• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Life Sciences
  • Investments
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Healthcare Revenue Cycle Management Software Market to Reach $43.3B by 2022

by HITC Staff 01/19/2018 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

RelayHealth Financial HIMSS '16 (32)

The global market for healthcare revenue cycle management software is estimated to reach $43.3B by the end of 2022, increasing at a compound annual growth rate (CAGR) of 6.9%, according to a recent report by Future Market Insights (FMI).

 

The report anticipates the market-to-market positive growth over the coming years, on account of the increasing cumulative patient revenue, improvement payment collection & billing efficiency and recognition of profit . From hospitals to independent physician clinics, the stress of enhancing the quality of patient care is increasing in parallel to the declining reimbursements and increasing risk-margin burdens.

Revenue Cycle Management Software Market Drivers

 

The surging multifaceted nature in restorative coding for charge repayments is expected to drive the healthcare revenue cycle management market. The revenue cycle management systems are intended to decrease charging mistakes by medicinal services suppliers and are broadly utilized as a part of nations, for example, the U.S. where medicinal coding process is unpredictable and dreary.

Furthermore, lessening in medicinal services repayments by government and private bodies and the rising rate of claim refusals will actuate substantial numbers of social insurance suppliers to receive revenue cycle management hones.

The perpetual signs of change government controls in the healthcare space prompts an ascent in the operational expenses. This ascent will prompt a decline in the revenue of the healthcare division, which, as of now, works at a low edge.

There are consistent recuperation reviews to distinguish illicit installments under the expense for-benefit Medicare and this further reduces their revenue. To keep their operational costs low and keep up the review report, healthcare suppliers have begun putting resources into RCM systems and are currently outsourcing their restorative revenue cycle management operations to outsider merchants.

The interest for revenue cycle management software in record of sale follow-up management apps is likewise anticipated to pick up footing, present revenues are anticipated to get more than one-fourth offer on worldwide revenues.

Some healthcare associations are now encountering how the manual nature of case management forms is taking a regulatory toll on healthcare revenue cycle management. The report continues that claim management utilizations of healthcare revenue cycle management software are relied upon to mirror a moderate development as far as revenues are concerned.

Some of the leading vendors of the global healthcare revenue cycle management market are Epic Systems Corporation, Quest Diagnostics, Inc., CareCloud Corporation, Allscripts Healthcare Solutions, Inc. and McKesson Corp.

Image credit: RelayHealth

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Revenue Cycle Management, Revenue Cycle Management Market, revenue cycle management systems

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Interview

Reach7 Diabetes Studios Founder Chun Yong on Reimagining Chronic Care with a Concierge Medical Model

Most-Read

Bayer Exits Radiology AI Market, Discontinuing Calantic and Blackford

Bayer Exits Radiology AI Market, Discontinuing Calantic and Blackford

Oracle Health Launches AI Center of Excellence for Healthcare

Oracle Health Launches AI Center of Excellence for Healthcare

Particle Health Addresses Integration to Epic Data Despite Dispute

US Court Allows Particle’s Antitrust Claims Against Epic to Proceed

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Evernorth Health Services Invests $3.5B in Shields Health Solutions

Evernorth Health Services Invests $3.5B in Shields Health Solutions

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

M&A:Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

Femtech: Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |