Healthcare Revenue Cycle Management (RCM) Market Grows Exponentially Owing to Rising Demand for Cloud-based Solutions, says Fortune Business Insights

Healthcare Revenue Cycle Management (RCM) Market is rapid adoption of electronic medical records and electronic health records by companies across the world. According to studies, Asia Pacific is projected to exhibit a high growth in the Revenue Cycle Management Industry

Pune, India - May 16, 2019 /MarketersMedia/ —

The rapid adoption of electronic medical records and electronic health records by companies across the world drives the global revenue cycle management market or Healthcare Revenue Cycle Management (RCM) Market. Fortune Business Insights in its new report, titled “Healthcare Revenue Cycle Management: Global Market Analysis, Insights and Forecast 2018-2025” predicts the market to grow at a remarkable rate during the forecast period. North America is expected to contribute significantly towards the growth of the revenue cycle management market. The rising adoption of RCM among end users and presence of well-established healthcare infrastructure is expected to drive the Healthcare Revenue Cycle Management (RCM) Market in North America. In addition to this, revenue cycle management solutions offer long-term benefits, which is a key reason behind its high uptake in the region. Furthermore, the increasing presence of physicians and hospitals in North America will fuel the demand for revenue cycle management services in the coming years.

According to studies, Asia Pacific is projected to exhibit a high growth in the global Healthcare Revenue Cycle Management (RCM) Market. The growth is primarily attributable to the rising target population looking for medical claims and treatment. Moreover, the market is expected to witness exceptional growth opportunities in India, China, Singapore, and Japan.

Request Sample Copy at https://www.fortunebusinessinsights.com/enquiry/sample/revenue-cycle-management-market-100275

Lack of Experts and High Deployment Cost of RCM Solutions May Limit Growth

Certain factors may negatively impact the growth of the Healthcare Revenue Cycle Management (RCM) Market. Dearth of well-trained professionals is the primary reason that may hamper the growth of the market in the coming years. In addition to this, high deployment costs associated with the RCM solutions are likely to restrict the growth of the market. Another challenge hindering the Healthcare Revenue Cycle Management (RCM) Market’s growth is denial identification. According to the Healthcare Information and Management Systems Society or HIMSS, around 31% of the healthcare providers are still using manual claims for denial identification.

Advent of IT and Analytics in Healthcare Industry Boosts the Market

“Cloud-based solutions are in high demand across the world for seamless data sharing,” stated a lead analyst at Fortune Business Insights. “Several companies are increasingly adopting cloud-based platforms to offer advanced revenue cycle management services,” he added. Robust government initiatives, coupled with decrease in healthcare reimbursements, are likely to drive the Healthcare Revenue Cycle Management (RCM) Market in the coming years. The rising use of analytical tools and IT in the healthcare industry is expected to increase the revenue generated by the Healthcare Revenue Cycle Management (RCM) Market between 2018 and 2025. As per a survey conducted by a research organization called Black Book, out of 500 U.S. hospitals surveyed, 400 hospitals implemented revenue cycle managements systems. With the help of analytical tools, RCM services provide better remote assistance and reduce vendor fees. They also help in streamlining the robotic process automation, encouraging companies to adopt RCM technologies. IT and analytics in RCM can help clinicians, healthcare managers, and physicians to automate the medical assessment based on insurance eligibility and medical financial coverage. Fortune Business Insights predicts the above factors to give tailwinds to the revenue cycle management market over the forecast period.

Strategic Collaborations May Help Companies to Improve their Market Positions

Some of the leading companies operating in the global Healthcare Revenue Cycle Management (RCM) Market include Eclinicalworks, Cerner Corporation, LLC, Gebbs Healthcare Solutions, Allscripts Healthcare Solutions, Inc., Epic Systems Corp. Experian PLC, Mckesson Corporation, GE Healthcare, Athenahealth, Inc., and Quest Diagnostics Incorp. Recenetly, Change Healthcare and Experian Health joined collaborated in January 2019 to offer identity management solutions. The main objective of the partnership is to solve issues of duplication errors and patient identification. Some other developments in the Healthcare Revenue Cycle Management (RCM) Market are:

Quest Diagnostics disclosed the newest version of its Quanum Enterprise Content Management Solution in June 2018. This RCM solution will help healthcare organizations improve the patient care driving efficiency and low costs.

A well-known market leader in ambulatory clinical systems called eClinicalWorks announced eClinical Works Revenue Cycle Management (RCM) in October2018. The main focus of this service was to aid medical practices in terms of optimizing billing. This solution launch will further expand the company’s product portfolio and growth rate.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/revenue-cycle-management-market-100275

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Info:
Name: Fortune Business Insights
Email: Send Email
Organization: Fortune Business Insights
Address: Fortune Business Insights Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India.
Phone: 1 424 253 0390
Website: https://www.fortunebusinessinsights.com

Source URL: https://marketersmedia.com/healthcare-revenue-cycle-management-rcm-market-grows-exponentially-owing-to-rising-demand-for-cloud-based-solutions-says-fortune-business-insights/513552

Source: MarketersMedia

Release ID: 513552

More News From Walk To The Place

The Latest: New mid-engine Corvette starts under $60,000

Jul 19, 2019

WARREN, Mich. — The Latest on the introduction of the new mid-engine Chevrolet Corvette: (all times local): 12:10 a.m. GM President Mark Reuss says the new 2020 version of the Chevrolet Corvette will start under $60,000, 7% more than the current car's base price of $55,900. Prices of other versions weren't announced but the current Corvette can run well over $100,000 with options. That's still thousands cheaper than most European competitors. General Motors unveiled the new car Thursday night at a glitzy ceremony in a World War II dirigible hangar in Orange County, California. Engineers say they moved the V8...

Boeing to take a $4.9 billion charge over grounded jet

Jul 19, 2019

DALLAS — Boeing said Thursday it is booking a $4.9 billion charge to cover possible compensation to airlines that have canceled thousands of flights since the 737 Max jet was grounded after two deadly accidents. The airplane builder also said the Max-related fallout will cut $5.6 billion from its revenue and pre-tax earnings in the April-through-June quarter. The Chicago-based company said the calculations were based on an assumption that regulatory approval for the plane's return to flying will begin early in the fourth quarter. That timing is earlier than some analysts expected and may have contributed to a rally in...

About 10,000 au pairs to get paid in class-action settlement

Jul 19, 2019

DENVER — About 10,000 live-in childcare workers from around the world will share in a class-action settlement in a case that challenged whether they should be treated as employees entitled to minimum wage or members of the family learning about the United States while helping out at home. U.S. District Judge Christine Arguello gave final approval to the $65.5 million deal Thursday during a hearing in Denver, saying the payments to au pairs who filed claims by the May deadline would average $3,500 each. About 160,000 au pairs who came to the United States to work from 2009 to late...

Jerry Seinfeld learns from comedy's best on Netflix series

Jul 19, 2019

BEVERLY HILLS, Calif. — Jerry Seinfeld says he'd rather ride classic cars and sip coffee with comedy's best than reboot his uber-successful "Seinfeld" television series. Seinfeld said in an interview Wednesday night that bringing back his eponymous sitcom that recently celebrated its 30-year anniversary would be "egomaniacal." The comedian says he is focused on learning more about the "sharpest minds in comedy" through his Netflix series "Comedians in Cars Getting Coffee." The 11th season premieres Friday on the streaming service featuring Eddie Murphy. The season also includes other comedians including Jamie Foxx, Martin Short, Rick Gervais, Bridget Everett and more....

Emails show Iowa official's Tupac fixation before his ouster

Jul 19, 2019

IOWA CITY, Iowa — The director of Iowa's social services agency was a huge fan of the late rapper Tupac Shakur, and he frequently let his subordinates know it. Emails obtained by The Associated Press show that Iowa Department of Human Services Director Jerry Foxhoven routinely sent messages to employees lauding Shakur's music and lyrics even after at least one complained to lawmakers. Then last month, he sent another such email to all 4,300 agency employees. He was abruptly ousted from his job the next work day. Foxhoven, 66, told employees that he had been a huge fan of the...

Sign up now!

About Us

Walk To The Place offers travel news of popular destinations for travelers with the urge to explore these places.

Contact us: sales[at]walktotheplace.com

Subscribe Now!