Revenue Cycle Management (RCM) Market Have Made USD 24.5 Billion by 2024 In Europe With Players Like McKesson, Cerner, Quest, Athena, Allscripts, E Clinical and Many More

The Europe revenue cycle management market is expected to reach USD 24.5 billion by 2024, from USD 11.1 billion in 2016, growing at a CAGR of 10.5% during forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Europe Revenue Cycle Management (RCM) Market By Product Type (Integrated RCM, Standalone RCM), By Stage (Front Office, Mid Office, Back Office), By End User (Hospitals, General Physicians, Labs, Others), By Deployment (Web-based, On-premise, Cloud-based), By Component (Software, Services), By Country (Germany, France, U.K., Spain, Italy, Russia, Belgium, Turkey, Switzerland, Netherlands) – Industry Trends and Forecast to 2024

Market Definition: Europe Revenue Cycle Management (RCM) Market

Revenue cycle management (RCM) is used by healthcare providers to scale and manage the process of healthcare billing and reimbursements. This is achieved by improving the process of claims management, speeding 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.

Major Market Competitors: Europe Revenue Cycle Management (RCM) Market

The Key Players in the Europe Revenue Cycle Management Market are:-

McKesson Corporation,
Cerner Corporation,
Quest Diagnostics,
Athena Health Inc.,
E Clinical Works,
Care Cloud Corporation,
The SSI Groups Inc.,
GE Healthcare,
Epic Systems,
Siemens Healthcare,
and Kareo Inc., among others.

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Market Segmentation: Europe Revenue Cycle Management (RCM) Market 

In this report, the Europe revenue cycle management market is segmented on the basis of product type, deployment, component, stage, end-user, and geography. The revenue cycle management market is segmented with respect to type into integrated RCM and standalone RCM. The end-users of this market include hospitals, laboratories, and physicians and others. By product type RCM solutions are segmented into standalone and integrated RCM. The integrated RCM solution are generally used by larger organizations where integration with other healthcare IT products such as RIS, LIS, PACS, EHR among others to form a more holistic process for billing and claim settlements. However standalone RCM is best used in smaller hospitals and physician offices where they need to manage only one healthcare application.

The Europe revenue cycle management market is steadily progressing owing to factors, such as decreasing reimbursement in healthcare industry, reduction of overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by healthcare industry especially made on information technology.

Based on geography the market is segmented into 11 countries, Germany, France, U.K., Spain, Italy, Russia, Belgium, Turkey, Switzerland, Netherlands and rest of Europe. Germany is expected to dominate the market due to the rising need to decrease healthcare expenditure which is forming the major share of the market.

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