Revenue Cycle Management Market to Grow at 12.1% CAGR to 2021 - Influenced by Claim & Denial, Medical Coding, Insurance Verification

Growth in revenue cycle management market is driven by regulatory compliance encouraging the use of RCM solutions, government support, increasing number of patients, and process improvements in healthcare organizations brought about by RCM.

Major players in the market were identified through secondary research and their market presence was studied through primary and secondary research. Secondary research included the study of the annual and financial reports of top market players, white papers, medical journals, certified publications, articles from recognized authors, directories, and databases.

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Global revenue cycle management market is projected to reach USD 80.56 billion by 2021 from USD 45.52 billion in 2016, at a CAGR of 12.1% from 2016 to 2021. Factors like dependence of healthcare organizations on consulting, training, maintenance services, & regular updating of software are contributing to growth of this segment.

Major players operating in revenue cycle management market include McKesson Corporation (U.S.), Cerner Corporation (U.S.), Quest Diagnostics Incorporated (U.S.), athenahealth, Inc. (U.S.), and eClinicalWorks LLC (U.S.).

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Revenue cycle management market is segmented on basis of product, component, deployment, end user, and region. In 2016, integrated RCM segment is expected to account for largest share of market and is expected to grow highest CAGR during forecast period.

Revenue cycle management (RCM) systems enable healthcare organizations to manage their revenue cycles. This is achieved by reducing the number of denied insurance claims, speeding up the explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and automating processes. In addition, vendor consolidation to provide end-to-end solutions, cloud-based solutions, and potential RCM markets for IT vendors are expected to offer growth opportunities for market players.

Target Audience of Research is as Follows Healthcare equipment manufacturers, Healthcare IT vendors, Healthcare IT service providers, Healthcare providers, Healthcare payers, Healthcare consultants, Healthcare associations/institutions, Business research and consulting service providers.

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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 expected to restrain market growth.

In this report, global revenue cycle management market is segmented on basis of product, component, deployment, end user, & region. Services segment expected to account for largest share of revenue cycle management component market in 2016.

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