According to the report, “Revenue Cycle Management Market Size, Share & Trends Analysis Report By Product (Software, Service), By Type (Integrated, Standalone), By Delivery Mode, By Region, And Segment Forecasts, 2020－2027”, the growing use of revenue cycle management for their features such as flexibility, enhanced security, and cost-effective properties are expected to remain pivotal during the market growth.
The rise in spending on advanced software infrastructure and designs is likely to encourage a significant market growth in the coming years. Moreover, the overheads for outsourcing is likely to result in high adoption for revenue cycle management software. Emergence of IoT technology, blockchain and automation, and demand for competency is more likely to result in market development in the coming years.
In addition, the launch of improved versions of existing software in healthcare settings according to the consumer needs is further anticipated to enhance the market developments in the coming years. Moreover, the rise in growth of market segments is likely to result in the development of resources and deployment of revenue cycle management.
Revenue Cycle Management Market Report Highlights:
The market is anticipated to be expand significantly owing to increased adoption of RCM systems in healthcare settings.
The software segment accounted for a major share in 2019 with a market size of around USD 39.0 billion due to increasing demand for HIT systems.
Integrated RCM solutions held the largest market share of 69.0% in 2019, as they are cost -effective as compared to standalone solutions.
North America dominated the revenue cycle management market in 2019 owing to the availability of favorable reimbursement policies, presence of well-developed healthcare infrastructure, and growing adoption of RCM solutions and their long – term benefits.
The companies are focusing on strategic collaborations and introduction of new products to survive the market competition.
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Grand View Research has segmented the global revenue cycle management market based on product, type, delivery mode, end use, and region:
Revenue Cycle Management Product Type Outlook (Revenue, USD Million, 2016 － 2027)
Software
Services
Revenue Cycle Management Type Outlook (Revenue, USD Million, 2016 － 2027)
Integrated
Standalone
Revenue Cycle Management Delivery Mode Outlook (Revenue, USD Million, 2016 － 2027)
On-premise
Web-based
Cloud-based
Revenue Cycle Management End – use Outlook (Revenue, USD Million, 2016 － 2027)
Physician Offices
Hospitals
Diagnostic Laboratories
Others
Revenue Cycle Management Regional Outlook (Revenue, USD Million, 2016 － 2027)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Russia
Asia Pacific
China
Japan
India
Singapore
South Korea
Australia
Latin America
Mexico
Brazil
Argentina
MEA
South Africa
Saudi Arabia
UAE
List of Key Players for Revenue Cycle Management Market:
Allscripts Inc;
Cerner Corporation
NextGen Healthcare Information Solution LLC
Epic Systems Corporation
Change Healthcare
McKesson Corporation
CareCloud Corporation
Experian Health
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