The global revenue cycle management market has accounted to USD 51.6 billion in 2016, growing at a CAGR of 12.7% from 2017 to 2024, is expected to reach USD 133.6 billion by 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024
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Global Revenue Cycle Management (RCM) Market By Product Type (Integrated RCM, Standalone RCM), By Stage (Front Office, Mid Office, Back Office), By End User (Hospitals, General Physicians, Labs, Others), By Deployment (Web-based, On-premise, Cloud-based), By Component (Software, Services), By Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) –Industry Trends and Forecast to 2024 Request for Sample Report @ databridgemarketresearch.com/request-a-sample/?dbmr=global-revenue-cycle-management-rcm-market
Revenue cycle management (RCM) Market is used by healthcare providers to scale and manage the process of healthcare billing and reimbursements. This is achieved by improving the process of claims management, speeding explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and by automating processes.
The RCM solution manages the patient’s bills from entering the hospital to reimbursement of claims.
the revenue cycle management market is segmented on the basis of product type, deployment, component, stage, end-user, and geography.
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Based on type the market is further segmented into integrated RCM and standalone RCM.
On the basis of product type RCM solutions are segmented into standalone and integrated RCM.
Based on end-users the market is segmented into hospitals, laboratories, and physicians and others.
Based on geography, the market is segmented into five geographical regions:
- North America
- South America
- Middle East and Africa.
The geographical regions are further segmented into 29 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and others.
The North American revenue cycle management market is steadily progressing owing to factors, such as decreasing reimbursement in healthcare industry, reduction of overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by healthcare industry especially made on information technology.
Some of the major players operating in this market are
- McKesson Corporation
- Cerner Corporation
- Quest Diagnostics
- Athena Health, Inc.
- CareCloud Corporation
- The SSI Groups, Inc.
- GE Healthcare
- Epic Systems
- Siemens Healthcare
- Kareo, Inc.
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