Back-end Revenue Cycle Management Market Worth $10.4 billion | Process Improvements in Healthcare Organizations

PUNE, India, 2020-Jun-09 — /EPR Network/ —

[136 Pages Report] The Back-end Revenue Cycle Management Market is projected to reach $10.4 billion, at a CAGR of 5.0%

Back-end RCM Market Dynamics:-

Integration of back-end revenue cycle management solutions

The information-intensive nature of data in the healthcare industry has highlighted a need for integration at all levels to ensure that data is collated and compiled into a single exhaustive and accurate patient record. This also applies to back-end revenue cycle management solutions due to the need to maintain end-to-end records—from registration and appointment scheduling to final payment.

However, integrating a new back-end revenue cycle management solution with a healthcare organization’s legacy information management systems is a difficult task for market players. This is because of the differences in data communication standards, owing to which a number of information systems are unable to exchange data. Issues related to effective integration are thus a major challenge limiting the successful utilization of back-end revenue cycle management solutions.

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Back-end Revenue Cycle Management Market Segmentation in Depth:

On the basis of product & service, the market is segmented into software and services. The services segment is estimated to witness the highest CAGR during 2018–2023. The high growth of this segment is primarily due to the recurring nature of services such as training and development, installation, software upgrades, consulting, and maintenance.

By software, the market is broadly segmented into integrated and standalone software. In 2018, the integrated software segment is expected to account for the largest share of the market. The large share of this segment can be attributed to the ability of integrated solutions to help users to streamline and coordinate multiple financial functions through a single platform.

By end user, the market is segmented into healthcare payers and healthcare providers. In 2018, the healthcare payers segment is expected to account for the largest share of the market. Insurance providers need to comply with various federal and regional laws and regulations.

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Geographically, the back-end revenue cycle management market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share in 2018 owing to factors such as growing HCIT investments in the region and the presence of regulatory mandates. North America is followed by Europe and Asia. The market in Asia is relatively nascent; however, it is projected to be the fastest-growing market during the forecast period.

Athenahealth (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), eClinicalWorks (US), Optum, Inc. (US), McKesson Corporation (US), Conifer Health Solutions (US), GeBBs Healthcare Solutions (US), The SSI Group (US), GE Healthcare (US), nThrive (US), DST Systems (US), Cognizant Technology Solutions (US), and Quest Diagnostics (US) are the key players in the back-end revenue cycle management market.