Europe Revenue Cycle Management Market boosting the growth: Market dynamics and trends, efficiencies Forecasts to 2026

Revenue cycle management (RCM) in healthcare is the software or tool which is administered for financial transactions resulting from the medical encounters between a patient and the care provider usually healthcare organization. The hospitals and clinics are the place where treating patients with utter care is the primary job. But in recent times, due to increasing patient pool it is almost impossible to keep manual records of all the patients. Also, due to digitalization in healthcare the revenue cycle management software were developed. Hospital billing processes are crucial for management of hospitals. Any mistake in financial and claim calculation would lead to billing errors which leads to costly financial losses to the organization.

Europe revenue cycle management market is expected to register a healthy CAGR of 12.6% in the forecast period of 2019 to 2026.

Europe Revenue Cycle Management Market research report estimates potential market for new product, consumer’s reaction for particular product, general market tendencies, different types of customers, and intensity of marketing problem. This market report makes use of most modern tools and techniques for collecting, researching, analysing and estimating market data. All the data, facts, figures, statistics, or information gathered to generate this report has been studied and analysed with the well-known tools and techniques such as SWOT analysis and Porter’s Five Forces analysis.  This Europe Revenue Cycle Management Market report will certainly help boost sales with new thinking, new skills, and innovative programs and tools.

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Competitive Analysis: Europe Revenue Cycle Management Market

Some of the major players operating in this market are Quest Diagnostics Incorporated, Cerner Corporation, Allscripts, Navigant Consulting, Inc., Cognizant, McKesson Corporation, Inc., Change Healthcare, eClinicalWorks, Epic Systems Corporation, Experian Information Solutions, Inc., UnitedHealthcare, Siemens.

Table of Content:

01: Executive Summary

02: Scope of The Report

03: Market Landscape

04: Market Sizing

05: Market Segmentation by Product

06: Five Forces Analysis

07: Customer Landscape

08: Geographic Landscape

09: Decision Framework

10: Drivers and Challenges

11: Market Trends

12: Vendor Landscape

13: Vendor Analysis

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Segmentation: Europe Revenue Cycle Management Market

Europe revenue cycle management market is segmented based on product type, deployment, Function, component, stage and end user.

  • On the basis of product type, the market is segmented into integrated RCM and standalone RCM. In 2019, integrated RCM segment is expected to dominate the Europe revenue cycle management market.
    • In February 2018, XIFIN and Siemens Healthineers (Germany) announced the partnership to help laboratories maximize reimbursement. This partnership is enhancing the innovation based solution that will improve the company growth rate by offering cloud based RCM solution which will maximize the efficiency and improve the cash collection hence delivering authentic business intelligence
  • On the basis of stage, the market is segmented into front office, mid office and back office. In 2019, integrated RCM segment is expected to dominate the Europe revenue cycle management market.
    • In April 2017, Experian Health announced the launch of Patient Schedule which is an innovative solution which allows real time integration across the organization to streamline a patients self-service appointment scheduling.
  • On the basis of component, the market is segmented into software and services. In 2019, front office segment is expected to dominate the market Europe revenue cycle management market.
    • In June 2016, Experian Health announced the launch of its new product Coverage Discovery which is an on demand tool in integration with Epic’s EMR environment. This tool enables Experian Health clients to reclassify the uncompensated care for altering the patients care across the government and commercial payers by the use of advanced analytics.
  • On the basis of deployment, the market is segmented into web based, on premise and cloud based. In 2019, cloud based segment is expected to dominate the Europe revenue cycle management market.
  • On the basis of function, the market is segmented into claim and denial management, medical billing and coding, electronic health record (EHR), payment remittance, patient insurance eligibility check, clinical documentation improvement (CDI), others (scheduling & appointment, referral management, and contract management). In 2019, claim and denial management segment is expected to dominate the Europe revenue cycle management market.
  • On the basis of end user, the market is segmented into hospitals, general physicians and labs. In 2019, hospitals segment is expected to dominate the Europe revenue cycle management market.

Product Launch

  • In June 2018, Quest Diagnostics, the world’s leading provider of diagnostic information services, unveiled the newest version of its Quanum Enterprise Content Management Solution. This latest release of Quanum Enterprise Content Solutions incorporates has a different capabilities expected to help health systems better capture, store, access, and share and manage content across an enterprise.
  • In March 2019, Cerner Corporation, planned to further expand into the Alabama rural health care market through a new collaboration with the Escambia County Healthcare Authority. This will cover EHR with a digital record of a patient’s health history which includes financial and clinical information.
  • In January 2016, Navigant announced the acquisition McKinnis Consulting Services (U.S.) which provides revenue cycle assessment, strategy, and optimization assistance for healthcare providers. This acquisition helps Navigant to expand healthcare revenue cycle management capabilities.
  • In October 2018, eClinicalWorks, a market leader in ambulatory clinical systems, announced eClinicalWorks Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. This includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as on support.
  • In April 2017, Experian Health announced the launch of Patient Schedule which is an innovative solution which allows real time integration across the organization to streamline a patients self-service appointment scheduling. This product was launched in collaboration with MyHealthDirect.
  • In June 2016, Experian Health announced the launch of its new product Coverage Discovery which is an on demand tool in integration with Epic’s EMR environment. This tool enables Experian Health clients to reclassify the uncompensated care for altering the patients care across the government and commercial payers by the use of advanced analytics.

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About Data Bridge Market Research 13983 Articles
Hi, I am Ravi Kumar, a Blogger, Freelancer, SEO Consultant, an Internet Marketer, I am a research analyst who loves to evaluate data relating to Manufacturing industry, Management of companies and enterprises, Finance and insurance, Wholesale trade, Management, scientific, and technical consulting services

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