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Europe Revenue Cycle Management (RCM) Market Segment Forecast 2019 With eClinicalWorks, GE Healthcare, Epic, Quest Diagnostics, athenahealth, Siemens Healthineers, Kareo, Cerner Corporation, McKesson, CareCloud, The SSI Group, LLC

06-03-2019 10:51 AM CET | Health & Medicine

Press release from: Data Bridge Market Research

Revenue Cycle Management

Revenue Cycle Management

The europe revenue cycle management Market report esteem has been assessed thinking about the application and provincial segments, market share and size, while the figure for every item type and application fragment has been accommodated the worldwide markets. The europe revenue cycle management market report offers detailed profiles of the key players to draw out a reasonable perspective on the focused scene of the viewpoint. It additionally grasps new product examination, money related diagram, systems and promoting patterns.



The main objectives of the examination europe revenue cycle management report is to expand the general market diagram on market elements, historic volume and esteem, hearty market technique, current and future patterns, Porters Five Forces Analysis, upstream and downstream industry chain, new innovative advancement, cost structure, government strategies and guidelines, etc. Major europe revenue cycle management organizations, organization outline, monetary information, items and administrations, strategy examination, key developments market competition, industry competition structure investigation, SWOT Analysis, and so on.

Europe revenue cycle management market is expected to register a healthy CAGR of 12.6% in the forecast period of 2019 to 2026.

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Revenue cycle management (RCM) in healthcare is the software or tool which is administered for financial transactions resulting from the medical encounters between a patient and the care provider usually healthcare organization. The hospitals and clinics are the place where treating patients with utter care is the primary job. But in recent times, due to increasing patient pool it is almost impossible to keep manual records of all the patients. Also, due to digitalization in healthcare the revenue cycle management software were developed. Hospital billing processes are crucial for management of hospitals. Any mistake in financial and claim calculation would lead to billing errors which leads to costly financial losses to the organization.

Europe revenue cycle management market is segmented based on product type, deployment, Function, component, stage and end user. 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. Some of the major players operating in this market are

· Quest Diagnostics Incorporated

· Cerner Corporation

· Allscripts

· Navigant Consulting, Inc.

· Cognizant

· McKesson Corporation, Inc.

· Change Healthcare

· eClinicalWorks

· Epic Systems Corporation

· Experian Information Solutions, Inc.

· UnitedHealthcare

· Siemens

Segmentation: Europe Revenue Cycle Management Market

· On the basis of product type, the market is segmented into integrated RCM and standalone RCM. In 2019, integrated RCM segment is expected to dominate the Europe revenue cycle management market.

o In February 2018, XIFIN and Siemens Healthineers (Germany) announced the partnership to help laboratories maximize reimbursement. This partnership is enhancing the innovation based solution that will improve the company growth rate by offering cloud based RCM solution which will maximize the efficiency and improve the cash collection hence delivering authentic business intelligence

· On the basis of stage, the market is segmented into front office, mid office and back office. In 2019, integrated RCM segment is expected to dominate the Europe revenue cycle management market.

o In April 2017, Experian Health announced the launch of Patient Schedule which is an innovative solution which allows real time integration across the organization to streamline a patients self-service appointment scheduling.

· On the basis of component, the market is segmented into software and services. In 2019, front office segment is expected to dominate the market Europe revenue cycle management market.

o In June 2016, Experian Health announced the launch of its new product Coverage Discovery which is an on demand tool in integration with Epic’s EMR environment. This tool enables Experian Health clients to reclassify the uncompensated care for altering the patients care across the government and commercial payers by the use of advanced analytics.

· On the basis of deployment, the market is segmented into web based, on premise and cloud based. In 2019, cloud based segment is expected to dominate the Europe revenue cycle management market.

o In October 2018, eClinicalWorks, a market leader in ambulatory clinical systems, announced eClinicalWorks Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. This includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as on support.

· On the basis of function, the market is segmented into claim and denial management, medical billing and coding, electronic health record (EHR), payment remittance, patient insurance eligibility check, clinical documentation improvement (CDI), others (scheduling & appointment, referral management, and contract management). In 2019, claim and denial management segment is expected to dominate the Europe revenue cycle management market.

o In March 2018, Cognizant announced the acquisition of Bolder Healthcare Solutions (U.S.) RCM software which automate and integrate medical and administrative data ensuring benefits for accurate billing and collections enhancing the company growth rate.

· On the basis of end user, the market is segmented into hospitals, general physicians and labs. In 2019, hospitals segment is expected to dominate the Europe revenue cycle management market.

o In May 2017, Change Healthcare announced that it has been selected by LabPharm Hospital Management Services (HMS) (U.S.). Their RCM services supported national network of hospitals and independent laboratories.

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Product Launch

· In June 2018, Quest Diagnostics, the world’s leading provider of diagnostic information services, unveiled the newest version of its Quanum Enterprise Content Management Solution. This latest release of Quanum Enterprise Content Solutions incorporates has a different capabilities expected to help health systems better capture, store, access, and share and manage content across an enterprise.

· In March 2019, Cerner Corporation, planned to further expand into the Alabama rural health care market through a new collaboration with the Escambia County Healthcare Authority. This will cover EHR with a digital record of a patient’s health history which includes financial and clinical information.

· In January 2016, Navigant announced the acquisition McKinnis Consulting Services (U.S.) which provides revenue cycle assessment, strategy, and optimization assistance for healthcare providers. This acquisition helps Navigant to expand healthcare revenue cycle management capabilities.

· In October 2018, eClinicalWorks, a market leader in ambulatory clinical systems, announced eClinicalWorks Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. This includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as on support.

· In April 2017, Experian Health announced the launch of Patient Schedule which is an innovative solution which allows real time integration across the organization to streamline a patients self-service appointment scheduling. This product was launched in collaboration with MyHealthDirect.

· In June 2016, Experian Health announced the launch of its new product Coverage Discovery which is an on demand tool in integration with Epic’s EMR environment. This tool enables Experian Health clients to reclassify the uncompensated care for altering the patients care across the government and commercial payers by the use of advanced analytics.

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