Welcome to
On Feet Nation
Posted by Denise on August 2, 2024 at 11:22pm 0 Comments 0 Likes
Posted by Selma on August 2, 2024 at 11:17pm 0 Comments 0 Likes
Revenue Cycle Management Market growth is majorly attributed to the need for increasing patient volumes, and the growing need to manage unstructured healthcare data. Also, growing regulatory requirements & government initiatives are expected to drive demand growth in the IoT medical devices market during the forecast period.
Currently, Revenue Cycle Management Market is growing at a Compound Annual Growth Rate (CAGR) of 10.6 % to reach USD 67.8 billion by 2026. Revenue cycle management (RCM) is the process used to track the revenue from patients, from their initial appointment or encounter with the healthcare system to their final payment of the balance. This process helps streamline the business operations of healthcare organizations and private practices. RCM solutions help providers manage and enhance revenue cycle functions such as medical coding & billing, patient insurance eligibility verification, electronic health records, clinical documentation, and claims & denials management.
Request for assumptions & how numbers were triangulated.
https://www.marketsandmarkets.com/requestsampleNew.asp?id=153900104
Growth Drivers
Growth Opportunities
Challenges
Trends
The prominent players operating in the Revenue Cycle Management Market are
R1 RCM (US), Cerner Corporation (US), Optum (US), McKesson Corporation (US), Change Healthcare (US), and 3M (US),
R1 RCM (US) held the leading position in the revenue cycle management market in 2020. It provides comprehensive revenue cycle infrastructure to providers. The company also provides advisory services such as physician advisory services (PAS), practice management (PM), revenue integrity solutions (RIS), patient experience (PX), coding management, and business office services. The company focuses on inorganic growth strategies like collaborations, partnerships, agreements, and acquisitions. Between 2019 and 2021, the company also signed agreements with Mednax and Ascension to expand its role as the provider of key patient experience technologies to improve patient and provider experience.
Cerner Corporation (US) held the second position in the revenue cycle management market in 2020. Cerner operates through seven business segments: Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Support and Maintenance, and Reimbursed Travel. The company is a provider of end-to-end RCM services. It has consistently focused its efforts on strengthening its competencies in revenue cycle management services and improving its revenue cycle solutions. The company has witnessed an increasing preference for its Millennium platform for revenue cycle management. The company focuses on inorganic growth strategies such as agreements, partnerships, and collaborations with various healthcare providers to keep up with its competitors. Cerner offers a broad portfolio of RCM solutions and has a wide geographic presence with distribution channels across the Americas, Europe, the Asia Pacific, and the Middle East.
Download an Illustrative Overview:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153900104
North America is expected to exhibit the highest growth during the forecast period
Recent Developments
© 2024 Created by PH the vintage.
Powered by
You need to be a member of On Feet Nation to add comments!
Join On Feet Nation