Global Revenue Cycle Management Healthcare Market to reach $100bn by 2024

The research report “Healthcare Revenue Cycle Management Market Size By Product (Integrated, Standalone), By Deployment (On-Premise, Cloud Based), By Component (Services, Software), By End User (Hospitals, Physicians, Diagnostic & Ambulatory Care Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2016 - 2024” by Global Market Insights, Inc. says Healthcare Revenue Cycle Management Market size is set to register a CAGR of 11% over the period of 2016-2024.

Healthcare revenue cycle management market size is poised to witness a remarkable growth over the coming seven years. HRCM is recognized as the most important entity in the healthcare technology infrastructure. Revenue cycle management is a vital part of any business wherein the organization favors outsourcing of financial accounts. In this case, HRCM solutions can prove helpful to save both time and money, which in turn is augmenting healthcare revenue cycle management industry. HRCM systems provide integrated solutions to eliminate the billing errors and complex medical coding, which will significantly boost global industry trends.

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The convergence of healthcare sector with cloud-based systems has come up to be a perfect combination in providing effective management. Cloud-based solutions held over 75% of the overall industry share and is foreseen to surpass USD 80 billion by 2024. In comparison to on premise systems, the cloud-based systems are less expensive, as they eliminate the IT hardware and IT support staff costs.

In 2015, services dominated the component segment of healthcare revenue cycle management market by covering more than 63% of the global revenue contribution and is likely to generate a revenue of USD 70 billion by 2024. Periodic upgradation in software components will also contribute substantially toward the industry growth over the coming timeframe.

Browse key industry insights spread across 110 pages with 104 market data tables & 9 figures & charts from this 2017 report Healthcare Revenue Cycle Management Market in detail along with the table of contents at:

https://www.fractovia.org/news/industry-research-report/healthcare-revenue-cycle-management-market

The key geographical insights are as mentioned below:

U.S. Healthcare Revenue Cycle Management Market is forecasted to reach $38 billion driven by favorable government norms that will transform US healthcare systems to uplift the healthcare revenue cycle management industry.

Increasing deployment of cloud-based systems by the medical fraternity to propel Japan healthcare revenue cycle management market growth to reach up to $ 6 billion.
China Healthcare Revenue Cycle Management Market is driven by rising health insurance demand due to growing prevalence of chronic diseases and rising geriatric population to boost the regional growth, forecast to hit $ 5 billion by 2024.

Standalone and integrated are the two prominent products of healthcare revenue cycle management market. Integrated products led the industry share by accounting for 85% of the total volume in 2015 and are liable to register noticeable growth rate, owing to the growing preference for integrated products by most of the physicians. Convenient payment mode options and health care reimbursements by the government will spur healthcare revenue cycle management industry.

Considering the end-use industry, healthcare revenue cycle management industry is mainly divided into physicians, hospitals, and diagnostic & ambulatory care centers. Physicians covered over 40% of the global revenue share in 2015 and is poised to grow at an annual rate of 12.3% over the period of 2016 to 2024. Fast and smooth billing processes are likely to help physicians focus on quality service and care.

Key players accumulating major healthcare revenue cycle management industry share include CareCloud, Cerner, Athenahealth, GE Healthcare, Allscripts, Experian, Siemens, McKesson, and Quest Diagnostics.

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Browse Related Reports:

Healthcare Analytics Market Size By Product (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Operations Management, Financial Management, Population Health Management, Clinical Management), By End-Use (Hospitals, Clinics, Physicians, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/healthcare-analytics-market

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