NEW YORK, Jan. 24, 2019 /PRNewswire/ --
The back-end revenue cycle management market is projected to grow at a CAGR of 5.0% during the forecast period.
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The global 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%. Growth in the back-end revenue cycle management market can be attributed to factors such as the growing importance of denials management, increasing patient volume, process improvements in healthcare organizations, and declining reimbursement rates. 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.The services segment is expected to hold the largest market share during the forecast period.On the basis of product & service, the back-end revenue cycle management market has been segmented into software and services.The services segment is estimated to witness the highest CAGR during 2018–2023.High growth in this segment can be attributed to the recurring nature of services such as training and development, installation, software upgrades, consulting, and maintenance.The cloud-based delivery mode segment is expected to grow at the highest rate 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 modes.The cloud-based delivery mode segment is estimated to witness the highest CAGR during the forecast period.Cloud-based solutions help healthcare organizations share and integrate information from different locations, and these solutions are less costly to install and maintain than on-premise solutions, which contribute to the high growth and popularity of the cloud-based delivery model.Investments to modernize the healthcare infrastructure in the Asian region are expected to offer growth opportunities in the region.Geographically, the back-end revenue cycle management market is segmented into North America, Europe, Asia, and the Rest of the World.The Asian market is expected to grow at the highest rate during the forecast period.Growth in this region can be attributed to investments to modernize healthcare infrastructures and growing adoption of healthcare IT solutions in China, measures to boost the quality of healthcare delivery in Japan, and rapid growth in the healthcare industry in India.Breakdown of supply-side primary interviews:• By Company Type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%• By Designation: C-level: 35%, Director-level: 25%, and Others: 40%• By Region: North America: 20%, Europe: 25%, APAC: 40%, and RoW: 15%The major players in the market include 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), and nThrive (US).Research CoverageThis report studies the back-end revenue cycle management market based on product & service, delivery mode, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.Key Benefits of Buying the ReportThis report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the back-end revenue cycle management market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.Read the full report: https://www.reportlinker.com/p05726585
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