Global Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, By End User (Healthca

Published Date: | Report Code : IT1958394

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Increasing healthcare expenditure is expected to drive the growth of Mid-revenue Cycle Management/clinical Documentation Improvement Market during the forecast period. This has resulted some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.The income cycle is traditionally divided between the front end, which deals with patient access and other more patient-facing economic procedures, and the back end, which handles claims, bills and account resolution.

But the emergence of value-based buying and pay-for-performance models had suppliers really focused on what's going on after patient access and before medical billing. Processes such as improving clinical documentation and coding have become top priorities for suppliers that rely on performance bonuses and precise patient risk-based payments.

Increasing healthcare spending, growing need to handle increasing unstructured healthcare information and decreasing reimbursements are some of the variables driving this region's market growth. Data security and privacy concerns, however, restrict the market.
To minimize healthcare expenses, inspect income losses due to medical billing and coding errors, resolve problems posed by declining reimbursement rates, handle ever-increasing quantities of unstructured data, and sustain regulatory compliance, the use of mid-RCM solutions is increasing across the globe in healthcare organizations. However, considerations such as the absence of IT infrastructure in developing nations, the shortage of qualified IT experts and the risks connected with HCIT alternatives in terms of data security and privacy somewhat hinder market growth.

Key Factors Impacting Market Growth:
    • Increasing Healthcare Expenditure
    • Loss of Revenue Due to Medical Billing and Coding Errors
    • Declining Reimbursements
    • Growing Need to Manage Increasing Unstructured Healthcare Data

Regional Analysis:

By region, the mid-revenue cycle management/clinical documentation improvement market has been segmented in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The North America and Western Europe regions are estimated to register a stable demand during the forecast period with market recovery from recent slowdowns. North America region includes the US, Canada, and Mexico. The US is estimated to dominate this market with a sizeable share followed by Canada, and Mexico. The industrial sector is a major contributor to the US and Canada economies overall. Hence, the supply of advanced materials in production activities is critical to the overall growth of industries in this region. 

Western Europe region is dominated by Germany, the UK, France, Italy, and Spain. These countries also have a strong influence on the industrial sector resulting in sizeable demand for mid-revenue cycle management/clinical documentation improvement market.Asia Pacific is estimated to register the highest CAGR by region during the forecast period. The presence of some of the high growth economies such as China and India is expected to propel the demand in this region. Besides, this region has witnessed strategic investments by major companies to increase their market presence. The Middle East and Eastern Europe are estimated to be other key regions for the mid-revenue cycle management/clinical documentation improvement market with a strong market potential during the forecast period. Rest of the World consisting of South America and Africa are estimated to be emerging markets during the forecast period.

Companies Covered: 3M Company, Dolbey Systems, Nthrive Inc., Vitalware, LLC, Cerner Corporation, Craneware, Chartwise Medical Systems, Inc., Nuance Communications, Inc., Optum, Inc and Streamline Health Solutions, LLC…

Market Segmentation:
By End User:
    • Healthcare Providers
        ◦ Inpatient Settings
        ◦ Outpatient Settings
    • Healthcare Payers

By Products & Services:
    • Solutions
        ◦ Clinical Documentation
        ◦ Clinical Coding
        ◦ Charge Capture
        ◦ Clinical Documentation Improvement
        ◦ Diagnosis-Related Grouping
        ◦ Pre-Bill Review
    • Consulting Services

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By End User
        ◦ By Products & Services
    • Western Europe:
        ◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
        ◦ By End User
        ◦ By Products & Services
    • Eastern Europe:
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By End User
        ◦ By Products & Services
    • Asia Pacific
        ◦ By Country (China, Japan, India, Rest of Asia Pacific)
        ◦ By End User
        ◦ By Products & Services
    • Middle East:
        ◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
        ◦ By End User
        ◦ By Products & Services
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By End User
        ◦ By Products & Services

Reasons To Buy This Report:
    • Market size estimation of the mid-revenue cycle management/clinical documentation improvement market on a regional and global basis 
    • Unique research design for market size estimation and forecast 
    • Profiling of major companies operating in the market with key developments
    • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country
For more information, contact: [email protected]

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