Mid-revenue Cycle Management/ Clinical Documentation Improvement Market to Surpass with CAGR of 6.6% and Garner Revenue of $4.55 billion in 2020 to 2027
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According to this latest publication from Meticulous Research, the mid-revenue cycle management/clinical documentation improvement market is expected to grow at a CAGR of 6.6% from 2020 to reach $4.55 billion by 2027. The rising healthcare expenditure, growing need to manage unstructured healthcare data, and alterations in revenue due to medical billing errors are the factors majorly driving the mid-revenue cycle management/clinical documentation improvement market. The changing scenario in developing economies is driving the adoption of healthcare IT solutions, which is expected to generate market growth opportunities during the forecast period. However, IT infrastructure constraints in developing economies limit the market’s growth. Moreover, data security concerns also hamper the market’s growth to an extent.
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Scope of the Report:
Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, by Product and Service
Clinical Documentation Improvement
Mid-Revenue Cycle Management/Clinical
Documentation Improvement Market, by End User
Mid-Revenue Cycle Management/Clinical
Documentation Improvement Market, by Geography
Rest of Europe (RoE)
Australia & New Zealand
Rest of Asia-Pacific (RoAPAC)
Rest of Latin America (RoLATAM)
Middle East & Africa
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In 2020, based on product, the solutions segment is poised to account for the largest share of the overall market. The capability to improve revenue cycle productivity by eliminating coding errors and manual coding practices and their compatibility with hospital management solutions are the major drivers for this segment.
In 2020, based on end user, the healthcare providers segment is estimated to account for the largest share of the overall market. The growing adoption of revenue cycle solutions for simplifying billing collection cycles, establishing communication between EHRs and accounting systems, the ability of revenue cycle solutions for preserving and managing patient billing records are some of the factors driving this segment.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S., Canada, and Mexico), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Indonesia, Australia & New Zealand, Japan, and RoAPAC), Latin America (Brazil, Argentina, Chile, Rest of Latin America), and the Middle East & Africa.
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The key players operating in the mid-revenue cycle management/clinical documentation improvement market are nThrive, INC. (U.S.), Dolbey Systems, Inc. (U.S.), 3M Company (U.S.), UnitedHealth Group Incorporated (U.S.), Streamline Healthcare Solutions, LLC (U.S.), Vitalware, LLC (U.S.), Iodine Software LLC (U.S.), Craneware PLC (U.K.), Epic Systems Corporation (U.S.), ChartWise Medical Systems, Inc. (U.S.), Nuance Communication, Inc (U.S.), and Cerner Corporation (U.S.).
Key questions answered in the report-
Which are the high growth market segments in terms of product & service, end user, and region?
What was the historical market for mid-revenue cycle management/clinical documentation improvement across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, opportunities, and challenges in the mid-revenue cycle management/clinical documentation improvement market?
Who are the major players in the mid-revenue cycle management/clinical documentation improvement market?
How is the competitive landscape, and who are the market leaders in the mid-revenue cycle management/clinical documentation improvement market?
What are the recent developments in the mid-revenue cycle management/clinical documentation improvement market?
What are the different strategies adopted by the major players in the mid-revenue cycle management/clinical documentation improvement market?
What are the geographical trends and high growth regions/countries?
Related report - Healthcare Quality Management Market
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