Revenue cycle management or RCM is a combination of revenue generation, payment, and claims processing. In layman’s terms, it is a healthcare system’s financial system. Its components include all clinical and administrative functions that consist of the management, collection, and capture of revenue gained from patient service. It is primarily the entire lifespan of a patient account in a healthcare organization. Revenue cycle management incorporates the use of specific technological tools to track claims throughout patient’s lifecycle, ensuring that the payments are collected without any hurdle, and claims are addressed successfully. RCM tools let healthcare providers do the billing and identify issues quickly, thereby allowing for the secure stream of revenue. A system that runs efficiently thwarts rejection of claims and preserves an efficient and transparent billing process. Revenue cycle management also includes everything from deciding on patient’s insurance adequacy and eligibility to regulating claims through ICD-10.

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Rising incidences of hospitalizations will drive the overall healthcare revenue cycle management market:
According to the American Hospital Association, the total number of registered hospitals in the U.S. was 5,564 in 2015. Moreover, it states that in 2015, the total number of admissions in these hospitals was 35,061,292, i.e. around 35 million patients. Increasing number of hospitalizations, in turn fuels growth of the global healthcare revenue cycle management systems market. Maintaining well organized records of patients is the need of the hour. Additionally, the emerging economies, especially countries such as China and India are likely to show significant growth prospects over the course of the forecast period. Increasing spends on healthcare, availability and accessibility of better healthcare facilities, increasing incidence of diseases and the rising importance of studying historical patient profile across the healthcare industry will augment the overall growth of the market. Government initiates and strict regulatory framework will shape the future of the global healthcare revenue cycle management market.
Competitors Analysis:
• GE Healthcare
• Experian PLC.
• Eclinicalworks LLC
• Mckesson Corporation
• Cerner Corporation
• Gebbs Healthcare Solutions
• Conifer Health Solutions LLC
• Epic Systems Corporation
• Quest Diagnostics Incorporated
• Allscripts Healthcare Solutions Inc.
• Athenahealth Inc.

Healthcare Revenue Cycle Management Market Taxonomy:
On the basis of deployment, the global healthcare RCM market is classified into:
◦ On-Premise
◦ Cloud-Based
◦ Web-Based
◦ Others
On the basis of component, the global healthcare RCM market is classified into:
◦ Software
◦ Services
On the basis of product type, the global healthcare RCM market is classified into:
◦ Standalone
◦ Integrated
◦ Others
On the basis of end user, the global healthcare RCM market is classified into:
◦ Hospitals
◦ Laboratories
◦ Physicians
◦ Others
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