Healthcare service providers deploy automated systems to address the RCM processes and to fill the payment gap that arises from the processes of medical billing and collections. The IT applications, such as hospital information system and EHR, have outdated technology platforms that lack advanced functionalities needed to address RCM issues. Hospitals and health systems prefer to outsource the RCM services due to the issues pertaining to revenue cycle processes and workflows.
Publisher’s analysts forecast the global Healthcare Revenue Cycle Management (RCM) Software market to grow at a CAGR of 4.50% during the period 2017-2021.
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One of the key drivers witnessed in the market during the projected period is the increasing rate of recovery audits. Healthcare service providers are experiencing a rise in the cost of operations and a reduction in revenues due to the changing government regulations in the healthcare sector. The revenue generation of these healthcare service providers are under continuous scrutiny and audit by recovery audit contractors. These contractors identify illegal payments under Medicare fee-for-service plan. This may result in the negative revenue effect of recovery audits. To reduce the negative revenue effect, healthcare providers highly rely on RCM process. As a result, organizations are encouraged to implement RCM solutions to maintain the audit report.
– GE Healthcare
Other prominent vendors
– Avadyne Health
– Navigant Cymetrix
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– Increase in recovery audits due to changing healthcare regulations
– Selection of vendors to meet specific needs
– Integration of analytics into healthcare services
– Strong clinical network connectivity with medical practitioners
– Increased traction of cloud-based solution among RCM providers
Fundamentals of Table of Content:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global construction market
PART 06: Market drivers
PART 07: Market trends
PART 08: Global AEC market
PART 09: Market segmentation by product
PART 10: Geographical segmentation
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Five forces model
PART 14: Key vendor analysis
PART 15: Key vendor profiles
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Key questions answered in this report
– What will the market size be in 2021 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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