CHICAGO, January 17, 2019 /PRNewswire/ --
According to the new market research report "Back-end Revenue Cycle Management Market by Product and Services (Claim Processing, Denial Management, Payment Integrity), Delivery Mode (On-Premise, Cloud Based), End-User (Payer, Provider (Inpatient, Outpatient)), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Back-end Revenue Cycle Management Market is projected to reach USD 10.4 billion by 2023 from USD 8.1 billion in 2018, at a CAGR of 5.0%.
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Factors such as the growing importance of denials management, increasing patient volume, process improvements in healthcare organizations, and declining reimbursement rates are driving the growth of the Back-end Revenue Cycle Management Market.
Services segment to dominate the Back-end Revenue Cycle Management Market, by product & service, in 2018
By product & service, the Back-end Revenue Cycle Management Market is segmented into software and services. The services segment is expected to account for the largest share of the Back-end Revenue Cycle Management Market in 2018. The large share of this segment can be attributed to the recurring nature of services such as training and development, installation, software upgrades, consulting, and maintenance. However, due to the need for periodic software upgrades, the software segment is expected to witness the highest growth during the forecast period.
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31 - Figures
136 - Pages
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By delivery mode, cloud-based systems to register the highest CAGR during the forecast period
On the basis of delivery mode, the Back-end Revenue Cycle Management Market is segmented into on-premise and cloud-based systems. The cloud-based segment is expected to register the highest CAGR of the Back-end Revenue Cycle Management Market during the forecast period. Growth in this segment can be attributed to the comparatively lower capital expenses and operational costs incurred in this model, alongside its scalability, flexibility, and affordability.
North America to dominate the market in 2018
Geographically, the Back-end Revenue Cycle Management Market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share in 2018 owing to factors such as growing HCIT investments in the region and the presence of regulatory mandates. North America is followed by Europe and Asia. The market in Asia is relatively nascent; however, it is projected to be the fastest-growing market during the forecast period.
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athenahealth (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), eClinicalWorks (US), Optum, Inc. (US), McKesson Corporation (US), Conifer Health Solutions (US), GeBBs Healthcare Solutions (US), The SSI Group (US), GE Healthcare (US), nThrive (US), DST Systems (US), Cognizant Technology Solutions (US), and Quest Diagnostics (US) are the key players in the Back-end Revenue Cycle Management Market.
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