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Healthcare Revenue Cycle Management Market By Product (Services, Software), By Type (Integrated, Standalone), By Delivery Mode (On Premise, Web Based, Cloud Based) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The healthcare revenue cycle management market is set to grow at a compounded annual growth rate of 11.8% during the forecast period from 2018 to 2026. Rapid growth in the healthcare domain and IT segment provides a positive boost for the healthcare revenue cycle management market's growth. Tasks achieved by the installation of revenue cycle management solutions include fewer errors in medical billings, claim remittance, patient access management, and revenue recovery.

Market Synopsis

The software market is driven by rapid growth in the IT industry and a high degree of customization.

Currently, software solutions are reigning in the product segment for healthcare revenue cycle management. The major parameters for its magnificent growth are rampant growth in the IT healthcare segment in the last decade and a high degree of customization provided to perform daily operations related to revenue cycle management. Services solutions are gaining popularity on account of the impressive growth pertaining to outsourcing services in revenue cycle management among numerous market participants.

Increasing adoption by small clinics and lower maintenance costs propel the standalone solutions market.

In the present scenario, standalone solutions are dominating the type segment of the healthcare revenue cycle management market. The major factors responsible for its growth are its increasing adoption by small clinics and the low maintenance costs incurred.

Integrated solutions will be the fastest-growing market during the forecast period owing to their rising popularity in multispecialty hospitals and research centers. The ability to streamline administrative efforts and medical billings, as well as provide data access to multiple users, drive the growth of the integrated solutions market.

Ease of revenue operations through a web browser and supervision by a third party will drive the web-based delivery mode market.

Web-based solutions are dominating the delivery mode segment of the healthcare revenue cycle management market. The major attributes responsible for its dominance are the ease of revenue operations performed via web browser and complete supervision by third parties. Cloud-based delivery will be the fastest-growing market due to the vast storage capacity provided for maintaining electronic health records.

Higher accessibility and a rising preference for integrated systems propel the CDM-based delivery mode market. On-premises delivery modes usually have a high up-front cost on account of the large initial investment related to installation. However, the ownership cost is negligible, with a minuscule subscription fee related to software and services related to healthcare revenue cycle management.

The presence of a well-developed healthcare infrastructure will drive the healthcare revenue cycle management market in North America.

In the present scenario, North America is leading the geographical segment for healthcare revenue cycle management. The major factors responsible for the impressive growth in North America are the presence of a well-developed healthcare infrastructure and an IT industry specializing in providing software and services in the healthcare domain. The presence of key players such as AthenaHealth, Allscripts Healthcare Solutions, Inc., and GE Healthcare provides impetus to the healthcare revenue cycle management market in North America.

Proactive government initiatives regarding the adoption of revenue cycle management by healthcare agencies and stringent norms sanctioned for maintaining electronic health records (EHR) of patients drive the market's growth in Europe. Latin America, the Middle East & Africa, and Asia Pacific will showcase outstanding growth during the forecast period from 2018 to 2026 on account of developing healthcare infrastructure and a burgeoning requirement for revenue cycle management software and services to minimize the frequently occurring medical billing errors.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Healthcare revenue cycle management market segmentation is as follows:

Companies providing services and software related to the healthcare revenue cycle management market are Allscripts Healthcare Solutions, Inc., Vizient, Inc., AthenaHealth, Care Cloud Corporation, Cerner Corporation, GE Healthcare, EPIC Systems Corporation, Gibbs Healthcare Solutions, McKesson Corporation, NextGen Healthcare Information Solution LLC.

Key questions are answered in this report.

  • Who are the key companies specializing in the healthcare revenue cycle management market?
  • What services and software are currently being employed in the healthcare revenue cycle management market?
  • Which is the leading and fastest-growing product segment in the market?
  • Which is the leading and fastest-growing type of segment in the market?
  • Which delivery mode is the leading and fastest-growing in the market?
  • Which is the leading and fastest-growing geographical region in the market?

Frequently Asked Question:

The market for Healthcare Revenue Cycle Management Market is expected to reach USD$ XX Mn in 2026.

The Healthcare Revenue Cycle Management Market is expected to see significant CAGR growth over the coming years, at 11.8%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Healthcare Solutions, Inc., Vizient, Inc., AthenaHealth, Care Cloud Corporation, Cerner Corporation, GE Healthcare, EPIC Systems Corporation. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2018
Category:  Healthcare
Report ID:   59488
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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