Mid-revenue cycle management solutions and services encompass clinical coding, clinical documentation improvement, charge capture, clinical documentation, diagnosis-related grouping, pre-bill review, and consulting services. In its latest publication on the mid-revenue cycle management/clinical documentation improvement market, Meticulous Research analyses that the mid-revenue cycle management/clinical documentation improvement market is expected to grow at a CAGR of 6.6% from 2020 to 2027 to reach $4.55 billion.
Factors such as the growing need to manage unstructured healthcare data, rising healthcare expenditure, and alterations in revenue due to medical billing errors are majorly driving the mid-revenue cycle management/clinical documentation improvement market. In addition, changing technological scenario in developing economies and integrating AI with healthcare revenue cycle management provide great opportunities for this market’s growth.
To provide efficient analysis, Meticulous Research has segmented this market by product & services [solutions (clinical coding, clinical documentation improvement, charge capture, clinical documentation, diagnosis-related grouping, and pre-bill review), consulting services], End User [healthcare providers (inpatient settings, outpatient settings), healthcare payers] and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Scope of the Report:
Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, by Product and Service
- Clinical Coding
- Clinical Documentation Improvement
- Charge Capture
- Clinical Documentation
- Diagnosis-related Grouping
- Pre-bill Review
- Consulting Services
Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, by End User
- Healthcare Providers
- Inpatient Settings
- Outpatient Settings
- Healthcare Payers
Mid-Revenue Cycle Management/Clinical Documentation Improvement Market, by Geography
- North America
- Rest of Europe (RoE)
- Asia Pacific
- Australia & New Zealand
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Rest of Latin America (RoLATAM)
- Middle East & Africa
To gain more insights into the market with a detailed table of content and figures, click here : https://www.meticulousresearch.com/product/clinical-documentation-improvement-market-5012
In 2020, geographically, North America is projected to command the largest share of the mid-revenue cycle management/clinical documentation improvement market, followed by Europe and Asia-Pacific. Growing adoption of various healthcare IT solutions by healthcare providers, the need to curb the loss of revenue due to medical billing and coding errors, and the growing need to improve the quality of healthcare while maintaining the operational efficiency of healthcare organizations are some of the key factors driving the growth of the mid-revenue cycle management/clinical documentation improvement market in the region.
In 2020, based on product & service, the solutions segment is estimated to command the largest share of the mid-revenue cycle management/clinical documentation improvement market. The need to ensure accurate clinical documentation, coding, billing, data accuracy, and eliminate coding errors and manual coding practices drive this segment’s growth.
In 2020, based on end user, the healthcare providers segment is projected to command the largest share of the mid-revenue cycle management/clinical documentation improvement market. The declining reimbursement rates and various initiatives to reduce healthcare spending are expected to fuel the adoption of mid-revenue cycle management/clinical documentation improvement solutions among healthcare providers.
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including are nThrive, Inc. (U.S.), Dolbey Systems, Inc. (U.S.), 3M Company (U.S.), UnitedHealth Group Incorporated (U.S.), Streamline Healthcare Solutions, LLC (U.S.), Vitalware, LLC (U.S.), Iodine Software LLC (U.S.), Craneware plc (U.K.), Epic Systems Corporation (U.S.), ChartWise Medical Systems, Inc. (U.S.), Nuance Communication, Inc (U.S.), and Cerner Corporation (U.S.).
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