The global revenue cycle management market is projected to reach $7.1 billion by 2020, at a compound annual growth rate of 11.8 percent from 2015 to 2020, according to a new report by marketsandmarkets.com.
The report looks at the market based on product type, deployment, component, end user and geography. It also analyzes competitive developments such as alliances, joint ventures and mergers and acquisitions in the global market, according to marketsandmarkets.com.
Here are three other findings from the report.
1. North America led the global revenue cycle management market in 2014, followed by Europe and Asia-Pacific.
2. The revenue cycle management market in Asia-Pacific is expected to grow at the highest compound annual growth rate from 2015 to 2020. According to the report, this growth is mainly because of a growing aging population, rising healthcare expenditures and increasing demand for revenue cycle management solutions.
3. Major key players operating in the global revenue cycle management market include 10 U.S.-based companies: McKesson Corp., Cerner Corp., Quest Diagnostics, Athenahealth, Allscripts, eClinicalWorks, CareCloud Corp., The SSI Groups, Epic Systems and Kareo.