The latest market report published by Acute Market Reports “Global Healthcare Revenue Cycle Management Market - Growth, Future Prospects, Competitive Analysis, 2021 - 2029,” the global healthcare revenue cycle management market will be expanding at a CAGR of 11.8% from 2021 to 2029.
Market Insights
As per the latest research findings of World Health Organization (WHO) there has been a tremendous growth in the number of people suffering with chronic disease worldwide due to rapid ageing and greater longevity. IT industry has undergone technical revolution in the last decade and has been successful in tapping the healthcare segment. Availability of healthcare insurance has led to the enormous need of healthcare revenue cycle management solutions for medical bill generation, remittance claim and revenue collection.
Software solutions are leading the product segment for healthcare revenue cycle management market. High degree of customization and rampant growth in IT industry provide an impetus for the software solutions market growth. Services solutions are gaining immense popularity owing to its magnificent outsourcing services provided in revenue cycle management by several market participants.
In the present scenario standalone solutions are dominating the type segment for healthcare revenue cycle management market. Low maintenance cost and increasing adoption by small clinics drive the standalone services market growth worldwide. Integrated solutions will be the fastest growing market during the forecast period 2021 to 2029 on account of ability of multiple users to access data simultaneously and streamlining of operations related to generation of medical bills.
Web based solutions are currently reigning the delivery mode for healthcare revenue cycle management market. The parameters engaged in the outstanding growth of web based solutions are hassle free revenue operations being performed through web browser under supervision of third party. In the near future cloud based services will be the latest trendsetter owing to its large storage capacity of patient’s electronic health records and rising preference of integrated services in healthcare settings.
North America is the clear leader in the geographical segment for healthcare revenue cycle management market. The factors providing spurt for the market growth in North America are developed healthcare settings and rampant growth in the IT healthcare segment. Presence of major players such as AthenaHealth, Allscripts Healthcare Solutions, Inc., and GE Healthcare further propel the market growth in North America. In Europe the market growth is favored by chief parameters such as strategic collaboration between insurance companies and healthcare agencies and increasing number of patients receiving medical intervention for treatment of chronic diseases. Asia Pacific will be the fastest growing market owing to the rampant growth in local IT companies providing services and software pertaining to healthcare revenue cycle management.
Companies providing services and software related to healthcare revenue cycle management market are Allscripts Healthcare Solutions, Inc., Vizient, Inc., AthenaHealth, Care Cloud Corporation, Cerner Corporation, GE Healthcare, EPIC Systems Corporation, Gebbs Healthcare Solutions, McKesson Corporation, and NextGen Healthcare Information Solution LLC.
Browse the full report Healthcare Revenue Cycle Management Market - Growth, Future Prospects, Competitive Analysis, 2021 – 2029 at https://www.acutemarketreports.com/report/healthcare-revenue-cycle-management-market
Key Market Movements:
• Ramapant growth in the IT and healthcare infrastructure throughout the globe
• Availability of diverse range of services and software solutions to streamline the revenue cycle management in healthcare settings
• Strategic collaboration between insurance companies and healthcare segment to provide claim remittance to patients suffering with chronic disease
