openPR Logo
Press release

Revenue Cycle Management (RCM) Market Current Competitive Analysis | Cerner Corporation, Allscripts, The SSI Group, LLC, McKesson Corporation, NextGen Healthcare Information Solution LLC

11-23-2018 11:45 AM CET | Health & Medicine

Press release from: TMR Research

Revenue Cycle Management (RCM) Market Current Competitive

Revenue cycle management is seeing rising uptake in healthcare centers in the US and in other countries across the world as well. It is leveraged to track the revenue from their patients by managing claims processing, payment and revenue generation. A medical billing software or practice management software is needed for it and the overall process includes determining everything from eligibility of patients, collecting their co-pay, coding and tracking claims, collecting payments, and following up on denied claims.

Health systems and hospitals are increasingly banking upon revenue cycle management software solutions to reduce operational costs. They leverage it to bring down the number of denied insurance claims, speed up explanation of benefits, improve information quality, streamline denial management, and automate processes.

Get Brochure of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=2528

Optimizing revenue cycle has become increasingly necessary for in manual processes if one person in the chain makes any mistake in the form of coding error or incorrect entry of data pertaining to insurance information and patient demographics, among others, the overall chain is affected, thereby bringing down efficiency.

Majorly fuelling adoption of revenue cycle management is the lessening number of reimbursements in the healthcare industry, government efforts to promote uptake of RCM solutions, revenue loss due to errors in billing, and process improvements in healthcare organizations.

At present, the claim and denial management functionality under revenue cycle management is most sought after and going forward too will be popular on account of the dynamic reimbursement structure, in addition to the growing occurrence of claim denials.

Overall, the revenue cycle management is of two types – integrated and standalone solutions. Competition in the market is stiff at present as players are pulling out all stops to utilize every opportunity in the nascent market.

Get Table of Content of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=2528

Global Revenue Cycle Management (RCM) Market: Overview

Revenue cycle management solutions can be very beneficial to business and healthcare organizations across the world. Revenue cycle management implies the refinement of a billing process. To do so, the revenue cycle management can make use of an organization’s medical billing software. This can be very valuable in larger healthcare organizations, where they can be used to track patient care and statuses between a patient, their registration, and their appointment at the healthcare organization. An RCM can also manage a patient’s billing and final payment of balance.

According to the Healthcare Financial Management Association, a standard revenue cycle comprises all admin related functions as well as clinical functions, each of which contribute to the gathering, storage, and use of management oriented data and service revenue. A revenue cycle may therefore include registration, preregistration, coding, claims submissions, charge capture, remittance processing, and third-party follow-up.

Global Revenue Cycle Management (RCM) Market: Key Trends

One of the key drivers currently augmenting the global revenue cycle management market is the growing demand by healthcare organizations for workflow optimization. The overall workload experienced by the average healthcare organization has been growing at a considerable rate over the past years, and is likely to continue rising over the coming years. Hospitals and other institutions are therefore looking towards revenue cycle management solutions providers for ways to streamline their processes and help maintain accurate medical and financial records.

The global revenue cycle management market is also likely to continue being supplemented in growth rate through the introduction of regulatory reforms in regional healthcare industries, which will make the management of resources a more complex process. This is expected to create a heavy demand for revenue cycle management over the coming years.

Global Revenue Cycle Management (RCM) Market: Market Potential

Multiple providers of healthcare, especially from developed economies, are looking to strike a balance between the traditional management models as well as the newer, value-addition models. Their adoption rates of revenue cycle management for various purposes reflects on the overall need for the market’s players over the foreseeable future. One such example is the contract recently formed between LabPharm Hospital Management Services from Atlanta and Change Healthcare. The latter will be handling a highly detailed structure of revenue cycle management services that will fall in line with a national hospital network as well as with independent labs in the U.S.

The New York City Health and Hospitals Corporation has also become a part of the global revenue cycle management market by announcing its implementations of Epic revenue cycle management services for healthcare. The move was made to augment patient revenue earned by the health system by an added 5 percent. The NYCHHC is one of the largest public health systems in the U.S. and has taken up the Epic revenue cycle management services nearly one year after the EPIC EHR implementation projects.

Read Comprehensive Overview of Report @ https://www.tmrresearch.com/revenue-cycle-management-market

Global Revenue Cycle Management (RCM) Market: Regional Outlook

The highly advanced healthcare industry of North America has made it easier for players from the global revenue cycle management market to set up shop here, making this region the leader in the market over the recent past. The market is likely to continue being dominated by North America over the coming years for similar reasons as well as an incremental workload on national healthcare organizations. Physician’s offices have shown the higher volume of implementation of revenue cycle management so far.

Global Revenue Cycle Management (RCM) Market: Competitive Analysis

The nature of competition between players from the global revenue cycle management market is expected to grow aggressive over the coming years. The scope of opportunities are very high currently and are expected to rise over the coming years, not just in developed economies, but emerging ones as well. The current leaders in the global revenue cycle management market include Cerner Corporation, Allscripts, The SSI Group, LLC, McKesson Corporation, NextGen Healthcare Information Solution LLC, Epic Systems Corporation, and CareCloud Corporation.

About Us:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Contact Us:
Rohit Bhisey
Head Internet Marketing
Tel: +1-415-520-1050
Email: sales@tmrresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Revenue Cycle Management (RCM) Market Current Competitive Analysis | Cerner Corporation, Allscripts, The SSI Group, LLC, McKesson Corporation, NextGen Healthcare Information Solution LLC here

News-ID: 1395030 • Views: 238

More Releases from TMR Research

Recycled Thermoplastic Market Insights By Growth, Emerging Trends And Forecast B …
Recycled Thermoplastic Market: Snapshot The demand within the global recycled thermoplastic market has been rising on account of advancements in the energy sector. The use of thermoplastics across a wide array of industries has given a thrust to the growth of the global market. Moreover, the superiority of recycled thermoplastics over thermosets has also given a strong push to the growth of the global market. There have been key advancements in
Smart Card Materials Market Projected to Witness a Double-Digit CAGR During 2028
Global Smart Card Materials Market: Snapshot The global market smart card has gained phenomenal momentum in recent years due to increasing usage of smart cards in various industries for various purposes. The growing popularity of smart cards due to the convenience they offer for identification, cashless payments, and tracking amongst other things. Proliferation of BFSI industry that has seen a constant rise in its consumer base has prompted many smart card
Taxifolin Market Dynamic Business Environment During Forecast 2018 – 2028
Taxifolin Market: Snapshot Taxifolin or dihydroquercetin is a flavonoid that acts as a potential chemopreventive agent. It helps in the regulation of genes through an ARE-dependent mechanism. Primarily, taxifolin has the properties to slow down the cell growth of ovarian cancer. It can be found across many products and beverages. Particularly, taxifolin can be found across plant-based foods such as vegetables, wine, cocoa, and fruits. Conifers such as Siberian larch and
Nafion Market Promising Growth Opportunities & Forecast 2019-2029
Nafion Market: Snapshot Nafion is a sophisticated name for sulfonated tetrafluoroethylene based fluoropolymer-copolymer. It was first discovered by Walter Grot of DuPont back in the 1960s. Nafion is a first synthetic polymer that possesses ionic properties that are known as ionomers. Nafion has unique ionic features because of the incorporation of perfluorovinyl ether groups with terminated sulfonate groups onto a PTFE backbone. Nafion can also act as a cation exchange polymer

All 5 Releases


More Releases for RCM

Healthcare Rcm Outsourcing Market DRIVES FUTURE CHANGE | Availity, The SSI Group …
Global Healthcare Rcm Outsourcing Market Growth (Status And Outlook) 2024, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Healthcare Rcm Outsourcin market,
Healthcare RCM Market Size With an Impressive Growth Rate By 2027 - Leidos, nThr …
Growing population and the consequent rise in demand for healthcare facilities along with claims to various medical reimbursements have rendered the medical bills to be highly error prone. Furthermore, various government related compliance requirements coupled with increased fraudulence screening are leading to the demands for a more robust solution. Automation in front desk activity and online payments for patients have reduced the number of claim denials. Automated solutions has also
Revenue Cycle Management (RCM) Market grow aggressive over 2025
Global Revenue Cycle Management (RCM) Market: Snapshot Revenue cycle management is seeing rising uptake in healthcare centers in the US and in other countries across the world as well. It is leveraged to track the revenue from their patients by managing claims processing, payment and revenue generation. A medical billing software or practice management software is needed for it and the overall process includes determining everything from eligibility of patients, collecting
Global RCM Outsourcing Market: : Industry Size, Share, Growth, Forecasts
MarketResearchReports.Biz adds “Global RCM Outsourcing Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the RCM Outsourcing and the growth estimates for the forecasted period. The RCM Outsourcing Market has been comprehensively detailed in the report with special focus on a range of key elements such as market share, forecast and base figures, CAGR, driving factors, growth restraints, and business
Global Healthcare RCM Outsourcing Market Challenges and Frontiers of Growth
Qyresearchreports include new market research report Global Healthcare RCM Outsourcing Market Size,Status and Forecast 2025 to its huge collection of research reports. This report on the global Healthcare RCM Outsourcing market has been compiled by research analysts of the industry, with a primary aim to offer relevant information on the current market conditions for the global Healthcare RCM Outsourcing. Its objective is to talk about the growth prospects of the market
Revenue Cycle Management (RCM) Market Report 2017 Analysis & Research 2025
Global Revenue Cycle Management (RCM) Market: Overview Revenue cycle management solutions can be very beneficial to business and healthcare organizations across the world. Revenue cycle management implies the refinement of a billing process. To do so, the revenue cycle management can make use of an organization’s medical billing software. This can be very valuable in larger healthcare organizations, where they can be used to track patient care and statuses between a