Market Overview:
The global healthcare revenue cycle management software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for integrated healthcare solutions and the rising need for automation in revenue cycle management processes. The global healthcare revenue cycle management software market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into software and services. The software segment is further sub-segmented into standalone software and integrated software. The services segment is further sub-segmented into implementation services, training & support services, and consulting services. On the basis of application, the market is divided into hospital, long term care centres, rehabilitation centres clinics and others segments respectively .On geographical grounds ,the global HCRCM Software Market has been segregated North America (U S A & Canada), Latin America (Brazil Mexico), Europe(Germany France Italy Spain U K Rest Of Europe), Asia Pacific (Japan China South Korea India Rest Of APAC) MEA(GCC Countries Israel South Africa Rest Of MEA).
Product Definition:
Healthcare Revenue Cycle Management Software is used to manage the revenue cycle for a healthcare organization. It includes modules for billing, insurance verification, claims management, and collections. The software helps automate these processes and improve efficiency.
Software:
Software, it's usage.
Revenue cycle management software is used by healthcare providers to manage their revenue cycle. It comprises of four modules which are claim processing, accounts receivable management, patient financial services and compliance. The major function of this module is to help the healthcare providers in collecting the money owed by patients as well as reduce collection costs & risks through automation.
Services:
Revenue cycle management (RCM) is a practice that involves managing all the money related processes of a medical service business. It includes services ranging from pre-admission to post-discharge and everything in between. Healthcare RCM software solutions help healthcare facilities, physicians, and other professionals to manage revenue cycles such as admissions, payments, claims processing & reimbursements right from the patient’s first encounter with the organization until final payment is made by insurance company.
Application Insights:
The others application segment held the largest share of over 30.0% in 2017. The revenue cycle management software is being used for various other applications such as laboratories, imaging, and home healthcare among others. These applications are expected to witness significant growth owing to the increasing demand for technologically advanced solutions that can help manage complex processes with ease while reducing costs and time.
The hospital application segment is expected to grow at a CAGR of XX% from 2018 to 2030 owing to an increase in the number of hospitals across the globe that are trying their best to reduce costs while improving services by adopting innovative technologies such as workflow solutions & revenue cycle management software that will help them improve patient safety along with administrative efficiency and productivity.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of players coupled with the high adoption rate of advanced healthcare IT solutions is one major factor contributing to its growth. Moreover, increasing demand for efficient healthcare services and rising need for cost-cutting by hospitals are some other factors driving regional growth.
Asia Pacific is expected to witness lucrative CAGR over the forecast period owing to various factors such as improving healthcare infrastructure and growing penetration of insurance companies that offer revenue cycle management software solutions at affordable prices, thus making it accessible to a larger population base. Furthermore, government initiatives encouraging EHR implementation are also anticipated to boost market development in this region over the forecast period (2018 - 2030). For instance, In India since 2014 there has been an initiative called e-hospital project which aims at reducing hospital readmissions through effective data sharing between hospitals & primary care providers (Hospitals: Integrated Care Information System; Primary Care Providers: integrated information systems).
Growth Factors:
- Increasing demand for automated healthcare revenue cycle management software due to the growing complexity of healthcare billing and reimbursement processes.
- The need for improved cash flow and financial performance in the healthcare industry is expected to drive the growth of the market for healthcare revenue cycle management software.
- Rising adoption of cloud-based solutions by hospitals and other providers is anticipated to fuel market growth over the forecast period.
- Growing demand for integrated Healthcare Revenue Cycle Management (HCRM) solutions that can manage all aspects of billing, payments, and collections is expected to boost market growth during the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Revenue Cycle Management Software Market Research Report
By Type
Software, Services
By Application
Hospital, Long Term Care Centres, Rehibilitation Centres, Clinics, Others
By Companies
Cerner, McKesson, Quest Diagnostics, athenahealth, Epic, EMC, CareCloud, Greenway, Allscripts, Qsi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
222
Number of Tables & Figures
156
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Revenue Cycle Management Software Market Report Segments:
The global Healthcare Revenue Cycle Management Software market is segmented on the basis of:
Types
Software, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Long Term Care Centres, Rehibilitation Centres, Clinics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cerner
- McKesson
- Quest Diagnostics
- athenahealth
- Epic
- EMC
- CareCloud
- Greenway
- Allscripts
- Qsi
Highlights of The Healthcare Revenue Cycle Management Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Services
- By Application:
- Hospital
- Long Term Care Centres
- Rehibilitation Centres
- Clinics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare Revenue Cycle Management Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Healthcare revenue cycle management software is a computer program that helps healthcare providers manage their revenue cycle, including billing, collections, and payments. Revenue cycle management software can help healthcare providers improve their efficiency and accuracy in billing and collections, as well as reducing the cost of payment processing.
Some of the major players in the healthcare revenue cycle management software market are Cerner, McKesson, Quest Diagnostics, athenahealth, Epic, EMC, CareCloud, Greenway, Allscripts, Qsi.
The healthcare revenue cycle management software market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare Revenue Cycle Management Software Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Healthcare Revenue Cycle Management Software Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Healthcare Revenue Cycle Management Software Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Healthcare Revenue Cycle Management Software Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Healthcare Revenue Cycle Management Software Market Size & Forecast, 2020-2028 4.5.1 Healthcare Revenue Cycle Management Software Market Size and Y-o-Y Growth 4.5.2 Healthcare Revenue Cycle Management Software Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Software
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Long Term Care Centres
6.2.3 Rehibilitation Centres
6.2.4 Clinics
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare Revenue Cycle Management Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare Revenue Cycle Management Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Software
9.6.2 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Long Term Care Centres
9.10.3 Rehibilitation Centres
9.10.4 Clinics
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Software
10.6.2 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Long Term Care Centres
10.10.3 Rehibilitation Centres
10.10.4 Clinics
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Software
11.6.2 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Long Term Care Centres
11.10.3 Rehibilitation Centres
11.10.4 Clinics
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Software
12.6.2 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Long Term Care Centres
12.10.3 Rehibilitation Centres
12.10.4 Clinics
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Software
13.6.2 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Long Term Care Centres
13.10.3 Rehibilitation Centres
13.10.4 Clinics
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare Revenue Cycle Management Software Market: Competitive Dashboard
14.2 Global Healthcare Revenue Cycle Management Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cerner
14.3.2 McKesson
14.3.3 Quest Diagnostics
14.3.4 athenahealth
14.3.5 Epic
14.3.6 EMC
14.3.7 CareCloud
14.3.8 Greenway
14.3.9 Allscripts
14.3.10 Qsi