According to a new market research report published by Global Insight Services” Revenue Cycle Management/RCM Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Revenue Cycle Management (RCM) is a term used to describe the process that a company uses to manage its income and expenses. The goal of RCM is to optimize the company’s cash flow and profitability.
RCM begins with creating accurate invoices and ends with collecting payment from the customer. In between, there are many steps and tasks that must be completed in order for the process to run smoothly.
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Key Players
The “Global Revenue Cycle Management (RCM) Market” major players are Cerner Corporation, Eclinicalworks, LLC, Epic Systems Corporation, Gebbs Healthcare Solutions, GE Healthcare, Experian PLC, Mckesson Corporation, Quest Diagnostics Incorporated, Athenahealth, Inc. and Allscripts Healthcare Solutions Inc.
Key Trends
There are several key trends in Revenue Cycle Management (RCM) technology. One is the move toward cloud-based solutions. This is in part due to the fact that cloud-based solutions are generally more cost-effective than on-premise solutions. They are also easier to implement and manage.
Another key trend is the use of artificial intelligence (AI) and machine learning. These technologies are being used to automate various tasks in the RCM process, such as claims processing and denials management. AI and machine learning can help reduce the time and cost associated with these tasks.
Key Drivers
There are several key drivers of the Revenue Cycle Management (RCM) market. The first driver is the need for healthcare organizations to improve their financial performance. In order to do this, they need to optimize their revenue cycle management processes. This includes improving claims management, denial management, and collections.
Another driver of the RCM market is the increasing complexity of the healthcare system. This complexity is due to the increasing number of payers, providers, and patients. This complexity makes it difficult for healthcare organizations to manage their revenue cycles effectively.
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Market Segments
The Revenue Cycle Management/RCM Market is segmented by product, deployment, end-user and region. By product the market is classified into integrated , standalone revenue cycle management, by deployment the market is bifurcated into web based, cloud based, on-premises based, by end-user the market is divided into Hospitals, General Physicians, Labs and Others and region wise the market is segmented into North America, Europe, Asia Pacific, Rest of the World.
Reasons to buy Revenue Cycle Management/RCM Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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