Back-end Revenue Cycle Management Market solutions, data breaches and loss of confidentiality, and lack of skilled IT professionals in healthcare are the key factors that are expected to restrain market growth to a certain extent during the forecast year.
The Back-end Revenue Cycle Management Market is projected to reach $10.4 billion by 2023, at a CAGR of 5.0%.
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Back-end Revenue Cycle Management Market
Services segment to dominate the Back-end Revenue Cycle Management Market, by product & service, in 2018
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 Back-end Revenue Cycle Management 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.
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By delivery mode, cloud-based systems to register the highest CAGR during the forecast period
On the basis of delivery mode, the Back-end Revenue Cycle Management Market is segmented into on-premise and cloud-based systems. The cloud-based segment is expected to register the highest CAGR of the Back-end Revenue Cycle Management Market during the forecast period. Growth in this segment can be attributed to the comparatively lower capital expenses and operational costs incurred in this model, alongside its scalability, flexibility, and affordability.
Geographical Analysis of Back-end Revenue Cycle Management Market:
North America is expected to hold a significant share in the back-end revenue cycle management market during the forecast period
Geographically, the North American market is expected to account for the largest share of the market in 2018. The large share of North America in the market can be attributed to factors such as growing HCIT investments in the region, the presence of regulatory mandates supporting market growth in the US, and increasing digitalization and favorable funding initiatives by the Canadian government.
key players in the Back-end Revenue Cycle Management Market:
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).
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