The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest revenue cycle management software market share.

The global revenue cycle management software market is expected to grow from $46.14 billion in 2022 to $51.03 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The revenue cycle management software market is expected to grow from $76.9 billion in 2027 at a CAGR of 10.8%.

Major Driver In The Revenue Cycle Management Software Market ­– Rise In The Number Of Hospital And Outpatient Visits
According to the National Health spending Projections 2018-2027, the United States’ national healthcare spending is predicted to reach about $6.0 trillion by 2027, expanding at a 5.5% annual pace. The increased frequency of patient visits necessitates the adoption of revenue cycle management software in healthcare institutions, which will provide faster and more accurate claims transmission, allowing for greater flexibility in organising patient care.

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Key Revenue Cycle Management Software Market Segments
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), Other Functions
3)By Deployment: Web based, On premise, Cloud based

Recent Revenue Cycle Management Software Market Trend – Incorporating Artificial Intelligence
Major healthcare analytics leaders are actively developing or intending to implement an AI strategy that will help them make faster choices and decrease operational costs. Cerner, a US-based healthcare technology business, for example, will cooperate with AKASA in May 2022. Cerner customers gained access to AKASA’s AI-based Unified Automation platform, which was designed exclusively for the healthcare industry, as a result of the agreement. AKASA is a revenue cycle management (RCM) automation company situated in the United States.

Revenue Cycle Management Software Market Prominent Players
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.

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The Revenue Cycle Management Software Global Market Report 2023  provides a comprehensive overview on the revenue cycle management software market size, trends and drivers, opportunities, strategies, and companies analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Revenue cycle management is the financial process used by healthcare institutions to track patient care events from registration and appointment scheduling to final payment of a balance using medical billing software.

View More Related Reports –
Software Products Global Market Report 2023
Management Consulting Services Global Market Report 2023
Revenue Cycle Management (RCM) Global Market Report 2023

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