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Revenue Cycle Management can be defined as the management of all administrative and clinical functions that directly or indirectly contribute to the revenues through patient service to optimize overall profits. Revenue cycle management undergoes various processes such as patient registration, eligibility, and verification for insurance, medical coding, claims processing, and payments AR management. The process of RCM enables healthcare facilities to optimize revenues through claims processing. Primarily, there are four prominent elements of RCM that includes patients, healthcare provider, billing company, and insurance payers. The global revenue cycle management market was valued at $35,419 million in 2016, and is projected to reach $85,008 million by 2023, growing at a CAGR of 13.7% from 2017 to 2023.
Original Article: Revenue Cycle Management Market by Type Standalone, Integrated, Component Type Software, Services, Deployment Cloud, Onpremise, Enduser Hospitals, Physicians, Diagnostic ambulatory care centers Global Opportunity Analysis and Industry Forecast, 20172023NEXT ARTICLE
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