The report "Global Revenue Cycle Management Market - Trends Analysis, Company Usability Profiles & Forecasts to 2024", published by 360iResearch, states that the global market was valued at USD 44.76 billion in 2016 and is projected to reach USD 112.56 billion by 2024, growing at a CAGR of 12.22% from 2016 to 2024.
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The major forces driving the growth of the revenue cycle management market include the simplified and efficient accounting and billing and key advantage over traditional revenue cycle management. Moreover, government enforcement and regulatory mandates is also one of the factors that is driving the market growth. However untrained and unskilled staff, and technical infrastructure support may hinder the market growth. In the middle of difficulty lies opportunity such as the increasing demand for cloud-based rcm, and end-to-end blockchain supported rcm services. The possible challenges for the market growth are data security and privacy concern, and increased m&a in healthcare industry. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on deployment, the global revenue cycle management market is studied across on-cloud, and on-premise. Based on end user, the global revenue cycle management market is studied across emergency medical services, hospitals & care providers, laboratories, and physicians. Based on geography, the global revenue cycle management market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the revenue cycle management market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Allscripts Healthcare Solutions, Inc., CareCloud Corporation, Cerner Corporation, Conifer Health Solutions LLC, Epic Systems Corporation, GE Healthcare, Gebbs Healthcare Solutions, McKesson Corporation, NextGen Healthcare Information System LLC, Quest Diagnostics Incorporated, SSI Group, Inc., athenahealth, Inc., and eClinicalWorks LLC.
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