The revenue cycle management market was valued at nearly $18.3 billion in 2014, and that number is expected to soar to $32.2 billion by 2019, according to a recent report by MicroMarketMonitor.
Below are three takeaways from the RCM market forecast:
1. Factors such as decreasing reimbursement in the healthcare industry and initiatives undertaken by governmental bodies for implementing RCM solutions have caused the RCM market to steadily grow, according to the report.
2. Emergency healthcare service providers, hospitals and office-based physicians are major end-users of RCM system solutions.
3. The end-user segment of the North American RCM market is expected to reach $13.2 million by 2019.
The Market Research report can be purchased here.