Global Healthcare Revenue Cycle Management Market to reach $100bn by 2024: Fractovia.org
The research report “Healthcare Revenue Cycle Management Market Size By Product (Integrated, Standalone), By Deployment (On-Premise, Cloud Based), By Component (Services, Software), By End User (Hospitals, Physicians, Diagnostic & Ambulatory Care Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2016 - 2024� by Global Market Insights, Inc. says Healthcare Revenue Cycle Management Market size is set to register a CAGR of 11% over the period of 2016-2024. Healthcare revenue cycle management market size is poised to witness a remarkable growth over the coming seven years. HRCM is recognized as the most important entity in the healthcare technology infrastructure. Revenue cycle management is a vital part of any business wherein the organization favors outsourcing of financial accounts. In this case, HRCM solutions can prove helpful to save both time and money, which in turn is augmenting healthcare revenue cycle management industry. HRCM systems provide integrated solutions to eliminate the billing errors and complex medical coding, which will significantly boost global industry trends.
The convergence of healthcare sector with cloud-based systems has come up to be a perfect combination in providing effective management. Cloud-based solutions held over 75% of the overall industry share and is foreseen to surpass USD 80 billion by 2024. In comparison to on premise systems, the cloud-based systems are less expensive, as they eliminate the IT hardware and IT support staff costs. In 2015, services dominated the component segment of healthcare revenue cycle management market by covering more than 63% of the global revenue contribution and is likely to generate a revenue of USD 70 billion by 2024. Periodic upgradation in software components will also contribute substantially toward the industry growth over the coming timeframe.
1|Page