Revenue cycle management (RCM) system is used for tracking financial records in healthcare facilities. The system includes tracking from registration and appointment to final payment of services. It integrates business sides and clinical sides, such as personal information of patients, insurance provider, and treatment received by patients. The time between providing service and receiving payment is reduced by interfacing various IT systems together. Patients can pay bills online, receive updates about upcoming appointments, and lessen the amount of denied claims with the help of RCM system.
The decrease in reimbursements and initiatives undertaken by governmental bodies for implementing RCM solutions are factors driving the growth of the Asian RCM market. However, limited investments in healthcare IT industry, high costs, and fragmented end-user market are hindering the growth of the market. The adoption of new and updated versions of RCM solution creates opportunities in the market.
The Asian revenue cycle management (RCM) system market is segmented based on product, component, deployment, end user, and country. The product segment is further classified into integrated RCM and standalone RCM. The components covered in the report are services, software, and hardware. On the basis of deployment, the market is further classified into web-based, on-premise, and cloud-based. End users included in the report are academics, ambulatory care solutions, hospitals, medical & diagnostic laboratories, and office based physicians. The market is segmented based on countries into Japan, China, India, and Republic of Korea.
Quest Diagnostics, Cerner Corporation, McKesson Corporation, Athenahealth Inc., Allscripts Healthcare Solutions Inc., eClinicalWorks LLC, CareCloud Corporation, The SSI Groups Inc., GE Healthcare, Epic Systems, Siemens Healthcare, and Kareo Inc. are some of the prominent manufacturers operating in the market. They have adopted strategies, such as partnerships, mergers & acquisitions, agreements, expansions, joint ventures, and others to gain strong foothold in the market.
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