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Revenue Cycle Management Market 2020: Technical Signs Point Higher Growth Rate by 2023

02-05-2020 07:07 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Revenue Cycle Management Market 2020: Technical Signs Point

Revenue cycle management incorporates a comprehensive range of practices, tools, solutions, and techniques interrelated closely to information and operational healthcare services. This method uses preventive & responsive methods to deliver improved healthcare services while optimizing profits for healthcare facilities. Moreover, the process of RCM enable healthcare facilities to optimize revenues through claims processing that incorporates patients, healthcare providers, billing companies, and insurance payers.

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The revenue cycle management market was valued at $35,419 million in 2016, and is projected to reach at $85,008 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023. Integrated revenue cycle management represents the most attractive market segment that is expected to create lucrative opportunities for industry players.

The current business scenario has witnessed surge in the adoption of RCM in the developed and the developing regions, owing to the technological innovations in product offerings, rise in adoption for cloud-based solutions, and increase in application areas among end users. In addition, supportive growth through regulatory compliance and increase in healthcare spending are expected to supplement the RCM market growth during the forecast period.

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Growth in healthcare expenditure in the emerging countries, increase in market for outsourced RCM solutions, and technological advancements for workflow optimization fuel the demand for advanced healthcare systems, thereby creating lucrative opportunities for RCM market growth. However, high costs associated with RCM deployment and dearth of trained professionals are expected to hamper the RCM market growth.

The integrated RCM segment dominated in 2016, with around 62% revenue share of the global market. This is attributed to the improved healthcare infrastructure, increased healthcare-related expenditures to cater to the untapped markets among the developing nations, challenges faced during accounts receivable management & claims processing, and rise in need to reduce cycle time.

The report features the competitive scenario of the revenue cycle management market and provides comprehensive analyses of the significant growth strategies adopted by major players. The key players operating in the RCM market include Cerner Corporation, Eclinicalworks, LLC., Epic Systems Corporation, Gebbs Healthcare Solutions, GE Healthcare, Experian PLC., Mckesson Corporation, Quest Diagnostics Incorporated, Athenahealth, Inc., and Allscripts Healthcare Solutions, Inc.

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DRIVING FACTORS FOR THE MARKET

1. Supportive growth through regulatory compliance

2. Increasing healthcare spending

3. Growing demand for cloud-based solutions

MARKET RESTRAINTS AND OPPORTUNITIES:

1. High costs associated with RCM deployment

2. Scarcity of trained professionals

3. Increasing market for outsourced RCM Solutions

KEY QUESTIONS ANSWERED IN REVENUE CYCLE MANAGEMENT RESEARCH STUDY:

o What is the market growth rate of Revenue Cycle Management Market from 2017-2023?

o What will be the global market size of the market from 2017 to 2023?

o Who are the leading global manufacturing companies in the Revenue Cycle Management Market?

o What are the current trends and predicted trends?

o What are the challenges faced in the Revenue Cycle Management Market?

o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

o Which will be the anticipated growth rates for your own Revenue Cycle Management economy altogether and also for every segment inside?

o Which will be the Revenue Cycle Management application and types and forecast accompanied closely by producers?

o What are the conclusions of the Revenue Cycle Management Market report?

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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