Revenue Cycle Management Software Global Market Sees Growth Rate Of 11% Through 2022
16 Feb, 2022
The global revenue cycle management software market size is expected to grow from $41.72 billion in 2021 to $46.14 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The RCM software market is expected to reach $69.16 billion in 2026 at a CAGR of 10.6%.
What is the Global Revenue Cycle Management Software Market?
The revenue cycle management software market consists of sales of revenue cycle management software services by entities (organizations, sole traders and partnerships) that provide revenue cycle management, which is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. Only goods and services traded between entities or sold to end consumers are included.
Get a Sample of the global revenue cycle management software market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3377&&type=smp
What drives the Global Revenue Cycle Management Software Market?
The rise in the number of hospital and outpatient visits is expected to drive the revenue cycle management software market. Surging healthcare expenditure from an increase in patient visits to the hospital urges the service providers to provide hassle-free services during payment and keep a record of patients’ payments. According to the National Health Expenditure Projections 2018-2027, the USA national healthcare expenditure is expected to reach nearly $6.0 trillion by 2027, growing at an average rate of 5.5% annually, during the period. The increase in the number of patient visits impels the healthcare service providers to adopt revenue cycle management software in healthcare facilities that will provide faster and more accurate claims transmission allowing flexibility in arranging patient care.
Get the full global revenue cycle management software industry report here:
https://www.thebusinessresearchcompany.com/report/revenue-cycle-management-software-global-market-reportGlobal Revenue Cycle Management Software Market Segments
The global revenue cycle management software market is segmented:
By Product: Integrated, Standalone
By Function: Claim and Denial, Medical Billing and Coding, Patient Insurance Eligibility Check, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Others
By Deployment: Web-Based, On Premise, Cloud-Based
By Geography: The regions covered in the revenue cycle management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Revenue Cycle Management Software Global Market Report 2022provides market size and growth forecasts for the global revenue cycle management software market, global revenue cycle management software market share, revenue cycle management software market segments and geographies, revenue cycle management software market competitive landscape including leading competitors’ revenues, profiles and market shares. The revenue cycle management software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Revenue Cycle Management Software Industry Playersinclude Accretive Health, Billing Blues, 3M Health Information Systems, QWay Health, MedSecretery, Medserv, Medical Accounting Services, Patient Billing, R1 RCM and Australian Medical Billing Service. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.