Healthcare Revenue Cycle Management (RCM) Market Grows Exponentially Owing to Rising Demand for Cloud-based Solutions, says Fortune Business Insights

Healthcare Revenue Cycle Management (RCM) Market is rapid adoption of electronic medical records and electronic health records by companies across the world. According to studies, Asia Pacific is projected to exhibit a high growth in the Revenue Cycle Management Industry

Pune, India - May 16, 2019 /MarketersMedia/ —

The rapid adoption of electronic medical records and electronic health records by companies across the world drives the global revenue cycle management market or Healthcare Revenue Cycle Management (RCM) Market. Fortune Business Insights in its new report, titled “Healthcare 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. The rising adoption of RCM among end users and presence of well-established healthcare infrastructure is expected to drive the Healthcare Revenue Cycle Management (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 Healthcare Revenue Cycle Management (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.

Request Sample Copy at https://www.fortunebusinessinsights.com/enquiry/sample/revenue-cycle-management-market-100275

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

Certain factors may negatively impact the growth of the Healthcare Revenue Cycle Management (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 Healthcare Revenue Cycle Management (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.

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 Healthcare Revenue Cycle Management (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 Healthcare Revenue Cycle Management (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.

Strategic Collaborations May Help Companies to Improve their Market Positions

Some of the leading companies operating in the global Healthcare Revenue Cycle Management (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 Healthcare Revenue Cycle Management (RCM) Market are:

Quest Diagnostics disclosed the newest version of its Quanum Enterprise Content Management Solution in June 2018. This RCM solution will help healthcare organizations improve the patient care driving efficiency and low costs.

A well-known market leader in ambulatory clinical systems called eClinicalWorks announced eClinical Works Revenue Cycle Management (RCM) in October2018. The main focus of this service was to aid medical practices in terms of optimizing billing. This solution launch will further expand the company’s product portfolio and growth rate.

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

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Info:
Name: Fortune Business Insights
Email: Send Email
Organization: Fortune Business Insights
Address: Fortune Business Insights Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India.
Phone: 1 424 253 0390
Website: https://www.fortunebusinessinsights.com

Source URL: https://marketersmedia.com/healthcare-revenue-cycle-management-rcm-market-grows-exponentially-owing-to-rising-demand-for-cloud-based-solutions-says-fortune-business-insights/513552

Source: MarketersMedia

Release ID: 513552

More News From Biz Daily Online

Asian stocks gain after US, China announce truce on tariffs

Jun 7, 2020

BEIJING — Asian stock markets have risen after Washington and Beijing announced a truce on tariff hikes in a trade war. Benchmarks in Shanghai, Hong Kong and Seoul advanced. Japanese markets were closed for a holiday. President Donald Trump agreed Friday to put off planned tariff hikes this week on Chinese goods in a fight over Beijing's trade surplus and technology plans. In exchange, he said China would buy American farm goods. But the two sides reported no progress on basic disputes that sparked the 15-month-old fight that threatens global economic growth. Friday's truce "has simply temporarily halted the escalation...

Stocks mixed, oil down as markets await news on Saudi plant

Jun 7, 2020

BANGKOK — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant damaged by an attack over the weekend. Chinese benchmarks led declines in Asia after the credit ratings agency Moody's downgraded Hong Kong, citing its recent political turmoil. Germany's DAX lost 0.2% to 12,362 after the ZEW index showed a drop in investor confidence in current economic conditions, pointing to the possibility of a brief recession, but sees a pick-up later in the year. The CAC 40 in Paris added 0.1% to 5,607 and the FTSE...

HK stocks surge on withdrawal of law that sparked protests

Jun 7, 2020

BEIJING — Hong Kong stocks surged Wednesday as the government withdrew a proposed extradition law that sparked three months of protests in the Chinese territory. Hong Kong's benchmark Hang Seng index jumped 3.9% on news of plans for the withdrawal, which Chief Executive Carrie Lam confirmed after markets closed. The protests have disrupted travel, adding to pressure from weakening global trade. Elsewhere, benchmarks in London, Frankfurt, Shanghai and Tokyo rose following surprise weakness in U.S. manufacturing as Britain's Parliament fought over plans to leave the European Union. In early trading, London's FTSE 100 gained 0.8% to 7,326.65 and Frankfurt's DAX...

Asian stocks mixed after US, China impose new tariff hikes

Jun 7, 2020

BEIJING — Asian stocks were mixed Monday after Washington and Beijing escalated their trade war with new tariff hikes. Shanghai and South Korea advanced while Tokyo and Hong Kong declined. Markets reacted less strongly to the weekend tariff hikes on billions of dollars of goods than to previous increases. Investors are hoping for progress in talks this month, but analysts warn the fight over trade and technology is unlikely to be quickly resolved. "The short-lived truce will probably provide limited relief," said Zhu Huani of Mizuho Bank in a report. "Businesses have become increasingly uncertain about future prospects, evidenced by...

Global stocks higher ahead of US Fed chairman's speech

Jun 7, 2020

BEIJING — Global stock markets rose Friday after Wall Street declined ahead of a closely watched speech by the U.S. Federal Reserve chairman. Market benchmarks in London, Frankfurt, Shanghai and Tokyo all advanced. Investors are looking to Jerome Powell's speech Friday for signs of direction on interest rates after two regional Fed presidents said they see no need for a change. Investors expect a cut in September, the Fed's second in three months, to shore up U.S. economic growth amid a tariff war with Beijing and weakening global growth. "Markets seem very clearly positioned for some very dovish guidance from...

About Us

Biz Daily Online gives a complete understanding of the world of business to you. Get today’s business news and learn about the trends that are affecting every business here.

Contact us: sales[at]bizdailyonline.com

Subscribe Now!