The global revenue cycle management (rcm) market is expected to reach USD 65.2 billion by 2025. The healthcare system is witnessing a paradigm shift primarily due to the changing dynamics of the business models.
These changing dynamics of the hospital industry in developed regions is expected to involve centralization and digitalization of the back-end processes, thereby demanding the implementation of revenue cycle management, which is anticipated to positively affect the market growth.
The healthcare industry is extremely vast and its centralization will help in synchronizing the entire work process along with providing economic benefits. Almost all industries aim to achieve lean management and six-sigma incorporation in their work culture to optimize resource usage and increase efficiency.
Furthermore, development of value-added services, i.e., integration of RCM system with other healthcare IT solutions such as practice management, Electronic Health Record (EHR), Computerized Physician Order Entry (CPOE) is anticipated to propel demand over the forecast period. For instance, Kareo, Inc. are multiple software enlisted in their portfolio that find high application in integrated solutions along with being used as standalone options.