Healthcare Revenue Cycle Management Market to Reflect Steady Growth Rate by 2026

Healthcare Revenue Cycle Management
Market Size, Share, Trend, Outlook, Future
Growth Analysis And Synthesis By 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. 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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Global Top Manufacturers
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.
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
levels in addition to saving time. With the growing business, patients are adopting
few payment gateways to make their payments against the services received at
clinics. Multiple advantages will propel the growth of healthcare revenue cycle
market in the near future.
performance
more than a
hospitals or
management
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.
• Research Findings and Conclusion
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.
Healthcare Revenue Cycle Management Market Taxonomy
On The Basis Of Deployment:
•
On-Premise
•
Cloud-Based
•
Web-Based
•
Others
On The Basis Of Component:
•
Software
•
Services
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Rising incidences of hospitalizations will drive the overall healthcare revenue cycle management market