McKesson, Allscripts, AGS Health, athenahealth, Hexaware Technologies Profiled in Healthcare Revenue Cycle Management Market
HRCM is recognized as the most important system in a healthcare technology infrastructure. Healthcare providers employ certified Electronic Health Records (EHR) and automated practice management to save cost by reducing the number of denied claims and enabling patients to pay bills online.
Introduction of advanced automated solutions have helped clinical and front desk staff, providers, and coders & billers to increase performance level and save time. With increasing business, patients are using multiple channels to make payments for the services received at clinic or hospitals. Increasing number of benefits will stimulate the healthcare revenue cycle management market growth over the forecast timeline.
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Development of healthcare IT with big data analytics has largely influenced implementation of various solutions such as e-prescribing systems, and electronic medical records, among others. Growing demand to integrate healthcare systems coupled with increased funding is further set to fuel the revenue cycle management market growth. For instance, government initiatives such as Medicare, Medicaid and e-Health to implement healthcare IT solutions should spur healthcare revenue cycle management market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• AGS Health
• Hexaware Technologies
• Accretive Health, INC
• GeBBS Healthcare Solutions
• Eurohealth Systems
• Cerner Wellness
• Conifer Health Solutions
• The Advisory Board Company
• The SSI Group, LLC
Integrated solutions should be the major revenue generating segment in 2015 due to enhanced operational capabilities and streamlined financial and clinical systems with greater insights into costs, treatments, and outcomes. Healthcare revenue cycle management market services are forecast to be the leading component segment owing to stability provided over frequently updating software.
Cloud based solutions held over 75% of the 2015 healthcare revenue cycle management market share due to adoption of electronic health records for efficient data mining and accurate assessment of the health information. Increased demand for accountable care participation, reimbursement and payment reforms, ICD-10 coding challenges, and declining revenue will drive the industry by 2024.
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U.S. healthcare revenue cycle management market is forecast to rise significantly over the coming years. Increased funding and insurance coverage has expanded Medicaid coverage and introduced mandatory health insurance under the Affordable Care Act. This is set to boost the demand for these solutions in the region. Germany healthcare revenue cycle management market share accounted for more than 20% of overall European revenue in 2015 owing to increasing healthcare spending. Emergence of big data analytics, business digitalization, and favorable government regulations are some of the factors driving business growth.
Healthcare revenue cycle management market by product
Healthcare revenue cycle management market by deployment
• On Premise
• Cloud Based
Healthcare revenue cycle management market by component
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