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Healthcare Revenue Cycle Management Market

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Revenue cycle management or RCM is a combination of revenue generation, payment, and claims processing.
Future of the Healthcare Revenue Cycle
Management Market Adds New Dimension to
Innovations till 2026, GE Healthcare
Revenue cycle management or RCM is a combination of revenue generation, payment, and
claims processing. In layman’s terms, it is a healthcare system’s financial system. Its
components include all clinical and administrative functions that consist of the management,
collection, and capture of revenue gained from patient service. It is primarily the entire lifespan
of a patient account in a healthcare organization. Revenue cycle management incorporates the
use of specific technological tools to track claims throughout patient’s lifecycle, ensuring that
the payments are collected without any hurdle, and claims are addressed successfully. RCM
tools let healthcare providers do the billing and identify issues quickly, thereby allowing for the
secure stream of revenue. A system that runs efficiently thwarts rejection of claims and
preserves an efficient and transparent billing process. Revenue cycle management also includes
everything from deciding on patient’s insurance adequacy and eligibility to regulating claims
through ICD-10.
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HRCM or healthcare revenue cycle management is an important architecture in a healthcare
infrastructure. Healthcare organizations employ EHR or Electronic Health Records and
computerized performance management to save costs related to the maintenance of their books.
This is achieved by lessening the total number of claims denied and by facilitating individuals
for adopting online payment platforms. The advent of superior automated elucidations has
assisted front desk and clinical staffs, coders & billers, and providers to boost their performance
levels in addition to saving time. With the growing business, patients are adopting more than a
few payment gateways to make their payments against the services received at hospitals or
clinics. Multiple advantages will propel the growth of healthcare revenue cycle management
market in the near future.
Integrated solutions is likely to be the primary growth segment in the healthcare revenue cycle
management market owing to improved operational competences and smooth economic and
clinical structure with better management of treatments, outcomes and most importantly, costs
related to these treatments.
Report includes chapters which deeply display the following deliverable about industry :
• Healthcare Revenue Cycle Management Market Research Objective and Assumption
• Healthcare Revenue Cycle Management Market Purview - Report Description, Executive
Summary, and Coherent Opportunity Map (COM)
• Healthcare Revenue Cycle Management Market Dynamics, Regulations, and Trends Analysis Market Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system
Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Healthcare Revenue Cycle Management Market, By Regions
• Healthcare Revenue Cycle Management Market Competition by Manufacturers including
Production, Share, Revenue, Average Price, Manufacturing Base Distribution, Sales Area and
Product Type.
• Healthcare Revenue Cycle Management Market Manufacturers Profiles/Analysis including
Company Basic Information, Manufacturing Base and Its Competitors.
• Healthcare Revenue Cycle Management Market Manufacturing Cost Analysis including Key
Raw Materials and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market
Positioning and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Healthcare Revenue Cycle Management Market Forecast including Production, Consumption,
Import and Export Forecast by Type, Applications and Region.
• Research Findings and Conclusion
Healthcare Revenue Cycle Management Market Taxonomy
On the basis of deployment, the global healthcare RCM market is classified into:
On-Premise
Cloud-Based
Web-Based
Others
On the basis of component, the global healthcare RCM market is classified into:
Software
Services
On the basis of product type, the global healthcare RCM market is classified into:
Standalone
Integrated
Others
On the basis of end user, the global healthcare RCM market is classified into:
Hospitals
Laboratories
Physicians
Others
Among deployment types, the cloud based solutions holds the majority share in the healthcare
revenue cycle management market. The primary factor for the dominance of this segment is
high rate of adoption of electronic medium for maintaining health records, thereby ensuring
well-organized data mining, superior accessibility of the data and precise evaluation of the data
corresponding to health information. This in turn will fuel the growth of the overall healthcare
revenue cycle management market.
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Rising incidences of hospitalizations will drive the overall healthcare revenue cycle management
market
According to the American Hospital Association, the total number of registered hospitals in the
U.S. was 5,564 in 2015. Moreover, it states that in 2015, the total number of admissions in
these hospitals was 35,061,292, i.e. around 35 million patients. Increasing number of
hospitalizations, in turn fuels growth of the global healthcare revenue cycle management
systems market. Maintaining well organized records of patients is the need of the hour.
Additionally, the emerging economies, especially countries such as China and India are likely to
show significant growth prospects over the course of the forecast period. Increasing spends on
healthcare, availability and accessibility of better healthcare facilities, increasing incidence of
diseases and the rising importance of studying historical patient profile across the healthcare
industry will augment the overall growth of the market. Government initiates and strict
regulatory framework will shape the future of the global healthcare revenue cycle management
market.
Major manufacturers in the market compete on the basis of price, and technology (ease of use).
Some of the major players operating in the healthcare revenue cycle management market are
GE Healthcare, Experian PLC., Eclinicalworks, LLC, Mckesson Corporation, Cerner Corporation,
Gebbs Healthcare Solutions, Conifer Health Solutions, LLC. Epic Systems Corporation, Quest
Diagnostics Incorporated, Allscripts Healthcare Solutions, Inc., and Athenahealth, Inc.
About Coherent Market Insights
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analysis through various recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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Author
Alex Huge
Alex Huge194   documents Email
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