Albany, NY -- (SBWire) -- 01/03/2018 --The global technology spending on revenue cycle management is primarily being driven by the wide array of advantages that their implementation can offer, such as increase in revenue generation, better efficiency in healthcare practices, easier compliance with industry norms and regulations, and greater accuracy and easier access to healthcare IT systems.
Global Technology Spending on Revenue Cycle Management: Overview
This report provides forecast and analysis of the technology spending on revenue cycle management at the global and regional levels. It provides historical data of 2015 along with forecast from 2016 to 2024 in terms of spending (US$ Mn). The report also includes macroeconomic indicators along with an outlook on technology spending on revenue cycle management. It includes drivers and restraints of revenue cycle management and impact in each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for revenue cycle management vendors. It also includes the workflow process with a list of vendors and industry stakeholders.
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In order to provide users of this report with a comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The dashboard provides a detailed comparison of revenue cycle management vendors on parameters such as collective market share and geographic concentration. The study encompasses market attractiveness analysis by platform, by solution, by deployment, by end users and by region.
Global Technology Spending on Revenue Cycle Management: Scope of the Study
The report includes revenue generated from sales of revenue cycle management solutions in all regions and important countries in these regions. By platform, the Technology spending on revenue cycle management has been segmented into integrated and stand-alone platforms. By solution, the Technology spending on revenue cycle management has been segmented into in-house and outsource. The in-house segment is further divided into hardware, software, and services. By deployment, the Technology spending is segmented into cloud-based and on-premise. On the basis of end users, the Technology spending on revenue cycle management is segmented into payers and providers. The payer segment is further divided into insurance companies, government, and others and the provider segment is further divided into hospitals, ambulatory surgical centers and clinics and others (DME companies, HME companies, and healthcare specialty processes). On the basis of region, the Technology spending is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
Data has been estimated based on the Technology spending on revenue cycle management solutions, and the revenue is derived through regional pricing trends. Technology spending and forecasts for each segment have been provided in the context of global and regional markets.
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Global Technology Spending on Revenue Cycle Management: Research Methodology
The Technology spending on revenue cycle management has been analyzed based on expected demand. Prices considered for the calculation of revenue are regional average prices obtained through primary quotes from numerous vendors. All key end users have been considered, and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been taken into account while determining the Technology spending by various end users of revenue cycle management solutions in different regions. Top-down approach has been used to estimate the Technology spending on revenue cycle management by region. Market numbers for platform, solution and deployment segments have been derived using the bottom-up approach, which is cumulative of each region's demand. The company-level share has been derived on the basis of revenues reported by key vendors. The market has been forecast based on constant currency rates.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include press releases, company news, Google Books, company annual reports, white papers, Factiva, other websites, and publications.
The report provides detailed competitive and company profiles of some of the key participants operating in the global market. Some of the players in the revenue cycle management include McKesson Corporation, Cerner Corporation, Allscripts, Perot Systems (a NTT DATA company), CPSI, 3M, TriZetto Corporation, and DST Systems, Inc.
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The market has been segmented as below:
Global Technology Spending on Revenue Cycle Management – By Platform
Integrated
Stand-Alone
Global Technology Spending on Revenue Cycle Management – By Solution
In-House
Hardware
Software
Services
Outsource
Global Technology Spending on Revenue Cycle Management – By Deployment
Cloud-Based
On-Premise
Global Technology Spending on Revenue Cycle Management – By End Users
Payers
Insurance Companies
Government
Others
Providers
Hospitals
ASC's and Clinics
Others
Global Technology Spending on Revenue Cycle Management – By Region
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa (MEA)
Saudi Arabia
UAE
RSA
Rest of Middle East & Africa
Technology Spending on Revenue Cycle Management Market Expected to Reach US$51.56 Bn by 2024: Technology Advancement to Drive Stronger in Demand
Technology spending on revenue cycle management market expected to expand at an optimistic CAGR of 6.9% within a forecast period from 2016 to 2024, and was calculated at US$28.50 bn at the end of 2015.