Back-end Revenue Cycle Management Market | Analysis And Opportunities During Covid-19 Pandemic

According to the new market research report “Back-end Revenue Cycle Management Market by Product and Services (Claim Processing, Denial Management, Payment Integrity), Delivery Mode (On-Premise, Cloud Based), End-User (Payer, Provider (Inpatient, Outpatient)), and Region – Global Forecast” published by MarketsandMarkets™.

The Back-end Revenue Cycle Management Market is projected to reach USD 10.4 billion by 2023 from USD 8.1 billion in 2018, at a CAGR of 5.0%.

Back-end RCM Market Dynamics:

Growing importance of denials management;

To reduce costs and maximize profits, insurance companies are increasingly denying claims as well as coverage to patients being treated for chronic or persistent illnesses. This is putting an extra burden on healthcare providers to manage operating costs, and in turn is supporting the adoption of back-end revenue cycle management solutions (with a growing number of healthcare providers focusing on properly analyzing denied claims and appealing them).

Many healthcare providers across the globe still use manual and paper-oriented approaches to manage denials. This results in errors, delayed follow-ups, and miscommunication between healthcare providers and insurance companies. The use of back-end revenue cycle management solutions over manual and paper-oriented approaches can not only help healthcare providers overcome these issues but also help them save significant costs. As a result, the demand for back-end revenue cycle management solutions is expected to increase among end users during the forecast period.

Browse 79 market data Tables and 31 Figures spread through 136 Pages and in-depth TOC | Request Research Sample Pages: www.marketsandmarkets.com/requestsampleNew.asp?id=204439794

Back-end Revenue Cycle Management Market

The Service segment to dominate the Back-end RCM Market

By product & service, the back-end revenue cycle management market is segmented into software and services. The services segment is expected to account for the largest share of the market in 2018. The large share of this segment can be attributed to the recurring nature of services such as training and development, installation, software upgrades, consulting, and maintenance. However, due to the need for periodic software upgrades, the software segment is expected to witness the highest growth during the forecast period.

The integrated software segment is expected to grow at the highest rate during the forecast period

By software, the market is broadly segmented into integrated and standalone software. In 2018, the integrated software segment is expected to account for the largest share of the market. The large share of this segment can be attributed to the ability of integrated solutions to help users to streamline and coordinate multiple financial functions through a single platform.

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Geographically, the back-end revenue cycle management market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share in 2018 owing to factors such as growing HCIT investments in the region and the presence of regulatory mandates. North America is followed by Europe and Asia. The market in Asia is relatively nascent; however, it is projected to be the fastest-growing market during the forecast period.

Athenahealth (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), eClinicalWorks (US), Optum, Inc. (US), McKesson Corporation (US), Conifer Health Solutions (US), GeBBs Healthcare Solutions (US), The SSI Group (US), GE Healthcare (US), nThrive (US), DST Systems (US), Cognizant Technology Solutions (US), and Quest Diagnostics (US) are the key players in the back-end revenue cycle management market.

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