Increased investments from private players, reduction in the number of denied insurance claims, speeding explanation of benefits (EOB) reconciliation and improving quality of information, streamlined denial management, and automation of processes are considered as key factors propelling the growth of the Asia revenue cycle management system market.
The Asia revenue cycle management system market is steadily progressing owing to factors, such as decreasing reimbursement in healthcare industry, reduction of overall healthcare costs, initiatives undertaken by governmental bodies for implementing RCM solutions, and increasing expenditure by the healthcare industry on information technology.
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Revenue cycle management system (RCM) for healthcare providers enables healthcare organizations to accelerate their revenue cycles. This is achieved by reducing the number of denied insurance claims, speeding explanation of benefits (EOB) reconciliation, improving the quality of information, streamlining denial management, and by automating processes. Japan occupies the largest market share in the Asia revenue cycle management (RCM) market, progressing at a CAGR of 7.1% from 2014 to 2019. This growth is mainly attributed to the increasing adoption of new and updated versions of RCM solutions.
The RCM solution starts when a patient enters the hospital; it automates business processes leading to speedy follow ups, which encompasses patient and payer follow-ups. Hospitals need to maintain a faster RCM cycle to stay solvent, sustain requisite cash flow, and keep revenue figures stable.
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The purpose of this report is to cover the definition, description, and forecast of the Asia revenue cycle management market. It involves deep dive analysis of market segmentation which comprises sub-markets, products, and end users. The report also delivers strategic analysis of key players thriving in the Asia revenue cycle management system market. This market is mainly segmented on the basis of product, deployment, component, end-user, and geography. The revenue cycle management market, by type is segmented into integrated RCM systems and standalone RCM systems, while the market by deployment is further categorized into on-premise, web-premise, and cloud-premise. The revenue cycle management market by component comprises hardware, software, and services. End-users of this market include academics, ambulatory care solutions, hospitals, medical and diagnostic laboratories, and office based physicians.ncreased by the use of fertilizers and this has ultimately resulted in the increase in demand for nitrogen fertilizers.
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