Crystal Market Research

Healthcare Revenue Cycle Management Market Demonstrate Immense Growth Potential at USD 89.66 Billion with 10.93% of CAGR by 2023


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Industry Highlights:
The Healthcare Revenue Cycle Management Market was worth USD 35.25 billion in 2014 and is expected to reach approximately USD 89.66 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 10.93% during the forecast period. Increment in expenditure for healthcare is anticipated to boost the development of the market. Expanding complications in medicinal coding for reimbursements of bills is foreseen to drive the healthcare revenue cycle management market. The revenue cycle management solutions are intended to decrease billing mistakes by health care suppliers and are commonly used in nations, for example, the U.S. where medicinal coding process is tedious and complicated. Moreover, lessening in medical reimbursements by private and government bodies and rising rate of claim rejections will initiate vast number of health care suppliers to implement revenue cycle management practices.

Major Manufactures:
The leading players in the market are athenahealth, Experian, McKesson Corporation, Allscripts, Siemens Healthineers, Quest Diagnostics, CareCloud, GE Healthcare and Cerner. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

Regional Outlook and Trend Analysis:
U.S. healthcare revenue cycle management market is set to grow tremendously over the forecast period. Stringent administrative regulations and existence of driving industry players in this district will lift the revenue cycle management solutions demand. The country healthcare system has encountered significant changes, for the most part because of adoption of the Affordable Care Act. Coding system advancement and regulatory amendments have changed the way the U.S. human healthcare system works and have constrained the suppliers to provide maximum value to patients with lessening the costs. Germany and UK social insurance income cycle administration advertise are set to witness hearty development over the following years.

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Component Outlook and Trend Analysis:
Healthcare revenue cycle management services held over 63% industry share in 2015 and is foreseen to grow at a considerable CAGR over the forecast period, because of rapid updates in programming. The market is anticipated to develop at a stable CAGR amid the conjecture time frame. Improvement of big data analytics along with healthcare IT has substantially affected the usage of different arrangements, for example, electronic medical records, and e-prescribing systems, among others.

End User Outlook and Trend Analysis:
Physicians including physician billing organizations captured over 40% of healthcare revenue cycle management market in 2015, developing at solid CAGR over the forecast period. With a viable revenue cycle management solution, physicians and organizations owned by physicians can streamline the procedures and enhance submission of claims and expand accumulations. The billing associations provide smooth and fast delivery of procedures enabling physicians to concentrate around quality patient care delivery.

Product Outlook and Trend Analysis:
Integrated healthcare revenue cycle management market estimate was esteemed at over USD 34 billion capturing more than 85% of income share in 2015 because of the expanding switch in the healthcare industry from volume based installment to value based frameworks. Most of the doctors are inclined towards integrated software keeping in mind the end goal to adapt to declining productivity attributable to incompetent standalone billing technologies, and reducing reimbursements. Doctors foresee practice dissolution to expansive physician groups if there should arise an occurrence of not utilizing updated, and integrated revenue cycle management products.

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Deployment Outlook and Trend Analysis:
Cloud-based revenue cycle management solution is the biggest market shareholder and is anticipate to encounter significant development over the forecast period, because of expanding interest for enhanced consumer platforms at moderate expenses. There has been increment in the number of application service providers as of late in light of the developing pattern for income cycle management outsourcing. Cloud-based arrangements are generally more affordable in comparison with the on premise systems, and enable organizations to dodge IT equipment and bolster IT staff costs.

Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research

Chapter 2. Executive Summary
2.1. Key Highlights

Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities Emerging Markets to Offer Lucrative Growth Opportunities

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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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