News Feed Item

US Physician Revenue Cycle Management

NEW YORK, June 26, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

US Physician Revenue Cycle Management

This study provides a roadmap for understanding technology applications and collection services used in the physician revenue cycle management (RCM) market. Included is an overview of trends in physician demographics and medical practice organization, national health expenditures, and healthcare reform. The study discusses physicians' adoption of health information technology including EHRs and practice management systems used for revenue cycle and outlines key trends in next generation RCM technology. Competitive market issues including business and pricing approaches and profiles of key competitors are provided. Market forecasts for the total market and key market segments (applications and services) for 2012 through 2017 are included.

Executive Summary
•Revenue cycle management (RCM) solutions are used to help medical practices 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 applications are utilized to address specific tasks involved with managing the physician revenue cycle. RCM applications are usually classified in two segments—stand alone applications, which are installed or web-based applications designed to support a specific function related to RCM but are not integrated with end-to-end practice management systems or clinical systems; and integrated applications, which are installed or web-based applications that combine end-to-end practice management capabilities and may also be integrated or interfaced with clinical system, system (electronic health records).
•In addition to applications, many physicians use a range of services to help manage the RCM process. These services are performed by independent billers, practice management companies, or RCM technology vendors.
•A large number and variety of vendors serve the physician RCM market. Many vendors offer both applications and services, while others specialize in one or the other. Some vendors only address the physician market and some sell products and/or services across a variety of care settings that includes hospitals.
•Today, there are well over Xtechnology vendors serving the physician RCM market in some capacity. In addition, there are over X vendors of RCM services for the physician market, many of which are small one-person businesses. Many competitors in the physician RCM market offer both technology (applications) and services.
•In recent years, RCM solutions have taken a backseat to clinical solutions because of providers' focus on adopting electronic health records (EHRs) needed to meet meaningful use (MU). As the MU program matures, medical practices are expected to shift their focus to RCM in order to prepare for changes in reimbursement and patient demographics.
•The emphasis in the health IT market is increasingly expanding beyond EHRs into the next wave of tools needed to support accountable care, particularly next-generation RCM, which includes solutions for patient engagement, analytics for clinical decision support and risk management, and team-based care coordination.
•Today, revenue cycle processes and workflows are receiving unprecedented attention as medical practices realize they must take every measure to maximize revenue and address inefficiencies and shortfalls in getting paid fully and on a timely basis. Many medical practices 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 physician RCM applications, both stand-alone and integrated systems, is about X%. Many RCM applications used in medical practices today are legacy systems that have been in use for many years and most are not fully integrated with end-to-end practice management systems or clinical systems.
•In terms of services, it is estimated that approximatelyX% of physician practices use some kind of external service to help manage their RCM needs. Vendors charge medical practices a percentage of the total reimbursement collected from payers or patients. The majority of revenue attributed to the physician RCM market are due to services rather than applications.
•Total revenue for the US physician RCM market is estimated at $X million for the base year, 2012. This figure includes revenue derived from RCM applications and services. Computer hardware is excluded from this calculation.
•Total market revenue is expected to increase X% from 2012 to 2017. Market revenue is expected to peak at $X million in 2016. After that, total revenue is expected to decline to $X million in 2017, primarily as a result of increased market saturation, the move from installed software to web-based solutions, and downward price pressures impacting the increasingly competitive market for RCM applications.
•The total market revenue CAGR for the period 2012 to 2017 is X%.

Key Questions This Study Will Answer • What does the physician RCM process entail, and what are the key products and services utilized for this process? • What drives the current need for physician practices to adopt new RCM products and services, and what are the next generation functionalities that are most sought after? • What are key macro trends impacting the physician RCM market today, and how will these influence the demand for RCM products and services over the next 5 years? • What are the key competitive metrics encompassing the market for RCM products and services? • What is the current penetration of RCM products and services used in physician practices, and who are the leading vendors providing these solutions? • What are the expected revenues for the total physician RCM market and key market segments over the next 5 years?

Table of Contents

Executive Summary 4
Study Scope and Research Methodology 11
Macro Trends: National Health Expenditures and Physician Demographics 18
Introduction to Physician Revenue Cycle Management 42
Information Technology Systems in Physician Practices 51
Total Physician Revenue Cycle Management Market –
External Challenges: Drivers and Restraints 68
Competitive Market Structure 80
Competitor Profiles 87
Forecast and Trends 103
Demand Analysis 116
The Last Word 119
Appendix 126

To order this report:
US Physician 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
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
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...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
SYS-CON Events announced today that Streamlyzer 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. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
SYS-CON Events announced today that 910Telecom 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. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...