Europe's Revenue Cycle Management Market is forecasted to grow at 12.9% with factors such as increasing the need to simplify claim processing and submission and surging preference toward automated operational procedures.
Revenue cycle management market has shown exceptional penetration in countries such as Germany due to the huge growth of the healthcare industry. The increasing need for digital transformation applications of cloud-based solutions in RCM healthcare is boosting the growth in developed countries. In developing countries, rising emphasis on research and development activities creates an opportunity for the Europe revenue cycle management market.
Revenue Cycle Management Market Scenario
According to Data Bridge Market Research, In Europe revenue cycle management, the market leaders are McKesson Corporation and Quest Diagnostics Incorporated, which accounts for an estimated market share of approximately 10% to 30% in the Europe market. The company has gained outstanding sales by providing revenue cycle management products.
For instance,
- In November 2021, McKesson's Corporation independent specialty pharmacy—Biologics, was chosen by Takeda Pharmaceutical Limited Company to provide better treatment for adult patients, different cancer types. The therapy is a form of oral therapy and the only one approved by the U.S. Food and Drug Administration (FDA). Electronic prescriptions for telephonic restrictions may be submitted to biologics, and the partnership was aimed at providing more effective and innovative solutions to the users.
- In August 2021, 3M and Waystar announced a partnership in order to implement artificial intelligence in hospital revenue cycle solutions with the objective of improving reimbursements and compliance efforts. With this partnership, Waystar's artificial intelligence, predictive analysis, and machine learning Technology will be brought together with 3 M's service team to provide revenue cycle optimization solutions in the Healthcare field. This integration will also reduce much manual labor and help streamline operability.
Trends Impacting the Market
Now the question is which other regions McKesson Corporation and Quest Diagnostics Incorporated are targeting? Data Bridge Market Research has forecasted a large growth in Europe revenue cycle management market and the market leaders targeting Germany and France to be their next pocket revenue for 2021.
The revenue cycle management are becoming more competitive every year with companies McKesson Corporation and Quest Diagnostics Incorporated as they are the market leaders for revenue cycle management. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the revenue cycle management market.
For more analysis on the revenue cycle management request for a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=europe-revenue-cycle-management-market
Revenue Cycle Management Market Development in 2021
- In October 2021, OPTUM INC announced an innovative collaboration with SSM Health, with the objective of making health care more accessible and affordable and attracting a wider clientele across the Midwest. This integration of Technology and Healthcare will allow accurate Healthcare providing to customers by using clinical technologies, advanced analytic tools, and delivery of data-driven insights at the point of care. This will allow cost reduction, neutral caregiving, and digital transformation of the patient experience.
Scope of the Revenue cycle management Market
All country based analysis of Europe Revenue cycle management market is further analyzed based on maximum granularity into further segmentation. On the basis of products & services, the Europe revenue cycle management market is segmented into solutions and outsourcing services. On the basis of delivery mode, the Europe revenue cycle management market is segmented into on-premise solutions and cloud based solutions. On the basis of type, the Europe revenue cycle management market is segmented into integrated and standalone. On the basis of function, the Europe revenue cycle management market is segmented into claims & denial management, medical coding & billing, electronic health record (EHR), clinical documentation improvement (CDI), insurance and other functions. On the basis of end user, the Europe revenue cycle management market is segmented into healthcare providers and healthcare payers.
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Key Pointers Covered in Revenue Cycle Management Market Industry Trends and Forecast to 2029
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Market Key Vendors and Disruptors Study
Key Market Competitors Covered in the Report
- Cerner Corporation
- Epic Systems Corporation
- Optum, Inc
- McKesson Corporation
- 3M
- Experian plc
- Allscripts Healthcare Solutions, Inc.
- General Electric Company
- Cognizant
- AdvantEdge Healthcare Solutions
- Huron Consulting Group Inc.
- Quest Diagnostics Incorporated
- Chetu Inc.
- eClinicalWorks
- Accenture
- Atos SE
- Crowe LLP
- Hinduja Global Solutions Ltd.
- Flatworld Solutions Pvt. Ltd
- Wipro Limited
- AIMA Business and Medical Support LLC
- Protiviti Inc
- Alvarez & Marsal Holdings, LLC
- IBM Corporation
- Brightree LLC
- NTT DATA, Inc
Above are the key players covered in the report, to know about more and exhaustive list of Revenue cycle management companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=europe-revenue-cycle-management-market
Research Methodology: Europe Revenue Cycle Management Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: Managers, Directors, Government, Healthcare Companies, Healthcare Professionals.
- Supply Side: Service Providers, revenue cycle management Companies, Marketing Managers, C-Level Executives and Market Intelligence, among others.
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