Back-end Revenue Cycle Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Back-end Revenue Cycle Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Healthcare IT | PPT format

Report Digest


Back-end Revenue Cycle Management Market – Introduction

The healthcare revenue cycle includes multiple independent yet connected segments, starting from registration to claims management, that are separated by front-end and back-end components. As back-end revenue cycle management functions are critical in determining the organization output, many healthcare stakeholders are engaged in outsourcing the back-end revenue cycle management solutions to save resources in terms of time as well as money while improving the performance of revenue cycle.

As the complexity of back-end revenue cycle has increased significantly on the back of an increased patient volume, process improvements, importance of denial management and declining reimbursement rates, demand for back-end revenue cycle management solutions will witness significant demand during the forecast period. However, high cost associated with deployment, integration, skilled IT professionals’ labor and data breach as well as cyber-security management are expected to impede the adoption rate of back-end revenue cycle management solutions, thereby restricting the growth of the back-end revenue cycle management market during the forecast period.

Back-end Revenue Cycle Management Market – Notable Development

  • nThrive, a leading provider of revenue cycle management services company featured its Patient-to-PaymentTM suite of solutions at the Healthcare Financial Management Association's (HFMA) annual meeting, ANI 2017.
  • In February 2019, Ricoh USA, Inc., a Tokyo headquartered digital technology company announced the achievement of BLI PaceSetter award for the company’s work in the Healthcare space including Ricoh's Magnetoencephalography, healthcare direct services and healthcare administrative solutions which includes revenue cycle management.

Some of the most prominent competitors operating in the competitive landscape of global back-end revenue cycle management market include –

  • The SSI Group
  • Cerner Corporation
  • Allscripts Healthcare Solutions, Inc.
  • GE Healthcare
  • eClinicalWorks
  • Conifer Health Solutions
  • Optum, Inc.
  • GeBBs Healthcare Solutions
  • McKesson Corporation
  • nThrive

Back-end Revenue Cycle Management Market Dynamics

Cloud-based Delivery to Gain Popularity in Back-end Revenue Cycle Management Market

With the increasing adoption of back-end revenue cycle management in the healthcare organizations, preference for outsourcing the services is higher as compared to the integration of on-premise management solutions. While outsourcing the back-end revenue cycle management services requires the healthcare organizations to share their data with the third party, integration of cloud-based services is gaining momentum owing to the benefits such as flexibility, customization and affordability as compared to on-premise management services. Further, the accessibility of data from different locations for healthcare providers is another beneficial aspect associated with cloud-based services in the back-end revenue cycle management industry space. With the superior benefits, demand for cloud-based back-end revenue cycle management services is likely to gain popularity in the coming years.

High Cost of Deployment to Impede Penetration of Back-end Revenue Cycle Management Services

While the adoption of automation technologies in the healthcare sector is aimed at relieving the work pressure at a good price point, the transformation from conventional approaches to automated ones involve greater challenges in actual implementation. Healthcare organizations are at much more vulnerability than that of other industry sectors owing to the crucial nature of patient data management. Although front-end and back-end revenue cycle management services are aimed at cutting the cost while enhancing the efficiency of the healthcare organizations, higher deployment cost of services are the major hurdle in the back-end revenue cycle management services landscape. As the funding constraints continue to hover around the ongoing healthcare modernization, higher deployment cost as well as expensive maintenance are likely to impede the growth of the back-end revenue cycle management market in the coming years.

Growing Investments toward Improving Healthcare Infrastructure to Fuel Back-end Revenue Cycle Management Market Growth

While developed countries are actively engaged in developing their healthcare infrastructure with the integration of advanced technologies to continue modernization of healthcare facilities, greater strides are underway in the developing economies to improve the status of overall healthcare accessibility and efficacy. Integration of healthcare IT solutions, Big data and automation is no more limited to developed economies. Developing countries are witnessing increased investment and government support to improve their hospital infrastructures and overall healthcare delivery output. With the greater penetration of advanced technologies in the healthcare sector, demand for back-end revenue cycle management services is likely to grow during the forecast period.

Back-end Revenue Cycle Management Market – Segmentation

Back-end revenue cycle management market is segmented based on delivery mode, product & service and by end-user.

Based on product & service, the market is segmented into,

  • Integrated software
  • Standalone software

Based on delivery mode, the back-end revenue cycle management market is segmented into,

  • Cloud-based
  • On-Premise

On the basis of end-user, back-end revenue cycle management market is segmented into,

  • Healthcare providers
  • Healthcare payers

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?