Technavio has been monitoring the global healthcare revenue cycle management (RCM) software market since 2017 and the market is poised to grow by USD 1.49 billion during 2019-2023, progressing at a CAGR of more than 6% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global healthcare revenue cycle management (RCM) software market published during 2019-2023. (Graphic: Business Wire)
Read the 127-page research report with TOC on “Healthcare Revenue Cycle Management (RCM) Software Market Analysis Report by Deployment (cloud and on-premise), by End-users (hospitals, physicians, and medical labs), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 – 2023.”
The market is driven by the adoption of electronic health record (EHR). In addition, the growing adoption of value-based revenue cycle management (RCM) is anticipated to further boost the growth of the healthcare revenue cycle management (RCM) software market.
Many healthcare service providers, centers and units are adopting electronic health records (EHRs) because it helps in maintaining and managing the security of patient data. They are integrating healthcare RCM software with EHR to reduce the insurance rejections and manage the entire business process electronically. This not only improves the operations in the administrative end but also saves time and minimizes the usage of resources. Thus, the rising adoption of EHR is expected to drive market growth during the forecast period.
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Major Five Healthcare Revenue Cycle Management (RCM) Software Market Companies:
Allscripts is offering various products and services through product segments such as clinical and financial solutions. This segment includes the hospitals and health systems, ambulatory, Veradigm, ad EIS-classic strategic business units.
Cerner Corp. is offering various products and services through the business segments domestic and global. The domestic segment includes revenue contributions and expenditures associated with business activity in the US.
CPSI offers various products and services through the business segments acute care EHR. This segment offers healthcare IT solutions specifically designed to cater to the specific needs of community hospital organizations under the software solution platforms.
Epic Systems Corp.
Epic Systems Corp. offers healthcare RCM software. The company’s revenue cycle solution provides services such as online bill payment, self-service payment plans, and financial assistance.
Medical Information Technology Inc.
Medical Information Technology Inc. offers healthcare RCM software through its EHR offering suit called expanse. This software helps healthcare service providers with billing, claim follow-up, underpayments, denial management, and contract compliance.
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Healthcare Revenue Cycle Management (RCM) Software End-users Outlook (Revenue, USD Million, 2019 – 2023)
- Medical labs
Healthcare Revenue Cycle Management (RCM) Software Regional Outlook (Revenue, USD Million, 2019 – 2023)
- North America
- South America
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