The healthcare revenue cycle management market in the U.S. is projected to grow at a compound annual growth rate of 12.89 percent through 2020, according to a Technavio report.
The growth is attributed to the shift in business processes, reimbursement and payment reforms, accountable care participation, physician practice association, collection issues and declining margins.
"Shifting payment models and changing regulations in the healthcare sector have forced hospitals and medical laboratories to redirect priorities and strategic plans for their organizations," Technavio said.