As reimbursement methodologies change, calls for transparency increase, and consumers bear greater financial responsibility for their healthcare bills, the importance of RCM will only continue to increase.
Here are five findings on the global RCM market, as stated in a recent market research report.
1. The global RCM market is expected to reach $7.1 billion by 2020, at a compound annual growth rate of 11.8 percent from 2015 to 2020.
2. Growing investments in healthcare IT and consolidation of healthcare providers are major factors influencing the growth of the global RCM market.
3. The global RCM market accounted for a share of 35.5 percent of the global healthcare provider IT market in 2014.
4. In 2014, North America accounted for the highest share in the global RCM market. According to the report, increased investments in health IT solutions are expected to fuel the growth of the global RCM market in this region.
5. Major players in the global RCM market include:
- McKesson
- Cerner
- Quest Diagnostics
- Athenahealth
- Allscripts
- eClinicalWorks
- CareCloud
- The SSI Groups
- Epic
- Kareo
More articles on finance and revenue cycle management:
Obama administration grants Texas 15-month Medicaid waiver extension
Riley Hospital to offer maternity services
MedData acquires Duet Health