The major players in Europe revenue cycle management market , have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this industry. Market is expected to reach USD 24.5 billion by 2024, from More than USD 11.1 billion, growing at a CAGR of 10.5% during forecast period to 2024.
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The Revenue cycle management (RCM) is used by healthcare providers to scale and manage the process of healthcare billing and reimbursements. This is achieved by improving the process of claims management, speeding explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and by automating processes. The RCM solution manages the patient’s bills from entering the hospital to reimbursement of claims.
Europe revenue cycle management market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2025. The Key Players in the Europe Revenue Cycle Management Market are:-
- McKesson Corporation
- Cerner Corporation
- Quest Diagnostics
- Athena Health Inc
- E Clinical Works,
- Care Cloud Corporation
- The SSI Groups Inc.
- GE Healthcare
- Epic Systems
- Siemens Healthcare
- and Kareo Inc.
The Europe revenue cycle management market is steadily progressing owing to factors, such as decreasing reimbursement in healthcare industry, reduction of overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by healthcare industry especially made on information technology.
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Germany is expected to dominate the market due to the rising need to decrease healthcare expenditure which is forming the major share of the market.
- In this report, the Europe revenue cycle management market is segmented on the basis of
- Product Type
- The revenue cycle management market is segmented with respect to type into
- Integrated RCM
- Standalone RCM
- The end-users of this market include
- By product type RCM solutions are segmented into
- Integrated RCM
The integrated RCM solution are generally used by larger organizations where integration with other healthcare IT products such as
It form a more holistic process for billing and claim settlements. However standalone RCM is best used in smaller hospitals and physician offices where they need to manage only one healthcare application.
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