region, which is supported by various tables and figures.
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Revenue cycle management, in simple terms, refers to the whole process of managing claims, revenues, and payments in a healthcare facility. It enables healthcare organizations of all sizes to accelerate their revenue cycles. This is achieved by reducing the number of denied insurance claims, speeding explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and automating processes. RCM solutions come into play as soon as a patient enters the hospital. They automate business processes leading to speedy patient and payer follow-up. Thus, they streamline the process and offer several advantages to healthcare service providers, insurance companies, and patients as well.
The European RCM market is witnessing growth on account of various factors, one of the major ones being the presence of several companies in the market. Each company offers a distinctive set of products and services to meet the varied demands of end users. Globally, Europe is the second-largest RCM market. This growth is attributed to the rise in the adoption of new and updated versions of RCM solutions. New projects have been initiated to meet the huge demand for new version. Healthcare providers in Europe are now undergoing consolidation to improve the purchasing capacity of RCM solutions.
The European revenue cycle management system market is segmented on the basis of its types, deployments, components, and end users. By types, the market is segmented into web scheduling, integrated RCM system, standalone RCM system, web pre-registration, medical necessity alert at registration, claims attachment rules, biller's dashboard, EMR Documentation for claims, direct payer claims, EFT transaction, eligibility transaction with payer, and web bill pay. The market by deployments and components is further categorized as on-premise, cloud-based, web-based and hardware, software, services respectively. End users of this market include hospitals, office-based physicians, ambulatory care solutions, and medical & diagnostic laboratories, among others. On the basis of geography, the report analyzes major countries such as the U.K., Germany, Spain, France, and Italy.
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Key players in European Revenue Cycle Management System Market are SSI Group, Inc., CareCloud Corporation, eClinicalWorks, GE Healthcare, McKesson Corporation, Cerner Corporation, Allscripts, Quest Diagnostics, Kareo, Athenahealth, and other companies.
This report also includes the market share, value chain analysis, and market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in the market.
Related Reports:
The North American Revenue Cycle Management System (RCM) Market report elaborates on the market growth factors along with sales figure and forecasts between 2013 and 2018. This report covers various details of the market that help understand how it performs and the progress it will witness during the forecast period of 2013 to 2018.
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