Healthcare Revenue Cycle Management Market is Expected to grow at a CAGR over 12.2% from 2016 to 2027

Market Research Future has a cooked research report on global healthcare revenue cycle management (RCM) market.

The healthcare RCM assess, optimize, and manage all components in obtaining patient information, while creating a simplified, integrated workflow to ensure hassle free claims approval. It also helps in managing the financials of the organizations. It helps in managing the patient revenue cycle of hospital or other healthcare organizations. Favorable federal measures such as incentives for meaningful use, pressure to curb the surmounting healthcare cost, growing number of hospital & healthcare services, and inclination towards integrated healthcare system drives the market growth.

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The global healthcare revenue cycle management market is growing with a rapid pace; mainly due to lack of time, busy schedule, cost effective alternative option, consistently increasing primary, secondary and tertiary healthcare centers, consistently increase in healthcare infrastructure, increasing number of hospitals day by day, growing acceptance rate of RCM software, changing new terms and condition and regulatory rules, increasing pressure to curb healthcare cost and rapidly increasing patient inflow drive the market growth. It has also been observed that, increasing number of claims day by day and rising need for better management software also fuel the growth. Market has witnessed certain barriers such as, limited availability of well-trained employ, professionals, and high cost of the software may slow the market growth over the review period.

The global healthcare revenue cycle management market has registered strong growth in recent years and expected to registered lucrative growth in upcoming years. The market for healthcare revenue cycle management (RCM) is growing at a healthy pace. RCM market is predicted to grow at a healthy CAGR of 12.2% during the forecast period and is estimated to reach USD 43,500.0 million by 2027.

Global Healthcare Revenue Cycle Management Market- Regional Analysis

Based on region, the global healthcare revenue cycle management market is mainly divided into Americas, Europe, Asia Pacific, and Middle East & Africa. Americas dominates the global healthcare revenue cycle management (RCM) market due to high better healthcare infrastructure, healthcare revenue, and developed technology, adoption of the better management services and the presence of the leading players. Moreover, people in this region focus more on the health, which leads the increase in healthcare spending. To manage the increasing healthcare revenue, need for the healthcare RCM software and services has increased. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased 5.8% reaching USD 3.2 trillion and the healthcare spending in the United States increased in 2014 was, $9,532 per person. According to the American Hospital Association, in 2016, total number of all US Registered Hospitals was 5,564. Increasing healthcare income and increasing number of hospitals have boosted the growth of the market in Americas. In addition to this, increasing government support for the development of the advanced software and well developed healthcare sector have fuelled the market growth of Americas.

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Global Healthcare Revenue Cycle Management (RCM) market - Competitive Analysis

As the market has registered lucrative growth and expected to registered strong growth in upcoming years, many players are expected to enter into the market. It has also been observed that, existing players are seen expanding their business and became more aggressive in market. There is a strong rivalry among existing players have been observed.

Many major players in RCM such as: Quest Diagnostic (US), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Siemens Healthcare (Germany), General Electric Company (U.S.), Allscripts (U.S.), , AdvantEdge Healthcare Solutions (U.S.), CareCloud (U.S.), Acelerartech (U.S.), 3M (U.S.), McKesson Corporation (U.S.)

Recent Happenings in Healthcare Revenue Cycle Management Market: -

August, 2017- Allscripts is one of the leaders in healthcare information technology solutions that advances in clinical, financial, and operational results. Allscripts had signed an agreement to acquire the Enterprise Information Solutions unit from McKesson for $185 million. Furthermore, this strategic acquisition will advance Allscripts to offer high performing health information technology and solutions. However, McKesson is expanding its focus as a global leader in healthcare supply chain management solutions.

April, 2017- Siemens Healthcare Company has acquired Medicalis Corporation to expand its Population Health Management (PHM) portfolio. Medicalis is provider of EMR-integrated, this enterprise software is designed to tackle the Imaging Service Line’s top workflow challenges.

April-2016 - Mckesson Corporation Company had acquired Biologics, Inc. Biologics, Inc is a provider of oncology pharmacy services to providers and patients as well as solutions for manufacturers and payers.

April-2016 - Mckesson Corporation Company had acquired the pharmaceutical distribution business of UDG Healthcare Plc (UDG) based in Ireland and the U.K

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