The Business Research Company’s Revenue Cycle Management Software Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, November 9, 2021 /EINPresswire.com/ — According to the new market research report ‘Revenue Cycle Management Software Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, the revenue cycle management software market is expected to grow from $63.39 billion in 2020 to $71.77 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $130.26 billion in 2025 at a CAGR of 16%. The rise in the number of hospital and outpatient visits is expected to drive the revenue cycle management software market.
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The revenue cycle management software market consists of sales of revenue cycle management software services by entities (organizations, sole traders and partnerships) that provide revenue cycle management, which is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. Only goods and services traded between entities or sold to end consumers are included.
Trends In The Global Revenue Cycle Management Software Market
Incorporating artificial intelligence (AI) in revenue cycle management software is shaping the revenue cycle management software market. Major healthcare analytics leaders are actively implementing or planning to execute an AI strategy that will help make decisions faster and reduce operational expenses. For instance, in April 2019, VisiQuate, Inc., a leader in healthcare business analytics, has announced a formal partnership with Etyon Health to integrate the business analytics platform and deep machine-learning algorithms to improve performance continuously through enhanced operational insights and automate the claim decisions based on complex data science. Etyon Health is a developer of AI-driven RCM solutions.
Global Revenue Cycle Management Software Market Segments:
The global RCM software market is further segmented:
By Product: Integrated, Standalone
By Function: Claim And Denial, Medical Billing And Coding, Patient Insurance Eligibility Check, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Others
By Deployment: Web Based, On Premise, Cloud Based
By Geography: The global revenue cycle management market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Revenue Cycle Management Software Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides revenue cycle management software global market overviews, analyzes and forecasts market size and growth for the global revenue cycle management software market, revenue cycle management software market share, revenue cycle management software global market players, revenue cycle management software global market segments and geographies, revenue cycle management software global market’s leading competitors’ revenues, profiles and market shares. The revenue cycle management software global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Revenue Cycle Management Software Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Revenue Cycle Management Software Market Organizations Covered: Accretive Health, Billing Blues, 3M Health Information Systems, QWay Health, MedSecretery, Medserv, Medical Accounting Services, Patient Billing, R1 RCM, Australian Medical Billing Service, Epic Systems, General Electric Company, McKesson Corporation, Cerner Corporation, Allscripts, Quest Diagnostics, Waystar, Kareo, AthenaCollector, DrChrono, Availity, AdvanceBiling, Optum 360, Care Cloud Concierge, Trizetto, Mckesson, Allscripts Healthcare Solutions, Athenahealth, Eclinicalwork, GE Healthcare.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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