Revenue Cycle Management Market Growth to 2020 Propelled by Rising Investments in Healthcare IT

Jan 22, 2016, 01:00 ET from ReportsnReports

PUNE, India, January 22, 2016 /PRNewswire/ --

The global revenue cycle management market is expected to reach USD 7.09 billion by 2020, at a CAGR of 11.8% from 2015 to 2020 due to growing investments in healthcare IT and consolidation of healthcare providers that are influencing the growth of this market.

Complete report on revenue cycle management market spread across 208 pages, profiling 25 companies and supported with 113 tables and 127 figures is now available at .

Revenue cycle management system (RCM) for healthcare providers enables healthcare organizations 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. The RCM solution starts when a patient enters the hospital; it automates business processes leading to speedy follow ups, which encompasses patient and payer follow-ups. Hospitals need to maintain a faster RCM cycle to stay solvent, maintain requisite cash flow, and keep revenue figures stable.

The revenue cycle management market accounted for a share of 35.5% of the global healthcare provider IT market in 2014.

The global revenue cycle management market is segmented on the basis of product type, component, deployment, end user, and geography. On the basis of geography, the market is classified into North America, Europe, Asia-Pacific, and rest of the world (RoW).

In 2014, North America accounted for the highest share in the global revenue cycle management market. As the growth of the healthcare industry is affected by healthcare expenditure, increased investments in healthcare IT solutions are expected to fuel the growth of the global revenue cycle management market in this region.

The report includes company profiles of major players, along with major developmental activities such as new product launches, mergers & acquisitions, collaborations, and partnerships. Companies profiled in this report include McKesson Corporation (U.S.), Cerner Corporation (U.S.), Quest Diagnostics (U.S.), Athenahealth, Inc. (U.S.), Allscripts (U.S.), eClinical Works (U.S.), Care Cloud Corporation (U.S.), The SSI Groups, Inc. (U.S.), GE Healthcare (U.K.), Epic Systems (U.S.), Siemens Healthcare (Germany), and Kareo, Inc. (U.S.), among others. Order a copy of Revenue Cycle Management Market by Product Type (Integrated RCM, Standalone RCM), Component (Service, Software), Deployment (Web-Based, on Premise, Cloud Based), End- SER (Hospitals, Physicians, Labs), and Geography - Global Forecast to 2020 research report at .

From an insight perspective, this research report has focused on various levels of analysis, namely, industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles. These comprise and discuss the basic views on competitive landscape, usage patterns, emerging- and high-growth segments, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities in the global revenue cycle management market.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help them, garner a greater market share. Firms purchasing the report could use any one or a combination of the below mentioned five strategies to strengthen their market share.

On a related note, another research report on Customer Experience Management Market Global Forecast to 2020 says, the global CEM market is expected to grow from USD 4.36 Billion in 2015 to USD 10.77 Billion by 2020, at a CAGR of 19.9% during the forecast period of 2015 to 2020. This report provides insights on the key players, challenges, and drivers of the global CEM market, along with in-depth analysis of the scope of the market. Major players, such as Nokia Networks, IBM, Adobe Systems Inc., Oracle Corporation, Tech Mahindra, Verint Systems, Medallia, and SAP SE, among others have been profiled in this 153 pages research available at .

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