Visiongain Publishes US Revenue Cycle Management Market Report 2021-2031

11 February 2021
Pharma

Visiongain has published a new report on US Revenue Cycle Management Market Report 2021-2031: Forecasts by Product, By Type, By Delivery Mode (Web-based, Cloud-based), By End Use (Physicians' Office, Hospital). PLUS Profiles of Leading Pharma Contract Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.

US Revenue Cycle Management market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031.

Revenue cycle management in healthcare is a process of managing claim process, payment, and revenue generation. Revenue cycle management (RCM) helps a medical practice to increase the revenue by proper claim management. The four components which are involved in revenue cycle management of healthcare system includes patients, healthcare providers, billing company and insurance player.

Significance on increasing the acceptance of Electronic Health Records (EHRs) by healthcare delivery networks is projected to drive the RCM market. Moreover, focus on providing value-based care and reducing healthcare expenditure technological advancements, and outsourcing of health information technology services are the prime factors propelling the overall growth.

Market Drivers
Technological advancements in the Healthcare Revenue Cycle Management (HRCM) software has positively influenced the industry growth throughout analysis timeframe. Recently developed software are highly efficient and helps in providing enhanced patient care. Moreover, upgraded HRCM software have reduced the outstanding accounts receivable of several hospitals and healthcare facilities. Furthermore, adoption of centralized software for medical billing and coding has reduced errors and enhanced the clinical outcomes. Therefore, availability of such technologically advanced systems has escalated the US healthcare revenue cycle management market growth.

Market Opportunities
On the basis of end user, the market is segmented into physicians, hospitals, laboratories, and other end users (including pharmacies, long-term acute care facilities, and academic medical centres). The physicians segment is estimated to account for the largest share of the US market in 2017 and is projected to register the highest CAGR during the forecast period. The growing adoption of integrated practice management systems among physicians is the key factor driving the growth of this market.

Competitive Landscape
The market is highly competitive. Key contributors include SSI Group; Allscripts, Cerner Corporation; Mckesson Corporation; athenahealth, Inc.; Epic Systems Corporation; eclinicalworks; NextGen Healthcare Information System; Carecloud Corporation; Quest Diagnostics, Inc.; and Kareo, Inc. In an effort to retain share, diversify product portfolio, market players are frequently undertaking mergers and acquisitions.

Numerous healthcare suppliers across the U.S. are taking efforts to expedite health data exchange and to improve the efficiency of the existing healthcare systems. For instance, the initiative taken by healthcare providers to use paperless healthcare systems and to incorporate HIT systems by 2020 is likely to boost the growth of during the analysis period.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Biopharmaceuticals Contract Manufacturing Market Report 2022-2032

Ageing population will be more susceptible to such diseases and is one of the key factors driving the growth of the global biological drugs market. In most of the developed world, the share of elderly population is almost touching a quarter of the population.

26 January 2022

Read

Visiongain Publishes Topical Drug Delivery Market Report 2022-2032

Some of the factors driving the market growth are the increasing prevalence of skin and eye diseases, high incidences of burn incidences and the growing prevalence of diabetes.

26 January 2022

Read

Visiongain Publishes Decentralized Clinical Trials Market Report 2022-2032

The growing adoption advanced e-clinical solutions, rising focus on clinical research, increasing investment in R&D, and adoption of decentralized clinical trials by biopharmaceutical companies are some of the major factors that drive the growth of the global decentralized clinical trials market.

24 January 2022

Read

Visiongain Publishes Nasal Drug Delivery Technology Market Report 2022-2032

The nasal drug delivery market will expand rapidly due to rising patient preference for nasal medication delivery due to ease of administration and efficacy, increased self-administration practises, and increased demand for home healthcare equipment.

18 January 2022

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever