New York, According to a new market research report published by Global Insight Services “Revenue Cycle Management 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 system that helps businesses manage the financial aspects of customer interactions. The goal of RCM is to optimize the revenue cycle so that businesses can increase efficiency and improve profitability.
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Key Trends
There are a few key trends in Revenue Cycle Management technology.
One is the move to cloud-based solutions. This is in response to the needs of healthcare organizations to be able to access their data from anywhere and to have it backed up in a secure location.
Another trend is the use of artificial intelligence and machine learning to automate tasks such as coding and billing. This is helping to improve accuracy and efficiency in the revenue cycle.
Key Drivers
The key drivers of the Revenue Cycle Management market are government regulations, healthcare reforms, and the shift from volume-based to value-based reimbursement.
The government regulations are designed to improve the quality of patient care and contain the costs of healthcare. The Affordable Care Act (ACA) is the most notable example. The ACA includes provisions that impact every stage of the revenue cycle, from patient acquisition and registration to billing and collections.
The healthcare reforms are designed to improve the quality of patient care and contain the costs of healthcare.
Market Segments
The Revenue Cycle Management Market is segmented by type, component, deployment mode, end user, and region. On the basis of type, the market is categorized into integrated and standalone RCM. On the basis of components, the market is segmented into software and services. On the basis of deployment mode, it is segmented into cloud-based and on-premise deployment. On the basis of end user, the market is divided into hospitals, physicians, and diagnostic & ambulatory care centers. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Revenue Cycle Management Market includes players such as Cerner Corporation, eClinicalWorks, Epic Systems Corporation, GeBBSHealthcare Solutions, GE Healthcare, Experian PLC, Mckesson Corporation, Quest Diagnostics Incorporated, Athenahealth, Inc. and Allscripts Healthcare Solutions, Inc.
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Reasons to buy Revenue Cycle Management 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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