How the healthcare industry is tapping into the booming Revenue Cycle Management Market in 2020

The global revenue cycle management (RCM) market is set to reach USD 216,990.6 million by 2026, registering a CAGR of 12.4% during the forecast period. Increasing inclination of patients to get outpatient care is one of the main driving factors for this market. Inpatient care, where people stay in a hospital overnight, is an expensive endeavor as it involves multiple costs and taxes that shoot up the hospital bill. Outpatient options are cheaper wherein the patient only needs to pay for consultation and medicines and gets the remaining care outside the hospital, such as in her home. In recent years, outpatient revenue has grown at a rapid pace and it has led to a sudden surge in the demand for RCM solutions. For example, data released by the American Hospital Association in 2019 shows that net outpatient revenue increased by 5.7% from 2016 to 2017, standing at $472 billion in 2017. This is indicative of the rising preference for outpatient care which has significantly added to healthcare revenue cycles and raised the demand for RCM tools.

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/revenue-cycle-management-market-100275

Leading Players operating in the Revenue Cycle Management Market are:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

o Conifer Health Solutions, LLC
o McKesson Corporation
o R1 RCM Inc.
o Epic Systems Corporation
o GeBBS Healthcare Solutions
o eClinicalWorks
o Cerner
o athenahealth, Inc.
o Allscripts Healthcare, LLC

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/revenue-cycle-management-market-100275

Increasing Investment in Innovation to Energize Market Competition
Investing in research and development to create innovative products is emerging as the dominant being adopted by companies to solidify their presence in the RCM market. For example, in February 2017, McKesson unveiled its new revenue cycle management program, Healthy Hospital, that utilizes advanced analytics to help hospitals to identify areas where revenue generation can be sped up and financial performance optimized. Similarly, Apprio, Inc. inaugurated its specialized RCM division called APPRIOHEALTH in March 2019 with a view to deliver advanced RCM technologies to its clients.

Detailed Table of Content:

1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Statistical overview of hospital admissions- For key countries,2018
4.2. Technological advancements in revenue cycle management process
4.3. New product launch
4.4. Key start-ups with their funding overview
4.5. Regulatory scenario - For key countries,2018
4.6. Key Industry Developments - Mergers, Acquisitions, and Partnerships, 2018
5. Global Revenue Cycle Management Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast - By Structure
5.2.1. In-house
5.2.2. Outsource
5.3. Market Analysis, Insights and Forecast - By Function
5.3.1. Claims & Denial Management
5.3.2. Medical Coding & Billing
5.3.3. Clinical Documentation Improvement (CDI)
5.3.4. Insurance
5.3.5. Others
5.4. Market Analysis, Insights and Forecast - By Type
5.4.1. Software
5.4.2. Services
5.5. Market Analysis, Insights and Forecast - By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
6. North America Revenue Cycle Management Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast - By Structure
6.2.1. In-house
6.2.2. Outsource
6.3. Market Analysis, Insights and Forecast - By Function
6.3.1. Claims & Denial Management
6.3.2. Medical Coding & Billing
6.3.3. Clinical Documentation Improvement (CDI)
6.3.4. Insurance
6.3.5. Others
6.4. Market Analysis, Insights and Forecast- By Type
6.4.1. Software
6.4.2. Services
6.5. Market Analysis, Insights and Forecast- By Country
6.5.1. U.S.
6.5.2. Canada
Continued...

Reasons to Purchase this Report:

o Comprehensive analysis of the Revenue Cycle Management Market growth drivers, obstacles, opportunities, and other related challenges.
o Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
o Identifies market restraints and boosters.
o Identifies all the possible segments present in the market to aid organizations in strategic business planning.

About Us:

Fortune Business Insights(TM) offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

Contact Us:
Fortune Business Insights(TM) Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Linkedin | Twitter | BLogs

This release was published on openPR.