|By PR Newswire||
|June 26, 2013 10:17 AM EDT||
NEW YORK, June 26, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US Physician Revenue Cycle Management
This study provides a roadmap for understanding technology applications and collection services used in the physician revenue cycle management (RCM) market. Included is an overview of trends in physician demographics and medical practice organization, national health expenditures, and healthcare reform. The study discusses physicians' adoption of health information technology including EHRs and practice management systems used for revenue cycle and outlines key trends in next generation RCM technology. Competitive market issues including business and pricing approaches and profiles of key competitors are provided. Market forecasts for the total market and key market segments (applications and services) for 2012 through 2017 are included.
•Revenue cycle management (RCM) solutions are used to help medical practices maximize the collection of payments from insurance companies and/or patients by rationalizing a number of complex processes and steps that occur across the entire patient-accounts pathway.
•A number of different applications are utilized to address specific tasks involved with managing the physician revenue cycle. RCM applications are usually classified in two segments—stand alone applications, which are installed or web-based applications designed to support a specific function related to RCM but are not integrated with end-to-end practice management systems or clinical systems; and integrated applications, which are installed or web-based applications that combine end-to-end practice management capabilities and may also be integrated or interfaced with clinical system, system (electronic health records).
•In addition to applications, many physicians use a range of services to help manage the RCM process. These services are performed by independent billers, practice management companies, or RCM technology vendors.
•A large number and variety of vendors serve the physician RCM market. Many vendors offer both applications and services, while others specialize in one or the other. Some vendors only address the physician market and some sell products and/or services across a variety of care settings that includes hospitals.
•Today, there are well over Xtechnology vendors serving the physician RCM market in some capacity. In addition, there are over X vendors of RCM services for the physician market, many of which are small one-person businesses. Many competitors in the physician RCM market offer both technology (applications) and services.
•In recent years, RCM solutions have taken a backseat to clinical solutions because of providers' focus on adopting electronic health records (EHRs) needed to meet meaningful use (MU). As the MU program matures, medical practices are expected to shift their focus to RCM in order to prepare for changes in reimbursement and patient demographics.
•The emphasis in the health IT market is increasingly expanding beyond EHRs into the next wave of tools needed to support accountable care, particularly next-generation RCM, which includes solutions for patient engagement, analytics for clinical decision support and risk management, and team-based care coordination.
•Today, revenue cycle processes and workflows are receiving unprecedented attention as medical practices realize they must take every measure to maximize revenue and address inefficiencies and shortfalls in getting paid fully and on a timely basis. Many medical practices will need to significantly re-engineer their entire RCM function, and most seek solutions that offer robust integration between clinical and financial systems.
•The current penetration of physician RCM applications, both stand-alone and integrated systems, is about X%. Many RCM applications used in medical practices today are legacy systems that have been in use for many years and most are not fully integrated with end-to-end practice management systems or clinical systems.
•In terms of services, it is estimated that approximatelyX% of physician practices use some kind of external service to help manage their RCM needs. Vendors charge medical practices a percentage of the total reimbursement collected from payers or patients. The majority of revenue attributed to the physician RCM market are due to services rather than applications.
•Total revenue for the US physician RCM market is estimated at $X million for the base year, 2012. This figure includes revenue derived from RCM applications and services. Computer hardware is excluded from this calculation.
•Total market revenue is expected to increase X% from 2012 to 2017. Market revenue is expected to peak at $X million in 2016. After that, total revenue is expected to decline to $X million in 2017, primarily as a result of increased market saturation, the move from installed software to web-based solutions, and downward price pressures impacting the increasingly competitive market for RCM applications.
•The total market revenue CAGR for the period 2012 to 2017 is X%.
Key Questions This Study Will Answer • What does the physician RCM process entail, and what are the key products and services utilized for this process? • What drives the current need for physician practices to adopt new RCM products and services, and what are the next generation functionalities that are most sought after? • What are key macro trends impacting the physician RCM market today, and how will these influence the demand for RCM products and services over the next 5 years? • What are the key competitive metrics encompassing the market for RCM products and services? • What is the current penetration of RCM products and services used in physician practices, and who are the leading vendors providing these solutions? • What are the expected revenues for the total physician RCM market and key market segments over the next 5 years?
Table of Contents
Executive Summary 4
Study Scope and Research Methodology 11
Macro Trends: National Health Expenditures and Physician Demographics 18
Introduction to Physician Revenue Cycle Management 42
Information Technology Systems in Physician Practices 51
Total Physician Revenue Cycle Management Market –
External Challenges: Drivers and Restraints 68
Competitive Market Structure 80
Competitor Profiles 87
Forecast and Trends 103
Demand Analysis 116
The Last Word 119
To order this report:
: US Physician Revenue Cycle Management
Contact Clare: [email protected]
US:(339) 368 6001
Intl:+1 339 368 6001
Datapipe has acquired GoGrid, a provider of multi-cloud solutions for Big Data deployments. GoGrid’s proprietary orchestration and automation technologies provide 1-Button deployment for Big Data solutions that speed creation and results of new cloud projects. “GoGrid has made it easy for companies to stand up Big Data solutions quickly,” said Robb Allen, CEO, Datapipe. “Datapipe customers will achieve significant value from the speed at which we can now create new Big Data projects in the clou...
Jan. 25, 2015 03:30 AM EST Reads: 1,484
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 25, 2015 03:00 AM EST Reads: 2,066
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 25, 2015 03:00 AM EST Reads: 1,700
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your o...
Jan. 25, 2015 02:00 AM EST Reads: 2,620
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Jan. 25, 2015 01:45 AM EST Reads: 2,198
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
Jan. 25, 2015 01:00 AM EST Reads: 2,427
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Jan. 25, 2015 12:30 AM EST Reads: 3,364
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
Jan. 24, 2015 11:45 PM EST Reads: 2,319
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
Jan. 24, 2015 11:45 PM EST Reads: 1,640
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Jan. 24, 2015 11:00 PM EST Reads: 2,645
SYS-CON Media announced today that PagerDuty has launched a popular blog feed on DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done.
Jan. 24, 2015 11:00 PM EST Reads: 1,258
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
Jan. 24, 2015 11:00 PM EST Reads: 2,333
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
Jan. 24, 2015 11:00 PM EST Reads: 1,441
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that ...
Jan. 24, 2015 09:00 PM EST Reads: 1,692
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
Jan. 24, 2015 07:00 PM EST Reads: 1,347