Global Revenue Cycle Management Solutions Market Overview:
Revenue Cycle Management Solution provides the budgetary procedure, conveying therapeutic charging programming that medicinal services offices use to follow patient consideration scenes from registration and arrangement planning to the last payment of a balance. Expanding pattern for developing the journey of medical clinics, larger carriers and clinics to recognize new income streams, overseeing income cycles, however making them. This industry is looking through income which can be framed through the interoperability of Annual Wellness Visits (AWV), chronic care and service care transitions between physical and behavioral health services. Some of the players profiled in the study are R1 (United States), VRCM (India), Cognizant (United States), Cerner (United States), Optum (United States), Mednax (United States), Experian (United States), Visionary RCM Infotech (India), Netsmart (United States) and Availity (United States).
On the basis of geography, the market of Revenue Cycle Management Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment, the sub-segment i.e. Web Based will boost the Revenue Cycle Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Functions, the sub-segment i.e. Claim and Denial Management will boost the Revenue Cycle Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- The decrease in Reimbursement in the Healthcare Industry
- Reduction in Total Health Care Cost
- Increasing Expenditure in the Healthcare Industry
Influencing Trend
- Bi-Directional Information Flow
Restraints
- Absence of Knowledge and Skills in Workers
- Limitations in Technical Supports
Opportunities
- Increase Initiatives Taken By Governments for Implementation of the Revenue Cycle Management Solutions Has Become Strong Opportunity for Service Providers
Key Market Developments:
In Jan 2019, eMDs Inc. declared to the acquisition of Aprima Medical Software to create a world-class provider of fully integrated financial, administrative and clinical solutions, which are utilized by more than 63,000 providers and hospitals across the world.
In Mar 2019, GroupOne Health Source announced a rewards program that will include complimentary eClinicalWorks training, consulting, and optimization into the company’s current end-to-end healthcare revenue cycle management services.
Major players putting High focus on providing customized solutions to customers in order to remain competitive in revenue cycle management solutions. This industry seeing more number of niche players coming up rather than traditional players. To provide the best services to the customers, companies are spending more on healthcare analytics-based solutions.
Target Audience:
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Revenue cycle management solutions providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Revenue Cycle Management Solutions market on the basis of product [Integrated Solutions and Standalone] , application [Physicians, Hospitals, Laboratories and Other End Users (Pharmacies, Emergency Medical Centers)], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Revenue Cycle Management Solutions market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Revenue Cycle Management Solutions industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Kareo Inc. (United States), Epic Systems Corporation (United States) and The SSI Group LLC (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Revenue Cycle Management Solutions market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.