The Global Patient Access Front end Revenue Cycle Management solutions Market Report, published by Emergen Research, offers an industry-wide assessment of the Patient Access Front end Revenue Cycle Management solutions Market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2022-2030.
The global patient access/front-end Revenue Cycle Management (RCM) solutions market size was USD 1.53 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period. Growing adoption of denials management is a key factor driving market revenue growth.
Denial Management is a critical component of the health revenue cycle and essential for a healthy cash flow and effective revenue cycle management. When insurance companies decline a certain amount of submitted claims, healthcare institutions must need to prioritize root cause and denial avoidance to maintain a healthy revenue flow. Despite changes in payment methodologies, claim denials create significant income loss for healthcare providers. According to research on denial rates, out of USD 3 trillion in total claims submitted by healthcare organizations, USD 262 billion were refused, equating to over USD 5 million in denials per provider on average. Over half of denials are generally ignored by providers and up to 65% of rejected claims are never resubmitted.
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The global Patient Access Front end Revenue Cycle Management Solutions market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Patient Access Front end Revenue Cycle Management Solutions industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Key Companies Profiled in the Report:
McKesson Corporation, Experian Plc, Conifer Health Solutions, LLC, Epic Systems Corporation, Patient Access Solutions Inc., AccessOne, Inc., Cognizant, The SSI Group, LLC, Exela Technologies, Inc., and Craneware, Inc
Segments Covered in this report are:
-
Solution Outlook (Revenue, USD Billion; 2019-2030)
- Cloud-Based Solutions
- On-Premise Solutions
-
Component Outlook (Revenue, USD Billion; 2019-2030)
- Service
- Implementation Services
- Support & Maintenance Services
- Training & Education Services
- Software
- Eligibility Verification Software
- Payment Estimation Software
- Medical Necessity Management Software
- Claims Denial & Appeal Management Software
- Precertification & Authorization Software
- Claims Payment Assessment & Processing Software
- Other Software
- Service
-
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Healthcare Service Providers
- Healthcare IT Outsourcing Companies
- Others
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
Key Questions Answered in the Report:
What will be the estimated growth rate of the Patient Access Front end Revenue Cycle Management Solutions market by 2027?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Patient Access Front end Revenue Cycle Management Solutions market throughout the forecast period?
What are the current and future market trends of the Patient Access Front end Revenue Cycle Management Solutions market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
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