close

Enter

Log in using OpenID

Healthcare Revenue Cycle Management Market Shows Expected Growth from 2018-2026

embed
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
Healthcare Revenue Cycle Management Market
Trends Estimates High Demand By 2026
Healthcare Revenue Cycle Management Market – Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018-2026
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.
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.
Request For Sample Copy of This Business Report @
https://www.coherentmarketinsights.com/insight/request-sample/157
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.
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.
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.
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.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready
syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
Email: [email protected]
Author
ravikiran
ravikiran298   documents Email
Document
Category
Health and Medicine
Views
2
File Size
360 KB
Tags
management
1/--pages
Report inappropriate content