Market Segmentation
The rising interest of consumers in care management process is one of the key drivers for growing adoption of mHealth technologies by patients. The popularity of mHealth apps is rising among physicians. These apps help in diagnosis, consulting, monitoring, and treatment of common diseases. Healthcare providers are increasingly showing interest in such services and are recommending these to patients. The adoption of mHealth in healthcare organizations is high, and 90% of the organizations have implemented or are planning to implement mHealth initiatives at patient rooms, physician offices, and nursing stations. Advancements in wearable and connected health technologies is also one of the key factors driving the adoption of mHealth. Growing dependence upon wearables for monitoring physical activity and tracking health is a key factor responsible for considerable growth of wearable technologies.
As these apps are available on smartphones, doctors have easy access and can easily look for medical information. For instance, UpToDate is an app that allows access to general questions that a physician normally asks. About 100 hospitals in the UK have subscribed to UpToDate app. mHealth offers benefits such as cost reduction, enhanced accessibility, and communication services between remote patients and healthcare providers. Over 90% of the apps are free and users can easily download these from the app store. Increasing availability of mHealth apps and its profile of wellness and fitness providers is expected to drive the growth of mHealth market.
The healthcare industry can leverage the efficacy & economic value presented by third-party RCM service providers and focus more on their key purpose, which is patient care. The changing aspects of outsourcing in healthcare RCM are largely driven by finances, business prospects, and value addition. The major advantages of outsourcing RCM tasks include availability of skilled & trained professionals, cost-effective & efficient services, and compliance with rules & regulations. Reventics aligned with Mathlogic to establish a Center of Excellence (COE) for clinical analytics in Hyderabad. The COE will help develop a value-centric patient care system.
Healthcare facilities witness challenges in terms of resource allotment & management, rising costs, and management of insurance claims. This increases the need for skilled professionals with technical knowledge to manage HIT systems deployed at these facilities. However, the RCM system is a recent development in healthcare IT. Hence, there is a dearth of skilled professionals who can efficiently manage this system. RCM systems can aid in management of billing & reimbursements and data analysis across the healthcare industry. Skilled professionals are required to manage these complex functions. To minimize the impact of this restraint, hospitals and other healthcare facilities are outsourcing either whole or a part of their RCM process.
This section will provide insights into the contents included in this U.S. revenue cycle management market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance