Welcome!

News Feed Item

U.S. Hospital Revenue Cycle Management

NEW YORK, April 11, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

U.S. Hospital Revenue Cycle Management

http://www.reportlinker.com/p01158732/US-Hospital-Revenue-Cycle-Manageme...

Overview and Outlook, 2012-2017

Revenue cycle management (RCM) solutions are used to help healthcare providers to maximize the collection of payments from insurance companies and/or patients by rationalizing a number of complex processes that occur across the entire patient accounts pathway. A large number and variety of vendors serve the hospital RCM market. Many vendors offer both software applications and services, while others specialize in one or the other. Some vendors only address the hospital market and some sell products and/or services to hospitals as well as ambulatory providers.

Executive Summary

• Revenue cycle management (RCM) solutions are used to help healthcare providers maximize the collection of payments from insurance companies and/or patients by rationalizing a number of complex processes and steps that occur across the entire patient-accounts pathway.• A number of different software applications are utilized to address specific tasks involved with managing the revenue cycle. RCM software applications are usually characterized in two segments—core, or platform, solutions, and point solutions, or "bolt-ons," which provide added functionalities to core applications. In addition to information technology, a number of RCM services such as consulting and outsourcing are used by healthcare providers to provide additional capabilities across the RCM process.• A large number and variety of vendors serve the hospital RCM market. Many vendors offer both software applications and services, while others specialize in one or the other. Some vendors only address the hospital market and some sell products and/or services to hospitals as well as ambulatory providers including physicians and other providers.• Today, there are well over Xvendors serving the hospital RCM market in some capacity, and that number is expected to grow, particularly among vendors of point solutions and services, as hospitals increasingly focus on re-engineering RCM to meet growing challenges associated with healthcare reform.• In recent years, RCM solutions have taken a backseat to clinical systems because of providers' focus on adopting clinical solutions like electronic health records (EHRs) needed to meet Meaningful Use (MU). As the MU program matures, hospitals are expected to shift their focus to RCM in order to prepare for changes in reimbursement and patient demographics.• Today, revenue cycle processes and workflows are receiving unprecedented attention in the market as hospitals realize they must take every measure to maximize revenue and address inefficiencies and shortfalls in getting paid fully and on a timely basis. Many hospitals will need to significantly re-engineer their entire RCM function, and most seek solutions that offer robust integration between clinical and financial systems.• The current penetration of RCM solutions for the inpatient (hospital) environment varies by type of application. Software applications needed for the core functions of patient registration, scheduling, billing, coding, and claims processing are almost universally adopted in hospitals today (> X percent), while other RCM applications are less penetrated or significantly vary in penetration across various types of hospitals.• In terms of services, estimates on the rate of utilization of managed services across the hospital market vary significantly, ranging from X percent to X percent. Very few hospitals outsource their entire RCM function (>X percent), but some do.• Total revenue for the U.S. hospital RCM market is estimated at $X million for the base year, 2012. This figure includes revenue derived from application software and selected services. Computer hardware is excluded from this calculation.• Total market revenue is expected to increase steadily year over year, reaching $X million in 2017, representing a X percent increase from 2012. The total market revenue CAGR for the 2012 to 2017 forecast period is Xpercent.• The majority of the revenue for hospital RCM will come from replacements and/or updates of legacy systems, including the addition of new modules to enable more advanced capabilities required by healthcare reform. In addition, hospitals will increase their use of managed services and consultants to address internal staffing and skill shortages, provide niche services, and lower costs for some routine administrative functions.

CEO's Perspective

1. The healthcare industry is in a state of dramatic transition and transformation that impacts every segment of the market.2. Hospitals are increasingly struggling with financial constraints that threaten to grow worse with time.3. Many currently installed RCM systems have clumsy and outmoded technology platforms that must be replaced.4. Legacy vendors serving the hospital RCM market have failed to innovate, opening the door for new market entrants.5. The distinction between applications and services will continue to blur as vendors add new capacities to address diverse and growing customer needs.

Definitions and Scope of Study

This Study Pertains to the Following Region:

• The United States• Over the period:- Base year—2012- Forecast period—2013 to 2017

Products Included in Study

• Proprietary software applications that comprise core platform and point solutions used to manage various components of the patient revenue cycle process in non-federal short-term general and other special hospitals.

• Software applications encompassing a variety of technology approaches including installed client/server systems, Web-hosted solutions, and software as a service (SaaS) are included in the analysis.

• The study also covers consulting and outsourcing services that hospitals use in conjunction with various aspects of managing the patient revenue cycle.

Products Not Included in Study

• Software applications and related services used to manage the patient revenue cycle in ambulatory settings (physician offices), nursing homes, managed care organizations, long-term care facilities, or other non-hospital care settings.

Key Issues this Study will Address

• What does the hospital revenue cycle management (RCM) process entail, and what are the key products and solutions utilized?• What drives the current need for hospitals to adopt new RCM technology solutions and related services?• What is the current penetration of core platform solutions, and who are the leading vendors providing these solutions?• What are some of the new functionalities that hospitals look for in next-generation RCM? • What is the expected revenue for the total hospital RCM market and key market segments over the next five years?• How will key macro trends impact the market over the next five years?

Table Of Contents

1. Executive Summary

2. Study Scope and Research Methodology

3. Market Overview

4. Market Analysis

5. Hospital RCM Market

6. External Challenges: Drivers and Restraints

7. Competitive Market Structure

8. Competitor Profiles

9. Forecast and Trends

10. Demand Analysis

11. The Last Word (Conclusions and Implications)

12. Appendix

To order this report:Medical_Facility Industry: U.S. Hospital Revenue Cycle Management

Contact Clare: [email protected]
US:(339) 368 6001
Intl:+1 339 368 6001

 

SOURCE Reportlinker

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...