Technology Spending on Revenue Cycle Management Market Will be Worth US$51.56 bn by 2024

McKesson Corporation, Allscripts, Cerner Corporation, and Optum Health, Inc. were the leading players in the global market for technology spending on revenue cycle management in 2015. These key companies show the common strengths in having built strong distribution channels and effective long-term partnerships.

According to a research report released by Transparency Market Research, technology spending on revenue cycle management is expected to experience a buildup in competitive rivalries over time, owing to the entry of more players into the global market. The market is in a very expansive stage, which coupled with the recent positive changes in the regulatory scenario, have created a very advantageous position for a lot of new entrants. The global market for technology spending on revenue cycle management is expected to reach US$51.56 bn by 2024. It is expected to expand at an optimistic CAGR of 6.9% within a forecast period from 2016 to 2024, and was calculated at US$28.50 bn at the end of 2015.

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Staggering Advantages Pull Healthcare Organizations towards Revenue Cycle Management Solutions

“Of the many plus points that go with a standard revenue cycle management solution, the leading factor that a lot of healthcare organizations are looking for is better revenue generation. Claims get processed much faster under revenue cycle management solutions, along with a speedy denial management, thereby helping an organization generate a higher resolution rate. Thus, time saved becomes money earned and that is what is driving the global market for technology spending on revenue cycle management currently,” states a TMR analyst.

Another driver for the global technology spending on revenue cycle management market is the greater efficiency achieved in carrying out medical practice. When a revenue cycle management solution is implemented, a hospital can shift their focus off patient billing and paperwork, thereby becoming a more patient-centric organization and thus improving patient recovery outcomes. The implementation of a revenue cycle management solution can also allow a healthcare organization to safely adhere to the current state of regulatory structures. Since these processes are needed to by in sync with any changes in regulations, the organization can rest assured that all rules and requirements are satisfied through the implementation of RCM solutions.

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Complexity of RCM Solutions may Stifle Administrative Processes even Further
One of the core restraints acting on the global market for technology spending on revenue cycle management is the complexity of these solutions. A lot of claims submission processes involve tedious iterations of rework. Combined with the long and erroneous processes of data collection and other manual processes, the incorporation of a revenue cycle management solution into this will add to the errors that accumulate. On an average, close to 30% of all physician claims are erroneous and 15% of the claims may even get lost in the processes. The addition of a revenue cycle management solution to such an inaccurate data generation stream can only cause inaccurate results to be posted, thereby restricting the overall advantages that these solutions can bring to the table.
“Players in the global market for technology spending on revenue cycle management can look forward to operating in emerging economies of the Asia Pacific over the coming years. The rate at which the healthcare industry is evolving can bring about optimistic strategies in the implementation of revenue cycle management solutions in these countries,” adds the analyst.

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Technology Spending on Revenue Cycle Management Market: Competitive Dynamics & Global Outlook 2024

Global Technology Spending on Revenue Cycle Management: Overview
This report provides forecast and analysis of the technology spending on revenue cycle management at the global and regional levels. It provides historical data of 2015 along with forecast from 2016 to 2024 in terms of spending (US$ Mn). The report also includes macroeconomic indicators along with an outlook on technology spending on revenue cycle management. It includes drivers and restraints of revenue cycle management and impact in each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for revenue cycle management vendors. It also includes the workflow process with a list of vendors and industry stakeholders.
In order to provide users of this report with a comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The dashboard provides a detailed comparison of revenue cycle management vendors on parameters such as collective market share and geographic concentration. The study encompasses market attractiveness analysis by platform, by solution, by deployment, by end users and by region.
This 247 page report gives readers a comprehensive overview of the technology spending on revenue cycle management market. Browse through 48 data tables and 128 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/technology-spending-revenue-cycle-management.html
Global Technology Spending on Revenue Cycle Management: Scope of the Study
The report includes revenue generated from sales of revenue cycle management solutions in all regions and important countries in these regions. By platform, the Technology spending on revenue cycle management has been segmented into integrated and stand-alone platforms. By solution, the Technology spending on revenue cycle management has been segmented into in-house and outsource. The in-house segment is further divided into hardware, software, and services. By deployment, the Technology spending is segmented into cloud-based and on-premise. On the basis of end users, the Technology spending on revenue cycle management is segmented into payers and providers. The payer segment is further divided into insurance companies, government, and others and the provider segment is further divided into hospitals, ambulatory surgical centers and clinics and others (DME companies, HME companies, and healthcare specialty processes). On the basis of region, the Technology spending is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
Data has been estimated based on the Technology spending on revenue cycle management solutions, and the revenue is derived through regional pricing trends. Technology spending and forecasts for each segment have been provided in the context of global and regional markets.
Global Technology Spending on Revenue Cycle Management: Research Methodology
The Technology spending on revenue cycle management has been analyzed based on expected demand. Prices considered for the calculation of revenue are regional average prices obtained through primary quotes from numerous vendors. All key end users have been considered, and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been taken into account while determining the Technology spending by various end users of revenue cycle management solutions in different regions. Top-down approach has been used to estimate the Technology spending on revenue cycle management by region. Market numbers for platform, solution and deployment segments have been derived using the bottom-up approach, which is cumulative of each region’s demand. The company-level share has been derived on the basis of revenues reported by key vendors. The market has been forecast based on constant currency rates.
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A number of primary and secondary sources were consulted during the course of the study. Secondary sources include press releases, company news, Google Books, company annual reports, white papers, Factiva, other websites, and publications.
The report provides detailed competitive and company profiles of some of the key participants operating in the global market. Some of the players in the revenue cycle management include McKesson Corporation, Cerner Corporation, Allscripts, Perot Systems (a NTT DATA company), CPSI, 3M, TriZetto Corporation, and DST Systems, Inc.

Technology Spending on Revenue Cycle Management Market: Trends, Opportunities and Forecasts 2024

McKesson Corporation, Allscripts, Cerner Corporation, and Optum Health, Inc. were the leading players in the global market for technology spending on revenue cycle management in 2015. These key companies show the common strengths in having built strong distribution channels and effective long-term partnerships.

According to a research report released by Transparency Market Research, technology spending on revenue cycle management is expected to experience a buildup in competitive rivalries over time, owing to the entry of more players into the global market. The market is in a very expansive stage, which coupled with the recent positive changes in the regulatory scenario, have created a very advantageous position for a lot of new entrants. The global market for technology spending on revenue cycle management is expected to reach US$51.56 bn by 2024. It is expected to expand at an optimistic CAGR of 6.9% within a forecast period from 2016 to 2024, and was calculated at US$28.50 bn at the end of 2015.

This 247 page report gives readers a comprehensive overview of the technology spending on revenue cycle management market. Browse through 48 data tables and 128 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/technology-spending-revenue-cycle-management.html

Staggering Advantages Pull Healthcare Organizations towards Revenue Cycle Management Solutions

“Of the many plus points that go with a standard revenue cycle management solution, the leading factor that a lot of healthcare organizations are looking for is better revenue generation. Claims get processed much faster under revenue cycle management solutions, along with a speedy denial management, thereby helping an organization generate a higher resolution rate. Thus, time saved becomes money earned and that is what is driving the global market for technology spending on revenue cycle management currently,” states a TMR analyst.

Another driver for the global technology spending on revenue cycle management market is the greater efficiency achieved in carrying out medical practice. When a revenue cycle management solution is implemented, a hospital can shift their focus off patient billing and paperwork, thereby becoming a more patient-centric organization and thus improving patient recovery outcomes. The implementation of a revenue cycle management solution can also allow a healthcare organization to safely adhere to the current state of regulatory structures. Since these processes are needed to by in sync with any changes in regulations, the organization can rest assured that all rules and requirements are satisfied through the implementation of RCM solutions.

Complexity of RCM Solutions may Stifle Administrative Processes even Further

One of the core restraints acting on the global market for technology spending on revenue cycle management is the complexity of these solutions. A lot of claims submission processes involve tedious iterations of rework. Combined with the long and erroneous processes of data collection and other manual processes, the incorporation of a revenue cycle management solution into this will add to the errors that accumulate. On an average, close to 30% of all physician claims are erroneous and 15% of the claims may even get lost in the processes. The addition of a revenue cycle management solution to such an inaccurate data generation stream can only cause inaccurate results to be posted, thereby restricting the overall advantages that these solutions can bring to the table.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving technology spending on revenue cycle management market during 2016 - 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17597

“Players in the global market for technology spending on revenue cycle management can look forward to operating in emerging economies of the Asia Pacific over the coming years. The rate at which the healthcare industry is evolving can bring about optimistic strategies in the implementation of revenue cycle management solutions in these countries,” adds the analyst.

The information presented in this review is based on a Transparency Market Research report, titled, “Technology Spending on Revenue Cycle Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Technology Spending on Revenue Cycle Management Market: Competitive Dynamics & Global Outlook 2024

Global Technology Spending on Revenue Cycle Management: Snapshot

The global technology spending on revenue cycle management is primarily being driven by the wide array of advantages that their implementation can offer, such as increase in revenue generation, better efficiency in healthcare practices, easier compliance with industry norms and regulations, and greater accuracy and easier access to healthcare IT systems. However, its market is currently being restricted by a host of issues, including the inability to handle uninsured patients, the losses and increased pressure incurred due to changes in regulations, the low mobility of a system in response to shifting market dynamics, and the overall concerns regarding the integrity and security of data.

The current trends in the global market for technology spending on revenue cycle management include a growing use of credit card programs that can aid and cover a greater percentage of a national population and allow healthcare organizations to access their medical data faster. The global market for technology spending on revenue cycle management is expected to reach an evaluation of US$51.56 bn by the end of 2024. It was calculated at US$28.50 bn at the end of 2015 and is expected to expand at a healthy CAGR of 6.9% within a forecast period from 2016 to 2024.

Obtain Report Details: http://www.transparencymarketresearch.com/technology-spending-revenue-cycle-management.html

Companies Going for Cloud-based Revenue Cycle Management

Revenue cycle management can be dissected into integrated and stand-alone, on the basis of platforms. An integrated platform for revenue cycle management is a combined system for a healthcare organization’s financial performance management, a patient’s electronic health records (EHR), and business intelligence tools, all collected under a single revenue cycle solution. A stand-alone platform in revenue cycle management, on the other hand, can work independently of other solutions or software. It works individually without requiring patient health records or medical records integration. Based on deployment, revenue cycle management is segmented into cloud-based and on-premise. Cloud-based deployment is trending and has greater growth opportunities in the forecast years due to its accessibility and lower costs.

APAC Grows Stronger in Demand for Revenue Cycle Management

North America played the leading role among all key regions in technology spending on revenue cycle management in 2015. However, over the coming years, technology spending on revenue cycle management in Asia Pacific will exhibit the leading CAGR of 8.5%, between 2016 and 2024. Asia Pacific is therefore expected to hold an important position in the sustainable growth of the global technology spending on revenue cycle management industry over the above forecast period.

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The Asia Pacific region is still relatively behind in terms of adoption and development of new technologies. Although the expenditures on technology in modern revenue cycle management is currently low in the region, the market is expected to grow substantially, owing to factors such as the positive modulations in global regulatory reforms, the evolving economic scenario and its consequent increase in purchasing power of consumers and enterprises, growing awareness of the advantages of modern revenue cycle management processes and the presence of a large and growing number of patients suffering from various chronic disorders. Japan currently represents a highly lucrative market in terms of spending, compared to the rest of the APAC nations.

Cerner Corporation, McKesson Corporation, DST Systems, Inc., Allscripts, 3M, and Perot Systems have been some of the key players that have led the global market in technology spending on revenue cycle management. A large number of the more prominent entities from this market are known to be located within the U.S.

Technology Spending on Revenue Cycle Management Market: Companies Going for Cloud-based Revenue Cycle Management

Global Technology Spending on Revenue Cycle Management: Snapshot

The global technology spending on revenue cycle management is primarily being driven by the wide array of advantages that their implementation can offer, such as increase in revenue generation, better efficiency in healthcare practices, easier compliance with industry norms and regulations, and greater accuracy and easier access to healthcare IT systems. However, its market is currently being restricted by a host of issues, including the inability to handle uninsured patients, the losses and increased pressure incurred due to changes in regulations, the low mobility of a system in response to shifting market dynamics, and the overall concerns regarding the integrity and security of data.

The current trends in the global market for technology spending on revenue cycle management include a growing use of credit card programs that can aid and cover a greater percentage of a national population and allow healthcare organizations to access their medical data faster. The global market for technology spending on revenue cycle management is expected to reach an evaluation of US$51.56 bn by the end of 2024. It was calculated at US$28.50 bn at the end of 2015 and is expected to expand at a healthy CAGR of 6.9% within a forecast period from 2016 to 2024.

Obtain Report Details: http://www.transparencymarketresearch.com/technology-spending-revenue-cycle-management.html

Companies Going for Cloud-based Revenue Cycle Management

Revenue cycle management can be dissected into integrated and stand-alone, on the basis of platforms. An integrated platform for revenue cycle management is a combined system for a healthcare organization’s financial performance management, a patient’s electronic health records (EHR), and business intelligence tools, all collected under a single revenue cycle solution. A stand-alone platform in revenue cycle management, on the other hand, can work independently of other solutions or software. It works individually without requiring patient health records or medical records integration. Based on deployment, revenue cycle management is segmented into cloud-based and on-premise. Cloud-based deployment is trending and has greater growth opportunities in the forecast years due to its accessibility and lower costs.

APAC Grows Stronger in Demand for Revenue Cycle Management

North America played the leading role among all key regions in technology spending on revenue cycle management in 2015. However, over the coming years, technology spending on revenue cycle management in Asia Pacific will exhibit the leading CAGR of 8.5%, between 2016 and 2024. Asia Pacific is therefore expected to hold an important position in the sustainable growth of the global technology spending on revenue cycle management industry over the above forecast period.

Fill the form for an exclusive sample of this report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17597

The Asia Pacific region is still relatively behind in terms of adoption and development of new technologies. Although the expenditures on technology in modern revenue cycle management is currently low in the region, the market is expected to grow substantially, owing to factors such as the positive modulations in global regulatory reforms, the evolving economic scenario and its consequent increase in purchasing power of consumers and enterprises, growing awareness of the advantages of modern revenue cycle management processes and the presence of a large and growing number of patients suffering from various chronic disorders. Japan currently represents a highly lucrative market in terms of spending, compared to the rest of the APAC nations.

Cerner Corporation, McKesson Corporation, DST Systems, Inc., Allscripts, 3M, and Perot Systems have been some of the key players that have led the global market in technology spending on revenue cycle management. A large number of the more prominent entities from this market are known to be located within the U.S.