Global and domestic revenue cycle management markets are expected to grow in 2017.
A study conducted by Transparency Market Research examines key factors in the revenue cycle management industry such as market size, the competitive landscape and technological breakthroughs and how international and domestic markets faired in 2016. The data compiled in the study stems from researchers' interviews with professionals analysts, information from various trade journals and industry body databases.
Here are four findings from the study.
1. Analysts expect to see strong growth across the global revenue cycle management market. The growth will stem from the rising demand to maintain cash flows and address the changing and complex reimbursement environment set by governments and private insurers.
2. Increasing complexity in medical coding for payer reimbursement has increased demand for revenue cycle services in the U.S. healthcare market.
3. Limited investments in healthcare IT and the high cost of implementing RCM software and services, however, are expected to negatively impact RCM markets in 2017.
4. North America retains the largest share of the global RCM market, with Europe standing as the second most attractive market.