Revenue Cycle Management Market worth $147.27 billion by 2026
" COVID-19 Impact on revenue cycle management market, size, share, growth, and forecast 2020-2026 "
The revenue cycle management process includes claim processing, payment management, and revenue management of healthcare services. Globally, the demand for revenue cycle management software is increasing rapidly for efficient management of healthcare services.
The major factors contributing to the revenue cycle management market growth are the risk of loss of revenue due to the traditional billing process, the need for improved revenue cycle management process in the healthcare industry, and rising government initiatives on the adoption of revenue cycle management solutions.
Although the expensive costs incurred in the maintenance of revenue cycle management solutions and the lack of qualified IT professionals in the healthcare sector are the major challenges in the market. Moreover, the rising coalition among the players in the market for an end to end solutions for the end-users and rapidly increasing demand for the cloud-based revenue cycle management solutions which are providing the opportunity and support for the market growth.
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The research report is titled “Revenue Cycle Management Market by Function, Offering End-User, Geography (North America, Europe, Asia Pacific and Rest of the World)” provides in-depth market analysis with actionable insights. The top five leading players in the Revenue Cycle Management Market are Cerner, Mckesson, Quest Diagnostics, Allscripts Healthcare Solutions, and Athenahealth.
In the revenue cycle management market, the North America region accounted for the largest share with the increasing adoption of developed IT framework, an increasing number of hospitals, and robust health systems in this region, which increases the demand for revenue cycle management. Asia-Pacific region market is growing at the highest CAGR as compared to other regions due to increasing focus on improvised healthcare system in this region.
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The report consists of 115 Tables and 85 charts depicting the in-depth market study and the impact analysis by Vendor name. View detailed TOC here.
The revenue cycle management market categories are illustrated as following:
Based on Function:
- Claims & Denial Management
- Medical Coding & Billing
- Patient Insurance Eligibility Verification
- Payment Remittance
- Electronic Health Record
- Clinical Documentation Improvement
- Other Functions
Based on Offering:
Based on Product:
- Integrated Solutions
- Standalone Solutions
Based on End User:
- Other End Users
Based on Geography:
- North America
- Asia Pacific
- Rest of the World