According to a research report, the global healthcare RCM market is projected to register a CAGR of 12.2 percent over the estimated period of 2017-2027.
FREMONT, CA: In recent years, healthcare revenue cycle management (RCM) software has gained profound significance in the healthcare field. Healthcare revenue cycle management is software that administers and simplifies all clinical and administrative functions comprising patient registration, claims process, payment, medical documentation, revenue generation, insurance verification, and accounts receivable and collections.
Additionally, according to a research report, the global healthcare RCM market is projected to register a CAGR of 12.2 percent over the estimated period of 2017-2027.
The global healthcare RCM market is segmented on component, deployment, end-users, and product types.
• Based on deployment, the RCM market is divided into on-premises and cloud-based.
• Depending on the component, the business is categorized into software and services.
• Based on the product types, the business is divided into integrated software and standalone software.
• On the basis of end-users, the marketplace is shared into ambulatory services, hospitals, and others.
By region, the global healthcare RCM market has been segmented into America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). America contributes significantly to the universal healthcare RCM management market. The presence of fast uptake of the latest technologies and reliable healthcare infrastructure works in support of market growth. Moreover, the region is home to key market players that gives it leverage over other sections. Considerable healthcare expenditure also assists in market growth.
Europe, on the other hand, accounts for having the second most significant share of the market. Increase in the government support for research and development along with elevated healthcare expenditure are prime factors spurring the expansion of the market.
APAC is lined up to register the fastest development over the forecast period. High healthcare expenses by the emerging economies of the state and sprouting medical tourism setting in the region are credited for the growth of the business. Subsequently, the MEA market is lagging and is probable to display limited development over the anticipated period.