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The revenue cycle management software market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 10%, as per The Business Research Company’s market report!

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The Revenue Cycle Management Software Market Size In 2022 And Forecast

The global revenue cycle management software market is expected to grow from $41.72 billion in 2021 to $46.14 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The revenue cycle management software market is expected to reach $69.16 billion in 2026 at a CAGR of 10.6%.

The revenue cycle management software market consists of sales of revenue cycle management software services by entities (organizations, sole traders and partnerships) that provide revenue cycle management, which is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance.

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Rise In The Number Of Hospital And Outpatient Visits Is Driving The Growth Of The Revenue Cycle Management Software Market

According to the National Health Expenditure Projections 2018-2027, the USA national healthcare expenditure is expected to reach nearly $6.0 trillion by 2027, growing at an average rate of 5.5% annually, during the period. The increase in the number of patient visits impels the healthcare service providers to adopt revenue cycle management software in healthcare facilities that will provide faster and more accurate claims transmission allowing flexibility in arranging patient care.

Competitive Landscape And The Regional Analysis Of The Revenue Cycle Management Software Market

Major players in the revenue cycle management software market are Accretive Health, Billing Blues, 3M Health Information Systems, QWay Health, MedSecretery, Medserv, Medical Accounting Services, Patient Billing, R1 RCM and Australian Medical Billing Service.

The Revenue Cycle Management Software Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the revenue cycle management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the revenue cycle management software market.

Incorporating Artificial Intelligence – A Key Trend In The Revenue Cycle Management Software Market

Major healthcare analytics leaders are actively implementing or planning to execute an AI strategy that will help make decisions faster and reduce operational expenses.

Revenue Cycle Management Software Market Segmentation By The Business Research Company

1) By Product: Integrated, Standalone

2) By Function: Claim And Denial, Medical Biling And Coding, Patient Insurance Eligibility Check, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Others

3)By Deployment: Web Based, On Premise, Cloud Based

Here Are Some Reports Related To The Revenue Cycle Management Software Market –

Healthcare Services Global Market Report 2022

Payer Services Global Market Report 2022

Medical Billing Outsourcing Global Market Report 2022

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