DUBLIN--(BUSINESS WIRE)--The "Mid-revenue Cycle Management/Clinical Documentation Improvement Market by Product & Service, End User, and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The mid-revenue cycle management/clinical documentation improvement market is expected to grow at a CAGR of 6.6% from 2020 to 2027 to reach $4.55 billion by 2027.
Following a comprehensive secondary and primary study and an in-depth analysis of the market scenario, the report provides the industry's key drivers, constraints, challenges, and opportunities. The main driving factors are increasing healthcare expenditure, rising need to manage unstructured healthcare data, and alterations in revenue due to medical billing errors. Furthermore, factors such as changing healthcare scenarios in developing economies and integrating AI with healthcare revenue cycle management represent high-growth opportunities for players during the forecast period. However, factors such as IT infrastructure constraints in the developing economies and data security concerns are expected to hinder this market's growth.
In 2020, based on product & service, the solutions segment is projected to account for the largest share of this market. The large share of this segment is mainly attributed to the ability of various mid-cycle revenue management solutions to curb the loss of revenue while maintaining operational efficiency and revenue integrity.
Based on end user, the healthcare providers segment is expected to account for the largest share of this market. This segment's large share is attributed to the growing need to preserve and manage patient billing records and increase the adoption of mid-RCM solutions to simplify billing collection cycles.
An in-depth analysis of the geographical scenario of the mid-revenue cycle management/clinical documentation improvement market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America) along with the coverage of major countries in each region. In 2020, North America is estimated to command the largest share of the mid-revenue cycle management/clinical documentation improvement market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The key players operating in the mid-revenue cycle management/clinical documentation improvement market are nThrive, Inc. (U.S.), Dolbey Systems, Inc. (U.S.), 3M Company (U.S.), UnitedHealth Group Incorporated (U.S.), Streamline Healthcare Solutions, LLC (U.S.), Vitalware, LLC (U.S.), Iodine Software LLC (U.S.), Craneware plc (U.K.), Epic Systems Corporation (U.S.), ChartWise Medical Systems, Inc. (U.S.), Nuance Communication, Inc (U.S.), and Cerner Corporation (U.S.) among others.
Market Dynamics
Drivers
- Rising Healthcare Expenditure
- Growing Need to Manage Unstructured Healthcare Data
- Alterations in Revenue Due to Medical Billing Errors
Restraints
- IT Infrastructure Constraints in Developing Economies
Opportunities
- Changing Scenario in Developing Economies
- Integration of AI With Healthcare Revenue Cycle Management
Challenges
- Data Security Concerns
Company Profiles
- nThrive, Inc.
- Dolbey Systems, Inc.
- 3M Company
- UnitedHealth Group Incorporated (Optum, Inc.)
- Streamline Healthcare Solutions, LLC
- Vitalware, LLC
- Iodine Software LLC
- Craneware Plc
- Epic Systems Corporation
- ChartWise Medical Systems, Inc.
- Nuance Communications, Inc.
- Cerner Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7i7nyj
