REVENUE CYCLE MANAGEMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Revenue Cycle Management Market, By Type (Standalone and Integrated), By Deployment (Cloud and On Premise), By Component (Software and Service), By Function (Appointment Scheduling, Claims & Denial Management, Medical Coding & Billing, Network Management, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centres, Diagnostics & Imaging Centres, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Mar 2024
Code : CMI6803
Pages :163
Formats :
Excel and PDF
Industry : Healthcare IT

Market Concentration and Competitive Landscape

Revenue Cycle Management Market Concentration By Players

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Increasing regulatory compliance requirements

Healthcare regulations in the U.S. are becoming more and more complex each year with rules around billing codes, eligibility checks, timely filing, Electronic Remittance Advice/Explanations of Payment (ERA/EOP) compliance, etc. Staying on top of this regulatory maze is challenging for most providers. Non-compliance can result in denied claims, penalties, and audits. At the same time, the root issue of rising healthcare costs is forcing the government to tighten oversight on revenues and wasteful spending. To address fraudulent and abusive billing practices, agencies like CMS, OIG, and ONC are empowering patients with tools to verify bills and dispute inaccurate charges. Revenue cycle solutions automate frequently changing rulesets so billing happens flawlessly the first time without errors or rebilling. They help providers integrate with various payer clearinghouses, submit standardized transactions, and address issues pre-emptively before audits. With regulations showing no signs of slowing down, optimization of the revenue cycle is important for hospitals to remain compliant and face less scrutiny from regulatory bodies.

Key Players Insights