The rapid adoption of electronic medical records and electronic health records by companies across the world drives the global revenue cycle management market or RCM market. Fortune Business Insights in its new report, titled “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.
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Some of the major companies that are present in the Global Revenue Cycle Management Market are;
- Greenway Health
- GeBBS Healthcare Solutions
- ZirMed, now part of Waystar
- Epic Systems Corporation
- General Electric Manufacturing Company Cerner Corporation
The rising adoption of RCM among end users and presence of well-established healthcare infrastructure is expected to drive the 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 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.
Strategic Collaborations May Help Companies to Improve their Market Positions
Some of the leading companies operating in the global 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 RCM market are:
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