Technavio, a global market research company, recently released a report on the revenue cycle management software market.
Here are four things to know from the report.
1. Technavio estimates the global healthcare RCM software market will grow at a 4.5 percent compound annual growth rate from 2017 to 2021.
2. Technavio cites "increase in recovery audits due to changing healthcare regulations" among the major drivers for the global healthcare RCM software market.
"Healthcare service providers are under constant pressure caused by the change in government regulations in the healthcare sector. They are experiencing a rise in the cost of operations and a reduction in revenues. In addition, the revenue of the provider is under continuous scrutiny and audit by recovery audit contractors," the company said.
3. Technavio cites vendor selection for specific needs among the major factors hindering the growth of the global healthcare RCM software market.
4. The company listed Allscripts, Cerner, GE Healthcare and McKesson as key players in the global healthcare RCM software market. Technavio also listed Alleviant, athenahealth, Avadyne Health, MedData, MediRevv, Navigant Cymetrix, nThrive, Optum, SourceMed and ZirMed as prominent vendors in the market.
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