Global Healthcare Revenue Cycle Management (RCM) Software Market 2019-2023

Global Healthcare Revenue Cycle Management (RCM) Software Market 2019-2023

  • May 2019 •
  • 127 pages •
  • Report ID: 4973880 •
  • Format: PDF
About this market

The increase in healthcare-related spending is one of the key factors expected to trigger the market growth during the forecast period. Healthcare RCM software and EHRs are integrated into digital and paperless systems in hospitals for storing patient information. In addition, healthcare service providers are also investing in advanced IT solutions for supporting Health 3.0 revolution, which provides a holistic IT ecosystem in clinics and hospitals. As a result, the increasing number of virtual, digital, and paperless systems will eventually drive the need for digital and electronic equipment for maintaining patient records and integrating RCM software for managing the RCM of hospitals. Analysts have predicted that the healthcare revenue cycle management software market will register a CAGR of over 6% by 2023.

Market Overview

Increase in healthcare-related spending

With the growing number of hospitals globally and the increasing investments in digitization, the demand for healthcare RCM software from healthcare service providers is expected to increase during the forecast period.

Interoperability issues associated with healthcare RCM software

The growing issue with healthcare RCM software interoperability has increased the number of denials, leading to reduced generation decreased operational efficiency for healthcare service providers. This will hinder the growth of the market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the healthcare revenue cycle management (RCM) software market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented with the presence of several market players. Healthcare RCM solutions providers are integrating advanced technologies such as blockchain and AI into their healthcare RCM software to provide real-time tracking and improve the organization’s revenue cycle. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.