The Global Back-end Revenue Cycle Management Market is projected to reach $10.4 billion by 2023, at a CAGR of 5.0%
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.
However, the high cost of deployment, integration of back-end revenue cycle management solutions, data breaches and loss of confidentiality, and lack of skilled IT professionals in healthcare are expected to limit market growth to a certain extent in the coming years.
Back-end Revenue Cycle Management Market
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Back-end Revenue Cycle Management Market segmentation:
· based on product & service
· based on software
· based on end users
· based on Delivery Mode
· based on regions.
The Major Players Operating in the Back-end Revenue Cycle Management Market:
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.
McKesson is one of the major players in the market. To sustain its leading position in the market, the company focuses on deploying products in various hospitals and institutes. In line with this, during 2016–2017, the company deployed its products at various healthcare organizations in the US, some of which include Oregon Advanced Imaging (US), Emergency Recovery (US), and the Orthopedic Institute of Wisconsin (OIW) (US).
Geographical Detailed Analysis for Back-end Revenue Cycle Management Market:
North America is expected to hold a significant share in the market during the forecast period
Geographically, the North American market is expected to account for the largest share of the market in 2018. The large share of North America in the Back-end Revenue Cycle Management Market can be attributed to factors such as growing HCIT investments in the region, the presence of regulatory mandates supporting market growth in the US and increasing digitalization and favorable funding initiatives by the Canadian government.
