The global revenue cycle management (rcm) market is expected to reach USD
65.2 billion by 2025, according to a new report by Grand View Research, Inc.
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.
The healthcare industry is extremely vast and its centralization will
help in synchronizing the entire work process along with providing economic
benefits. Almost all industries aim to achieve lean management and six-sigma
incorporation in their work culture to optimize resource usage and increase
efficiency.
Furthermore, development of value-added services, i.e., integration of
RCM system with other healthcare IT solutions such as practice management,
Electronic Health Record (EHR), Computerized Physician Order Entry (CPOE) is
anticipated to propel demand over the forecast period. For instance, Kareo,
Inc. are multiple software enlisted in their portfolio that find high
application in integrated solutions along with being used as standalone
options.
In depth research report on Revenue Cycle
Management (RCM) Market
Further Key Findings From The Study Suggest:
Services are expected to witness highest growth at a CAGR of over 11.0%.
In particular, denial management and accounts receivable services are expected
to be highly outsourced over the forecast period.
Integrated solutions are anticipated to be the fastest growing segment.
These can be used cohesively along with various other software to enhance
efficiency and communication across different departments.
The web-based segment is predicted to dominate the RCM market in 2025.
These services are more affordable than cloud-based solutions.
Hospitals and other end-users are expected to be the most lucrative
segments over the next 8 years. To further support the segment, physician
offices are also expected to contribute stable revenue, thereby promoting
overall market growth.
Asia Pacific followed by Latin America are expected to report fastest
CAGR for the next 9 years. Furthermore, regions in MEA such as Saudi Arabia,
Egypt, and Abu Dhabi, which are currently undergoing IT infrastructure
development are expected to present lucrative opportunities.
Major participants include McKesson Corporation; Epic Systems; Cerner
Corporation; CareCloud Corporation; Kareo, Inc.; The SSI Group, LLC; Quest
Diagnostics, Inc.; eClinicalWorks; athenahealth, Inc.; and Allscripts. Other
firms include AdvantEdge Healthcare Solutions, Anthelio Healthcare Solutions,
Greenway Health, LLC; and NextGen Healthcare
Grand View Research has segmented the global revenue cycle management
market on the basis of product, type, delivery mode, end-use, and region:
Global RCM Product Outlook (Revenue, USD
Million, 2014 - 2025)
·
Software
·
Services
Global RCM Type Outlook (Revenue, USD Million,
2014 - 2025)
·
Integrated
·
Standalone
Global RCM Delivery Mode Outlook (Revenue, USD
Million, 2014 - 2025)
·
On premise
·
Web-based
·
Cloud-based
Global RCM End-use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Physician
office
·
Hospitals
·
Diagnostic
Laboratories
·
Others
RCM Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Italy
o
Spain
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East
and Africa (MEA)
o
South Africa
o
Saudi Arabia
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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