The US Revenue Cycle Management Market Worth $220.45 Billion by 2028, Industry Analysis Report, Regional Outlook, & Competitive Market Share & Forecast 2023-2028 - Arizton

According to Arizton's latest research report, the U.S. revenue cycle management market will grow at a CAGR of 11.39% during 2022-2028.

The report considers the present scenario of the U.S. revenue cycle management market and its market dynamics for 2023-2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.

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Revenue cycle management (RCM) is an essential process in the healthcare industry that encompasses various administrative and financial tasks to ensure the smooth flow of revenue from patient care services. It involves a patient's interaction with a healthcare provider, from appointment scheduling to payment collection. RCM is crucial in optimizing financial performance, streamlining operations, and ensuring compliance with regulatory requirements.

The cloud-based revenue cycle management system is a technology that has been growing in the US healthcare field in the past decade. This technology describes the process of improving and managing billing operations that healthcare providers rely upon to receive payments. Patient data is collected and organized, often electronically, to keep track of vital processes such as patient demographics, medical histories, insurance eligibility, claim filing, and payment collections. In a digital transformation of healthcare billing, more US providers are adopting cloud-based RCM.

To remain competitive in the RCM market, vendors must provide a comprehensive suite of products and services and superior customer service. They must also be able to quickly adapt to changes in the healthcare industry and provide innovative solutions. The US RCM market plays a vital role in the financial operations of healthcare organizations. As healthcare reimbursement processes become increasingly complex, the demand for effective RCM solutions grows.

Development of Automation in Revenue Cycle Management Market

Automation in RCM is a vital tool increasingly used by businesses of all sizes to save time and money. Automation is implementing technology to streamline and simplify a process or set of processes. When automated, revenue cycle management refers to the various systems and software applications used to manage a business's financial transactions, from revenue generation to customer payment. Through automation, businesses have been able to speed up and simplify the revenue cycle while resulting in cost savings and improved satisfaction with customers and partners.

Value-Based Reimbursement Is Gaining Momentum in Healthcare

Health systems have gradually started to adopt more contracts implementing value-based healthcare. This means health plans will have the flexibility to negotiate, implement, and administer various contracts with healthcare providers and offer corresponding benefit plans. Effective value-based contracts may benefit patients' health plans and reduce medical expenses by avoiding costly hospitalizations and services. However, there is slow progress in developing essential capabilities for value-based healthcare, such as clinician compensation, tools for decision-making, and care models.

The shift toward value-based reimbursement is a significant trend in the US RCM market. Various factors drive this trend and has substantial implications for how healthcare providers manage their financial processes. Here's a detailed description of how the shift toward value-based reimbursement is a prominent trend in the RCM market.

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Key Company Profiles
Change Healthcare
Epic Systems Corporation
Experian
MCKESSON CORPORATION
Oracle
R1 RCM
Veradigm
Access Healthcare
Acrologic Business Solutions
AdvancedMD
Advantum Health
AllianceMed
BellMedEx
Bizmatics
CareCloud
Cognizant
Coronis Health
CorroHealth
The Craneware Group
CureMD Healthcare
Data Marshall
DrChrono
EHealthSource
Greenway Health
InSync Healthcare Solutions
IntelliRCM
Kareo
Medical Billers and Coders
MGSI
MRO
NXGN Management
OSP
Persistent Systems
PMMC
Promantra
Quadax
QWay Healthcare
Revele
RevenueXL
Right Medical Billing
Vee Technologies
Waystar

Market Segmentation
Component Type: Post-cycle, Pre-cycle, and Mid-cycle
Delivery Mode: Cloud-based and On-premises
Solution Type: Integrated and Standalone
Service Type: Ambulatory Care, Acute Care, and Post Acute Care
End-user: Hospitals, Physician Offices, and Others

Key Questions Answered in the Report      
How big is the U.S. revenue cycle management market?
What is the projected growth rate of the U.S. revenue cycle management market?
Who are the key players in the U.S. revenue cycle management market?
What are the rising U.S. revenue cycle management industry trends?
Which service type holds the most significant U.S. revenue cycle management market share?

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Check the detailed table of contents of the report @ https://www.arizton.com/market-reports/us-revenue-cycle-management-market?details=tableOfContents

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This release was published on openPR.