1. Europe revenue cycle management market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.9% in the forecast period of 2022 to 2029 and is expected to reach USD 21,948.58 million by 2029.
2.The Revenue Cycle Management (RCM) Market Scope and Size
- On the basis of product & services, the Europe revenue cycle management market has been segmented into solutions & outsourcing services. In 2022, solutions segment is expected to dominate the Europe revenue cycle management market, due to increasing adoption of revenue cycle management solutions for saving time, improving patient experience and others. Revenue cycle management solutions helps healthcare providers to create a better experience for patients and administrative staff contributing to the growth of the segment in the market.
- On the basis of delivery mode, the Europe revenue cycle management market has been segmented into on-premise solutions and cloud-based solutions. In 2022, on-premise solutions segment is expected to dominate the Europe revenue cycle management market, owing to better data security and protecting unauthorized access of user’s server or workstation.
- On the basis of type, the Europe revenue cycle management market has been segmented into integrated and standalone. In 2022, integrated segment is expected to dominate the Europe revenue cycle management market, owing to rising popularity amongst consumer. Also integrated revenue cycle management solutions eases multi-departmental revenue collections and gives insights on payment experiences.
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3.Revenue Cycle Management (RCM) Market Country Level Analysis
The countries covered in the Europe revenue cycle management market report are the Germany, France, U.K., Spain, Italy, Russia, Switzerland, Netherlands, Turkey, Belgium and Rest of Europe.
Revenue Cycle Management (RCM) market report has been ready supported elaborate market research with inputs from trade specialists. This market survey provides key info regarding the first principle trade, as well as terribly useful and necessary facts and figures, knowledgeable opinions, and therefore the latest developments across the world. Analysis and interpretation of marketing research knowledge performed during this trade analysis report is employed to create report that contains info and data which will be wont to predict future events, future merchandise, promoting strategy, actions or behaviours. Revenue Cycle Management (RCM) market document covers strategic identification of key players within the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
4.Market Analysis and Insights – Europe Revenue Cycle Management (RCM) Market
The Europe Revenue Cycle Management market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies’ focus on the Europe Revenue Cycle Management market.
5.Revenue Cycle Management (RCM) Market Share Analysis
The Details analysis include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weakness, product launch, product width and breadth, application dominance.
Revenue cycle management (RCM) in healthcare industry has fast become a buzzword over the past few years.
It automates the whole procedure with initiation of the process by the patient, quick follow ups, determining the eligibility of the patient, collecting their payment, effective tracking of the claims process, and working on rejected claims among others.
The rising need for streamlining the whole process has further boosted the demand for RCM solutions, thereby triggering the growth of the RCM market.What the RCM Market Looks Like?Revenue Cycle Management Market is expected to reach USD 160.08 billion by 2027 from USD 66.81 billion in 2019, at a CAGR of 12.1%.
The integrated solutions segment is expected to account for the largest share of the global revenue cycle management market in 2019 and is projected to register the highest CAGR during the forecast period.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153900104What’s driving the Market?The growth of the global revenue cycle management market is primarily propelled by the following factors:Declining reimbursement scenariosIncreased initiatives and support from the governmentReduced healthcare costsConsolidation of healthcare providersAlthough this market is set to witness a healthy growth ahead, higher costs of RCM solutions and limited number of investments being made in healthcare IT sector are likely to inhibit the growth of this market over the forecast period.On the basis of function, the market is broadly segmented into claim and denial management, medical billing and coding, patient insurance eligibility check, payment remittance, electronic health record (EHR), clinical documentation improvement (CDI), and others.Regional Analysis:-In 2019, North America is expected to account for the largest share of the global revenue cycle management market.
The large share of this regional segment can be attributed to stringent legislative and accreditation requirements regarding healthcare, high adoption rate of HCIT technologies, and regulatory requirements regarding patient safety.
Europe is expected to account for the second-largest share of the revenue cycle management market.Read more: - https://www.marketsandmarkets.com/PressReleases/revenue-cycle-management.aspTop Key Players:- The key players in the global revenue cycle management market are McKesson (US), Cerner (US), Quest Diagnostics (US), Allscripts Health Solutions (US), and athenahealth (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Imagine putting all your money in a bag with a hole!
But denials, the proverbial holes in the coffers of healthcare businesses are mostly left unmanaged.
Here are some helpful strategies for healthcare businesses to get a better grip on their denial management process.1.
Metrics like Initial denial rate, claims, and dollar rates give you the exact picture of the problem.
So it makes more sense to focus your denial prevention efforts on the initial stages of the cycle.3.
Since the root causes of denials can be buried in the processes and practices of any department, effective denial management demands concerted efforts and shared accountability from all departments and staff.
