Patient Access Front end Revenue Cycle Management Solutions Market Size, Technology, Forecast 2030
Growing adoption of denials management is a key factor driving patient access/front-end RCM solutions market revenue growth
Posted 1 год назад in Новости и политика.
Emergen Research's latest market research report, titled Global Patient Access Front end Revenue Cycle Management Solutions Market, provides estimated market size and shares, latest industry trends, global market growth rates, key drivers and opportunities, constraints, product segmentation, and major market players. Cost structure, market size, competitive landscape, product portfolio and specifications, and company profiles.
This report is a fair prototype of the Patient Access Front end Revenue Cycle Management Solutions-industry containing an in-depth study of the global Patient Access Front end Revenue Cycle Management Solutions market. This report serves as a valuable source of data and information related to this industry. It covers various industry aspects with a particular focus on market scope and application areas. The report identifies the fundamental business strategies adopted by industry experts and offers an insightful study on the value chains and distribution channels of the global market. The report authors have also analyzed current industry trends, growth potential, current overview, and market limitations.
The global patient access/front-end Revenue Cycle Management (RCM) solutions market size was USD 1.53 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period. Growing adoption of denials management is a key factor driving market revenue growth.
Denial Management is a critical component of the health revenue cycle and essential for a healthy cash flow and effective revenue cycle management. When insurance companies decline a certain amount of submitted claims, healthcare institutions must need to prioritize root cause and denial avoidance to maintain a healthy revenue flow. Despite changes in payment methodologies, claim denials create significant income loss for healthcare providers. According to research on denial rates, out of USD 3 trillion in total claims submitted by healthcare organizations, USD 262 billion were refused, equating to over USD 5 million in denials per provider on average. Over half of denials are generally ignored by providers and up to 65% of rejected claims are never resubmitted. In addition, healthcare service providers are now giving more importance to denial management, which creates high demand for patient access solutions.
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Competitive Terrain:
The global Patient Access Front end Revenue Cycle Management Solutions industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Companies profiled in the global Patient Access Front end Revenue Cycle Management Solutions market:
McKesson Corporation, Experian Plc, Conifer Health Solutions, LLC, Epic Systems Corporation, Patient Access Solutions Inc., AccessOne, Inc., Cognizant, The SSI Group, LLC, Exela Technologies, Inc., and Craneware, Inc
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Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Segments Covered in this report are:
Solution Outlook (Revenue, USD Billion; 2019-2030)
- Cloud-Based Solutions
- On-Premise Solutions
Component Outlook (Revenue, USD Billion; 2019-2030)
- Service
- Implementation Services
- Support & Maintenance Services
- Training & Education Services
- Software
- Eligibility Verification Software
- Payment Estimation Software
- Medical Necessity Management Software
- Claims Denial & Appeal Management Software
- Precertification & Authorization Software
- Claims Payment Assessment & Processing Software
- Other Software
- Service
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Healthcare Service Providers
- Healthcare IT Outsourcing Companies
- Others
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Key reasons to buy the Global Patient Access Front end Revenue Cycle Management Solutions Market report:
The latest report comprehensively studies the global Patient Access Front end Revenue Cycle Management Solutions market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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