What is Healthcare Revenue Cycle Management Software - Market?
Healthcare RCM programs ensure that medical practitioners get the most out of their money. Healthcare revenue cycle management (HCRM) is a financial mechanism used by healthcare institutions to monitor revenue collected from patients from the preparation of appointments to the actual payment of medical bills. Healthcare RCM firms monitor a patient's path from admission to account receivables changes, which is defined by a cycle of experiences. Through streamlining the healthcare revenue cycle management process, a comprehensive suite of healthcare revenue cycle management tools benefits healthcare providers. To boost the billing period and refine the patient-to-payment path, revenue cycle healthcare includes continuous supervision. RCM solutions provide for payment-induced challenges such as regulatory compliance, slow billing, claim management, interoperability among others.
The market study is being classified, by Application (Claims & Denial Management, Medical Coding & Billing, Patient Insurance Eligibility Verification and Payment Remittance) and major geographies with country level break-up.
Cerner (United States), McKesson Corporation (United States), GE Healthcare (United States), eClinicalWorks (United States), GeBBs Healthcare Solutions Inc. (United States), Conifer Health Solutions (United States), Quest Diagnostics (United States), Athenahealth (India), Allscripts Healthcare Solutions (United States) and EPIC Systems (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Experian PLC (Ireland), R1 RCM (United States), OSPLabs (United States), Constellation Software (Canada), The SSI Group LLC (United States) and Nthrive (United States).
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Healthcare Revenue Cycle Management Software - market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Healthcare Revenue Cycle Management Software - market by Type, Application and Region.
On the basis of geography, the market of Healthcare Revenue Cycle Management Software - 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Payment Efficiency and Enhanced Regulatory Compliance
- Demand for Cloud Based RCM Solutions
- Revenue Loss as a Result of Billing Errors
- Implementation of upcoming Technologies such as Block Chain & Artificial Intelligence (AI)
- Digitization in Payment Systems Across the Globe
- Cyber Security and Chances of Information Leakage
- Implementation Across Emerging Regions
- Shift from Traditional Approach to Software based Payment Platform
- Fierce competitive pressures
Market Leaders and some development strategies
On 19th November, 2020 - Clearlake Capital Signed a Definitive Agreement to Acquire Technology Division of nThrive (Leading Healthcare Revenue Cycle Management Solution Provider). This Acquisition is Set to Expand ClearLake’s Client Base across RCM Portfolio., On 8th May, 2020 - Centauri Health Announced its Acquisition of AppRev (Healthcare Business Intelligence Company), this Acquisition is Aimed to and Enhance Centauri’s Advance Healthcare Revenue Cycle Optimization Capabilities.
On 27th February, 2018 - eClinicalWorks Launched New Cloud-Based Platform for Acute Care EHR & Revenue Cycle Management, this Recently Introduced Technology Would Allow Data to Flow Seamlessly Between Ambulatory and Acute Care Settings. and On 18th March, 2018 - Greenway Health Released Customizable Revenue Cycle Tool, called “GRS Select”, Specially Built to Help Healthcare Facilities Recoup Earnings A Year After COVID-19 Pandemic This Would Increase Revenue Cycle Efficiency In The Most Critical Areas.
Key Target AudienceHealthcare Revenue Cycle Management Software Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase