According to the report, “Revenue Cycle Management Market Size, Share & Trends Analysis Report By Product (Software, Service), By Type (Integrated, Standalone), By Delivery Mode, By Region, And Segment Forecasts, 2020－2027”, the growing use of revenue cycle management for their features such as flexibility, enhanced security, and cost-effective properties are expected to remain pivotal during the market growth.
The rise in spending on advanced software infrastructure and designs is likely to encourage a significant market growth in the coming years. Moreover, the overheads for outsourcing is likely to result in high adoption for revenue cycle management software. Emergence of IoT technology, blockchain and automation, and demand for competency is more likely to result in market development in the coming years.
In addition, the launch of improved versions of existing software in healthcare settings according to the consumer needs is further anticipated to enhance the market developments in the coming years. Moreover, the rise in growth of market segments is likely to result in the development of resources and deployment of revenue cycle management.
Revenue Cycle Management Market Report Highlights:
The market is anticipated to be expand significantly owing to increased adoption of RCM systems in healthcare settings.
The software segment accounted for a major share in 2019 with a market size of around USD 39.0 billion due to increasing demand for HIT systems.
Integrated RCM solutions held the largest market share of 69.0% in 2019, as they are cost -effective as compared to standalone solutions.
North America dominated the revenue cycle management market in 2019 owing to the availability of favorable reimbursement policies, presence of well-developed healthcare infrastructure, and growing adoption of RCM solutions and their long – term benefits.
The companies are focusing on strategic collaborations and introduction of new products to survive the market competition.
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Grand View Research has segmented the global revenue cycle management market based on product, type, delivery mode, end use, and region:
Revenue Cycle Management Product Type Outlook (Revenue, USD Million, 2016 － 2027)
Revenue Cycle Management Type Outlook (Revenue, USD Million, 2016 － 2027)
Revenue Cycle Management Delivery Mode Outlook (Revenue, USD Million, 2016 － 2027)
Revenue Cycle Management End – use Outlook (Revenue, USD Million, 2016 － 2027)
Revenue Cycle Management Regional Outlook (Revenue, USD Million, 2016 － 2027)
List of Key Players for Revenue Cycle Management Market:
NextGen Healthcare Information Solution LLC
Epic Systems Corporation
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