The latest research report offers an accurate study of the Patient Access Front end Revenue Cycle Management Solutions industry and highlights key factors such as import/export analysis, production and consumption rates, distribution channels and consumer base in key regions of the global market. This report further explores key facts and figures related to current market conditions and provides an industry-validated database for companies looking to invest in the market. Additionally, the report provides actionable insights that help readers identify key opportunities and challenges faced in the broad competitive landscape of the Patient Access Front end Revenue Cycle Management Solutions market. These insights also help formulate lucrative business expansion strategies to gain a competitive edge in the market.
The global patient access/front-end Revenue Cycle Management (RCM) solutions market size was USD 1.53 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period, according to latest analysis by Emergen Research. Growing adoption of denials management is a key factor driving market revenue growth.
Denial Management is a critical component of the health revenue cycle and essential for a healthy cash flow and effective revenue cycle management. When insurance companies decline a certain amount of submitted claims, healthcare institutions must need to prioritize root cause and denial avoidance to maintain a healthy revenue flow. Despite changes in payment methodologies, claim denials create significant income loss for healthcare providers. According to research on denial rates, out of USD 3 trillion in total claims submitted by healthcare organizations, USD 262 billion were refused, equating to over USD 5 million in denials per provider on average. Over half of denials are generally ignored by providers and up to 65% of rejected claims are never resubmitted. In addition, healthcare service providers are now giving more importance to denial management, which creates high demand for patient access solutions.
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Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Some of the key participants in this industry include:
McKesson Corporation, Experian Plc, Conifer Health Solutions, LLC, Epic Systems Corporation, Patient Access Solutions Inc., AccessOne, Inc., Cognizant, The SSI Group, LLC, Exela Technologies, Inc., and Craneware, Inc
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Target Audience of the Global Patient Access Front end Revenue Cycle Management Solutions Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
The global Patient Access Front end Revenue Cycle Management Solutions market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Patient Access Front end Revenue Cycle Management Solutions market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Patient Access Front end Revenue Cycle Management Solutions market.
Segments Covered in this report are:
Solution Outlook (Revenue, USD Billion; 2019-2030)
- Cloud-Based Solutions
- On-Premise Solutions
Component Outlook (Revenue, USD Billion; 2019-2030)
- Service
- Implementation Services
- Support Maintenance Services
- Training Education Services
- Software
- Eligibility Verification Software
- Payment Estimation Software
- Medical Necessity Management Software
- Claims Denial Appeal Management Software
- Precertification Authorization Software
- Claims Payment Assessment Processing Software
- Other Software
- Service
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Healthcare Service Providers
- Healthcare IT Outsourcing Companies
- Others
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Global Patient Access Front end Revenue Cycle Management Solutions Market Geographical Landscape - Synopsis:
The report closely studies the growth trajectory of the global Patient Access Front end Revenue Cycle Management Solutions market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Additional information offered by the report:
Along with a complete overview of the global Patient Access Front end Revenue Cycle Management Solutions market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Patient Access Front end Revenue Cycle Management Solutions market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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