6 insights on the $39B+ healthcare revenue cycle management market

The healthcare revenue cycle management market is likely to increase at an 11 percent compound annual growth rate between 2016 and 2024, according to a Global Market Insights report, Value Walk reports.

Here are six insights on the market:

1. The market surpassed $39 million in 2015.

2. Factors spurring expansion include more providers engaging in RCM practices, high healthcare spending leading to cost-cutting measures and increased medical coding complexity.

3. In Europe, Germany comprised more than 20 percent of the market share in 2015 and will likely continue dominating the market. Growth in this region is due the high adoption of big data, among other factors.

4. In the aforementioned time frame, China is slated to increase at a 15 percent CAGR.

5. Based on end-user segments, physician billing organizations had a 40 percent market share in 2015. The market share is slated to increase at a 12.3 percent CAGR from 2016 to 2024.

6. Companies operating in the market include athenahealthcare, CareCloud, Allscripts Healthcare Solutions, Experian, Cerner, Siemens Healthcare, McKesson, Quest Diagnostics and GE Healthcare.

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