Revenue Cycle Management Market: Competitive Landscape, Changing Market Trends and Emerging Opportunities

The increasing demand for cloud based revenue cycle solution and vendor consolidation to provide end-to-end solution are expected to create opportunities for the players in the market. In addition, immense unexplored market in developing economies are creating abundant opportunities for the revenue cycle management market to grow at a significant rate in the coming years. However, high cost of deployment, lack of data security, limited trained IT personnel, and infrastructural loop holes in developing countries are the key factors hampering the growth of the global market.

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Geographically, North America has been the largest market for revenue cycle management, owing to presence of large number of market players and compliance encouraging the use of revenue cycle management solution in the region. The U.S. contributed largest revenue to the North American as well as global revenue cycle management market. Some of the major trends of the U.S. revenue cycle management market are revenue cycle management outsourcing, single payer systems, and declining reimbursement rates promoting value based payment models and predictive analytics. Increase in recovery audits due to changing healthcare regulations and increased investment in healthcare IT solution are driving the growth of the U.S. revenue cycle management market.

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Globally, the revenue cycle management market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to increasing demand for healthcare insurance, growing geriatric population, increasing prevalence of chronic diseases and increasing demand for better healthcare in the region.

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The key players operating in the global market are Cerner Corporation, McKesson Corporation, Athenahealth Inc., Eclinicalworks LLC., Quest Diagnostics Incorporated, Allscripts Healthcare Solutions Inc., GE Healthcare, and Epic Systems Corporation.

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