Revenue Cycle Management Market Will Witness Growth Based On Ancillary Growth Of The Healthcare IT & Analytics Industry Till 2025:Grand View Research,inc.
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.
Browse full research report on Revenue Cycle Management
(RCM) Market: http://www.grandviewresearch.com/industry-analysis/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
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/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
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
- Saudi
Arabia
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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