Factors such as regulatory compliance encourage the use of RCM solutions, government support, process improvements in health organizations brought about by RCM, and the increasing number of patients and subsequent growth in insurance coverage are expected to drive the growth of the revenue cycle management market.
The global revenue cycle management market To Grow at a CAGR of +12% by 2021
The Asian market has witnessed significant growth due to the increasing prevalence of chronic diseases showing a subsequent growth in demand for healthcare insurance, increasing demand for better healthcare services in developing economies such as India and China, process improvements in healthcare organizations, and increasing focus of international players on emerging markets.
The healthcare system is witnessing a paradigm shift primarily due to the changing dynamics of the business models.
These changing dynamics of the hospital industry in developed regions is expected to involve centralization and digitalization of the back-end processes, thereby demanding the implementation of revenue cycle management, which is anticipated to positively affect the market growth.
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In this report, the global revenue cycle management market is segmented on the basis of product, component, deployment, end user, and region. On the basis of component, the revenue cycle management market is divided into services and software.
The services segment is expected to account for the largest share of the revenue cycle management component market in 2016. Factors such as the dependence of healthcare organizations on consulting, training, maintenance services, and regular updating of software are contributing to the growth of this segment.
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From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and sub segments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and threats), winning imperatives, and burning issues.
The report also offers market sizes and data on the growth of various segments in the industry. It focuses on emerging and high-growth segments, high-growth regions, and initiatives of governments.
The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the revenue cycle management market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future.
The abovementioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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