Healthcare RCM Market in US 2016-2020

  • ID: 3752427
  • Report
  • Region: United States
  • 60 pages
  • TechNavio
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FEATURED COMPANIES

  • Adreima
  • Allscripts
  • Cardon Outreach
  • GE Healthcare
  • MediRevv
  • Source Medical Solutions
  • MORE
About the Healthcare Revenue Cycle Management Market in US

Healthcare service providers had deployed automated systems to address the RCM processes and to fill the payment gap, resulting from the complex processes of medical billing and collections. IT applications such as hospital information system and EHR have outdated technology platforms that lack the advanced functionalities needed to address RCM issues. The inefficient manner of medical billing and collections resulted in revenue loss for many healthcare organizations. Given the issues pertaining to revenue cycle processes and workflows, hospitals and health systems considered outsourcing their RCM services. This outsourcing of RCM services can ensure maximum collections in the face of growing challenges and reduce the potential revenue leakage for different RCM processes.

The analysts forecast the healthcare revenue cycle management market in US to grow at a CAGR of 12.89% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the healthcare revenue cycle management market in US for 2016-2020. To calculate the market size, we considered revenues generated from the sale of RCM solutions that include software suits that are stand-alone and integrated solutions and services (consultation, outsourcing, training, and maintenance).

The report, Healthcare Revenue Cycle Management Market in US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Allscripts
- Cerner
- GE Healthcare
- McKesson
- SSI Group

Other prominent vendors
- Adreima
- Alleviant
- Avadyne Health
- Cardon Outreach
- Health Systems Management Network
- MediRevv
- Precyse Solutions
- Source Medical Solutions
- Sutherland Global Services
- Syncordia Technologies and Healthcare Solutions
- T-System
- Xerox

Market drivers
- Rise in recovery audits due to changing healthcare regulations
- For a full, detailed list, view the full report

Market challenges
- Frequent changes in healthcare compliance requirements
- For a full, detailed list, view the full report

Market trends
- Strong clinical network connectivity with medical practitioners
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Adreima
  • Allscripts
  • Cardon Outreach
  • GE Healthcare
  • MediRevv
  • Source Medical Solutions
  • MORE
PART 01: Executive summary
  • Key findings
PART 02: Scope of the report
  • Top-vendor offerings
PART 03: Market research methodology
  • Research methodology
  • Economic indicators
PART 04: Introduction
  • Key market highlights
PART 05: RCM
  • Overview
  • Phases of evolution
  • Importance of RCM
PART 06: Revenue leakage in healthcare system
  • RCM in other industries
PART 07: Outsourcing trend
  • Healthcare RCM outsourcing
PART 08: Market developments
  • Major M&A in healthcare RCM market in US
  • Government regulations impacting healthcare RCM market
PART 09: Segmentation by process
  • Integrated RCM
  • Stand-alone RCM
PART 10: Market size and forecast
  • US healthcare RCM market size and forecast
PART 11: Market segmentation by deployment
  • Market overview
  • US healthcare RCM market by deployment 2015-2020
PART 12: Market segmentation by end-user
  • US healthcare RCM market by end-user
PART 13: Buying criteria

PART 14: Market drivers
  • Increase in healthcare needs of older adult population
  • Rise in recovery audits due to changing healthcare regulations
  • Increased need to minimize revenue leakage
PART 15: Impact of drivers

PART 16: Market challenges
  • Selection of vendors according to specific needs
  • Frequent changes in healthcare compliance requirements
  • Limited accessibility to patient records
PART 17: Impact of drivers and challenges

PART 18: Market trends
  • Integration of analytics into healthcare services
  • Strong clinical network connectivity with medical practitioners
  • Increased M&A in healthcare RCM market
PART 19: Five forces analysis

PART 20: Vendor landscape
  • Competitive scenario
  • Category matrix of top RCM vendors in US
PART 21: Key vendor profiles
  • Allscripts
  • Cerner
  • GE Healthcare
  • McKesson
  • SSI Group
PART 22: Other prominent vendors
  • Adreima
  • Alleviant
  • Avadyne Health
  • Cardon Outreach
  • Health Systems Management Network
  • MediRevv
  • Precyse Solutions
  • Source Medical Solutions
  • Sutherland Global Services
  • Syncordia Technologies and Healthcare Solutions
  • T-System
  • Xerox
PART 23: Appendix
  • List of abbreviations
PART 24: About the Author

List of Exhibits
Exhibit 01: Healthcare revenue cycle
Exhibit 02: Canadian dollar/USD conversion rates 2012-2015
Exhibit 03: Product offerings
Exhibit 04: Evolution of healthcare RCM industry
Exhibit 05: Potential areas of revenue leakage in healthcare sector
Exhibit 06: RCM outsourcing services
Exhibit 07: M&A in RCM software industry 2012-2016
Exhibit 08: ICD-10 in other countries
Exhibit 09: Healthcare RCM market by process
Exhibit 10: Healthcare RCM market in US 2015-2020 ($ billions)
Exhibit 11: US healthcare RCM market by deployment 2015 (% share)
Exhibit 12: US healthcare RCM market by deployment 2020 (% share)
Exhibit 13: US healthcare RCM market by deployment 2015-2020 ($ billions)
Exhibit 14: Healthcare RCM market in US by end-user 2015 (% share)
Exhibit 15: Buying criteria
Exhibit 16: Impact of drivers
Exhibit 17: Impact of drivers and challenges
Exhibit 18: Five forces analysis
Exhibit 19: Category matrix of top RCM vendors in US
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FEATURED COMPANIES

  • Adreima
  • Allscripts
  • Cardon Outreach
  • GE Healthcare
  • MediRevv
  • Source Medical Solutions
  • MORE
New Report Released: – Healthcare Revenue Cycle Management Market in US 2016-2020

The author of the report recognizes the following companies as the key players in the healthcare revenue cycle management market in US: Allscripts, Cerner, GE Healthcare, McKesson, and SSI Group.

Other Prominent Vendors in the market are: Adreima, Alleviant, Avadyne Health, Cardon Outreach, Health Systems Management Network, MediRevv, Precyse Solutions, Source Medical Solutions, Sutherland Global Services, Syncordia Technologies and Healthcare Solutions, T-System, and Xerox.

Commenting on the report, an analyst from the research team said: “A key trend influencing market growth is the strong clinical network connectivity with medical practitioners. Clinical integration is the coordination in the healthcare network across people, functions, and activities. Clinical integration with physicians enables healthcare companies to improve the quality and efficiency of the healthcare system. Successful clinical integration between hospitals and physicians helps build a successful payment model as it takes both cost and quality into consideration. Clinical information can be fully integrated with EHR for a seamless transition to new payment models.”

According to the report, a key growth driver is the rise in recovery audits due to changing healthcare regulations. The healthcare sector operates at a very low margin, mostly fluctuating between 3% and 5%. Healthcare service providers are under constant pressure triggered by the changing government regulations in the healthcare space. As a result, they are experiencing an increase in the cost of operations, and their revenues are squeezed. In addition, the providers' revenue is under continuous scrutiny and audit by recovery audit contractors. These contractors are third-party service providers hired by the Centers for Medicare and Medicaid in order to identify illegal payments under fee-for-service Medicare. Due to the continuous audits, the providers' revenue is being squeezed further. To reduce the negative revenue effect of recovery audits, healthcare providers are increasingly outsourcing their RCM process to third-party vendors.

Further, the report states that one challenge that could hamper market growth is the frequent changes in healthcare compliance requirements.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Allscripts
- Cerner
- GE Healthcare
- McKesson
- SSI Group
- Adreima
- Alleviant
- Avadyne Health
- Cardon Outreach
- Health Systems Management Network
- MediRevv
- Precyse Solutions
- Source Medical Solutions
- Sutherland Global Services
- Syncordia Technologies
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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