Market Analysis and Insights:- Asia-Pacific Revenue Cycle Management Market
Asia-Pacific Revenue Cycle Management Market By Product Type (Integrated RCM, Standalone RCM), Deployment (Web-Based, On-Premise, Cloud-Based), Component (Software, Service), Stage (Front Office, Mid Office, Back Office), End User (Hospitals, General Physicians, Labs), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific) – Trends and Forecast to 2026
Summary: Asia-Pacific Revenue Cycle Management Market
Revenue cycle management (RCM) in healthcare is the software or tool which is administered for financial transactions resulting from the medical encounters between a patient and the care provider usually healthcare organization. The hospitals and clinics are the place where treating patients with utter care is the primary job. But in recent times, due to increasing patient pool it is almost impossible to keep manual records of all the patients. Also, due to digitalization in healthcare the revenue cycle management software were developed. Hospital billing processes are crucial for management of hospitals. Any mistake in financial and claim calculation would lead to billing errors which leads to costly financial losses to the organization.
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Segmentation: Asia-Pacific Revenue Cycle Management Market
Asia-Pacific revenue cycle management market is segmented based on product type, deployment, component, stage and end user.
• On the basis of product type, the market is segmented into integrated RCM and standalone RCM.
o In June 2018, Quest Diagnostics, the world's leading provider of diagnostic information services, unveiled the newest version of its Quanum Enterprise Content Management Solution. This latest release of Quanum Enterprise Content Solutions incorporates has a different capabilities expected to help health systems better capture, store, access, and share and manage content across an enterprise.
• On the basis of stage, the market is segmented into front office, mid office and back office.
o In May 2018, Columbus Regional Healthcare System (CRHS) has chosen Cerner Corporation to implement a latest integrated revenue cycle and electronic health record (EHR) solutions over its acute and ambulatory facilities. This agreement gives the hospital with sophisticated health care technology that will helps CRHS clinicians as they work to streamline operations and develop patient care.
• On the basis of component, the market is segmented into software and services.
o In April 2018, Navigant announced the signing of the operating agreement for the creation of a joint venture entity to provide revenue cycle management (RCM) services to healthcare provider organizations. The joint venture will initially manage the revenue cycle operations of Baptist Health South Florida, but plans to expand in the future.
• On the basis of deployment, the market is segmented into web based, on-premise and cloud-based.
o In May 2017, Change Healthcare announced that it has been selected by LabPharm Hospital Management Services (HMS) (U.S.). The RCM services in support of a national network of hospitals and independent laboratories that will enhance the company growth rate.
• On the basis of end user, the market is segmented into hospitals, general physicians and labs.
o In October 2018, eClinicalWorks, a market leader in ambulatory clinical systems, announced eClinicalWorks Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. This includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as on support.
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Competitive Analysis: Asia-Pacific Revenue Cycle Management Market
Some of the major players operating in this market are Quest Diagnostics Incorporated, Cerner Corporation, Allscripts, Navigant Consulting, Inc., Cognizant, Athenahealth, Inc., Change Healthcare, eClinicalWorks, Epic Systems Corporation, Experian Information Solutions, Inc., UnitedHealthcare, Siemens.
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Product Launch
• In June 2018, Quest Diagnostics, the world's leading provider of diagnostic information services, unveiled the newest version of its Quanum Enterprise Content Management Solution. This latest release of Quanum Enterprise Content Solutions incorporates has a different capabilities expected to help health systems better capture, store, access, and share and manage content across an enterprise.
• In March 2019, Cerner Corporation, planned to further expand into the Alabama rural health care market through a new collaboration with the Escambia County Healthcare Authority. This will cover EHR with a digital record of a patient’s health history which includes financial and clinical information.
• In January 2016, Navigant announced the acquisition McKinnis Consulting Services (U.S.) which provides revenue cycle assessment, strategy, and optimization assistance for healthcare providers. This acquisition helps Navigant to expand healthcare revenue cycle management capabilities.
Research Methodology: Asia-Pacific Revenue Cycle Management Market
Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturer, Healthcare Professionals, Industrialist, Distributors and Suppliers. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.
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BROWSE RELATED REPORTS:-
• North America Revenue Cycle Management (RCM) Market – Industry Trends and Forecast to 2027
• Europe Revenue Cycle Management Market – Industry Trends and Forecast to 2027

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