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
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 wait for long dev...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...