Press Release

Revenue Cycle Management Outsourcing Market Forecast to Grow at 14.5% CAGR

Revenue Cycle Management Market 2019 Industry Size and Share Evolution to 2025 by Growth Insight, Trends

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.

Browse Complete Report Details:@ https://www.fortunebusinessinsights.com/industry-reports/revenue-cycle-management-market-100275

Some of the major companies that are present in the Global Revenue Cycle Management Market are;

  • Microsoft
  • IBM
  • Dell
  • McKesson
  • Experian
  • Allscripts
  • Athenahealth
  • Greenway Health
  • GeBBS Healthcare Solutions
  • ZirMed, now part of Waystar
  • Epic Systems Corporation
  • General Electric Manufacturing Company Cerner Corporation

Request Sample [email protected] https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/revenue-cycle-management-market-100275

Advent of IT and Analytics in Healthcare Industry Boosts the Market 

“Cloud-based solutions are in high demand across the world for seamless data sharing,” stated a lead analyst at Fortune Business Insights. “Several companies are increasingly adopting cloud-based platforms to offer advanced revenue cycle management services,” he added. Robust government initiatives, coupled with decrease in healthcare reimbursements, are likely to drive the RCM market in the coming years. The rising use of analytical tools and IT in the healthcare industry is expected to increase the revenue generated by the RCM market between 2018 and 2025.

As per a survey conducted by a research organization called Black Book, out of 500 U.S. hospitals surveyed, 400 hospitals implemented revenue cycle managements systems. With the help of analytical tools, RCM services provide better remote assistance and reduce vendor fees. They also help in streamlining the robotic process automation, encouraging companies to adopt RCM technologies. IT and analytics in RCM can help clinicians, healthcare managers, and physicians to automate the medical assessment based on insurance eligibility and medical financial coverage. Fortune Business Insights predicts the above factors to give tailwinds to the revenue cycle management market over the forecast period.

Lack of Experts and High Deployment Cost of RCM Solutions May Limit Growth

Certain factors may negatively impact the growth of the RCM market. Dearth of well-trained professionals is the primary reason that may hamper the growth of the market in the coming years.  In addition to this, high deployment costs associated with the RCM solutions are likely to restrict the growth of the market. Another challenge hindering the RCM market’s growth is denial identification. According to the Healthcare Information and Management Systems Society or HIMSS, around 31% of the healthcare providers are still using manual claims for denial identification.

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Dale Martinez

Dale possesses an engineering degree in Electronics from the Georgia Institute of Technology. She is the sole contributor at the Healthcare IT column. Before opting to write, Dale worked at major firms such as Microsoft, Amazon, GE, Raytheon, and so on. She possesses vast knowledge about a variety of fields like IT, IoT, Telecommunications, Health Dialysis, photovoltaic, and many others. Dale is also a ballet dancer.

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