Mid-Revenue Cycle Management/Clinical Documentation Improvement Market Will Grow at a CAGR of 7.9% - 3M Company (US), Optum (US), Nuance (US), M*Modal (US), nThrive (US), Dolbey Systems (US), Streamline Health (US)

The Mid-Revenue Cycle Management/Clinical Documentation Improvement Market research report examines through and through market designs alongside the parts driving the market. Moreover, it improves the unique cycle by understanding the exploration procedures dependent on the item, division, assessing, and scattering. Finally, the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market research report additionally gives data about essential cooperation and association acquiring ubiquity and boosting the market development.

The Mid-Revenue Cycle Management/Clinical Documentation Improvement Market research report covers an extensive perspective available by giving all market information under one rooftop. The report fuses the overall information of the worldwide Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, including market grouping, definition, and applications. Besides, it gives information on a few elements like drivers, limitations, and difficulties in the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market. Also, the report offers verifiable and cutting-edge information like expense income, request and supply data, production network worth, requests, and more.

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The mid-revenue cycle management/clinical documentation improvement market is expected to reach USD 4.5 billion by 2023 from USD 3.1 billion in 2018, at a CAGR of 7.9%.

Prominent players in this market are

3M Company (US),
Optum (US),
Nuance (US),
M*Modal (US),
nThrive (US),
Dolbey Systems (US),
Streamline Health (US),
Vitalware (US),
Chartwise (US),
Craneware (US),
Epic Systems (US),
Cerner (US),
eZDI Inc. (US),
Iodine Software (US),
Flash Code (US),
and TruCode (US).

Market growth is largely driven by the increasing utilization of mid-RCM solutions to reduce healthcare costs, check the loss of revenue due to medical billing and coding errors, resolve issues raised by the decline in reimbursement rates, manage ever-increasing amounts of unstructured data, and maintain regulatory compliance. On the other hand, IT infrastructural constraints in developing countries, a scarcity of skilled IT professionals, and the risks associated with HCIT solutions in terms of data security & privacy may restrain the growth of this market to a certain extent.

“The solutions segment accounted for the largest share of the market.”

In 2017, solutions accounted for the largest share of the market. The large share of the solutions segment can be attributed to the benefits offered by mid-revenue cycle solutions when they are integrated with EHRs/EMRs, encoder systems, voice/text/speech recognition software, CDI, transcription systems, and other hospital information management systems. Moreover, these solutions also eliminate the duplication of administrative work of entering selected codes into each record. They also decrease the potential for data documentation, charge capture, and coding errors, and improve the overall mid-revenue cycle process.

“The healthcare providers segment is projected to witness the highest growth during the forecast period.”

The healthcare providers segment is projected to grow at the highest rate over the next five years. Growth in the mid-revenue cycle management solutions market for healthcare providers can be attributed to the significant demand for these solutions from healthcare providers for improving data accuracy in clinical documentation, maximizing hospital revenues by minimizing coding errors, and shortening the claims reimbursement cycle. Revenue losses due to medical billing and coding errors, declining reimbursement rates, and the need to reduce the rising healthcare cost are other key factors supporting the growth in the demand for these solutions.

“APAC is projected to witness the highest growth during the forecast period.”

The APAC region is projected to grow at the highest rate over the next five years. The improving healthcare infrastructure and the rising healthcare insurance coverage and medical tourism are supporting the growth of the mid-revenue cycle management solutions market in the APAC.

Break of primary participants was as mentioned below:

By Company Type – Tier 1–30%, Tier 2–50% and Tier 3–20%
By Designation – C-level–45%, Director Level–30%, Others–25%
By Region – North America–65%, Europe–15%, Asia Pacific–10%, Rest of the World–10%

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This report provides insights on the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by top players in the market. The report analyzes the global mid-revenue cycle management/clinical documentation improvement market by product & service, end user, and region.

Product Development/Innovation: Detailed insights on upcoming trends and product launches in the market

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various mid-revenue cycle management/clinical documentation improvement solutions across regions

Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market

Competitive Assessment: In-depth assessment of growth strategies and products of leading players in the mid-revenue cycle management/clinical documentation improvement market

Mid-Revenue Cycle Management/Clinical Documentation Improvement Market Report opportunities

1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market.

2. Market Penetration: Comprehensive information on the product portfolios of the top players in the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market.

3. The key findings and recommendations highlight crucial progressive industry trends in the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, thereby allowing players to develop effective long term strategies

4. To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Mid-Revenue Cycle Management/Clinical Documentation Improvement Market

5. The report offers market share appraisals for regional and global levels

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