Global Healthcare Revenue Cycle Management 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.
McKesson Corporation (US), Epic Systems Corporation (US), Cerner Corporation (US), Allscripts (US), General Electric Company (US), Quest Diagnostic (US), AdvantEdge Healthcare Solutions (US), Siemens Healthcare (Germany), CareCloud (US), 3M (US) and Acelerartech (US) are some of the leaders driving the Global Healthcare Revenue Cycle Management Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.
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.
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.
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The Global Healthcare RCM Market is segmented on the basis of deployment, component, product types, and end users.
On the basis of deployment, the market is segmented into on-premises, and cloud-based. On the basis of component, the market is categorized into services, and software. On the basis of product types, the market is divided into integrated software, and standalone software. On the basis of end users, the market is shared into hospitals, ambulatory services and others.
Considering the global scenario of the market, America dominates the global healthcare revenue cycle management (RCM) market owing to the high healthcare revenue, developed technology, adoption of the better management services and the presence of the leading players. North America holds the largest market share in the American healthcare revenue cycle management (RCM) market. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending increased by 5.8% during the last few years. Europe is the second largest market of the healthcare revenue cycle management (RCM), which is followed by Asia Pacific.
The presence of well-developed healthcare sector and high healthcare revenue, the healthcare revenue cycle management (RCM) market in Europe is growing at a CAGR of 12.4%. Asia Pacific is also witnessing a rapid growth in this market due to rapidly increasing awareness regarding the software & services available, increasing patient inflow and rising healthcare expenditure. The Middle East & Africa is expected to experience limited growth. The Middle East is dominating this market by holding the major share of the Middle East & African market owing to the well-developed technology and healthcare sector.
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