Global Revenue Cycle Management Healthcare Market to reach $100bn by 2024

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Healthcare Revenue Cycle Management Industry
Trends, Market Players, Research Report 2024
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from HRCM Market

• (HRCM) Healthcare Revenue Cycle Management Market
  size is set to exceed USD 100 billion by 2024
  according to a new research study published by
  Global Market Insights, Inc.
• HRCM is recognized as the most important system
  in a healthcare technology infrastructure.
  Healthcare providers employ certified Electronic
  Health Records (EHR) and automated practice
  management to save cost by reducing the number of
  denied claims and enabling patients to pay bills
  online. Introduction of advanced automated
  solutions have helped clinical and front desk
  staff, providers, and coders billers to
  increase performance level and save time. With
  increasing business, patients are using multiple
  channels to make payments for the services
  received at clinic or hospitals. Increasing
  number of benefits will stimulate the healthcare
  revenue cycle management market growth over the
  forecast timeline.

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Continued...

• The growing government and private insurance
  shift from volume to value-based healthcare,
  demand to reduce billing errors and
  implementation of big data analytics should drive
  the healthcare revenue cycle management market. A
  steady stream of government compliance
  requirements such as ICD-10 transition and HIPAA
  v5010 and increased fraudulence screening are
  generating demand for more robust solutions.
• Integrated solutions should be the major revenue
  generating segment in 2015 due to enhanced
  operational capabilities and streamlined
  financial and clinical systems with greater
  insights into costs, treatments, and outcomes.
  Healthcare revenue cycle management market
  services are forecast to be the leading component
  segment owing to stability provided over
  frequently updating software.

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Germany Healthcare Revenue Cycle Management
Market Size, By Component, 2012-2024 (USD Bn)

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Continued...

• Cloud based solutions held over 75 of the 2015
  healthcare revenue cycle management market share
  due to adoption of electronic health records for
  efficient data mining and accurate assessment of
  the health information. Increased demand for
  accountable care participation, reimbursement and
  payment reforms, ICD-10 coding challenges, and
  declining revenue will drive the industry by
  2024.
• U.S. healthcare revenue cycle management market
  is forecast to rise significantly over the coming
  years. Increased funding and insurance coverage
  has expanded Medicaid coverage and introduced
  mandatory health insurance under the Affordable
  Care Act. This is set to boost the demand for
  these solutions in the region.

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Continued...

• Germany healthcare revenue cycle management
  market share accounted for more than 20 of
  overall European revenue in 2015 owing to
  increasing healthcare spending. Emergence of big
  data analytics, business digitalization, and
  favorable government regulations are some of the
  factors driving business growth.
• China healthcare revenue cycle management market
  size will witness robust growth of over 15 from
  2016 to 2024, due to increase in the IT skills,
  sustainable economic growth and increasing health
  insurance demand. Japan healthcare revenue cycle
  management market is expected to surpass USD 6
  billion by 2024 due to increasing use of cloud
  systems among small hospitals and clinics and
  increased acceptance of these solutions among the
  medical fraternity.

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Continued...

• Brazil healthcare revenue cycle management market
  was valued over USD 650 million in 2015, growing
  at 13 CAGR from 2016 to 2024. Increasing
  government and private investment in healthcare
  information technology coupled with rising life
  expectancy is expected to witness promising
  growth over the forecast period. Some of the
  major companies operating in the industry include
  Cerner, Athenahealth, Allscripts, Siemens,
  CareCloud, GE Healthcare, McKesson, Experian and
  Quest Diagnostics.

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