North America Revenue Cycle Management Market Outlook

north america revenue cycle management (rcm) market outlook has been witnessing positive growth due to launch of advanced rcm software, new government initiatives and policies, and introduction of icd-10 code and ehr/emr systems. healthcare providers in the north american region, primarily in the u.s., have recognized the uniqueness of the rcm software and have shifted from manual processes to automated electronic processing for rcm needs. the region's medical-billing outsourcing industry is a multi-billion-dollar industry with estimated annual revenues of around $70 billion. various companies including cerner corporation, allscripts corporation, athenahealth, inc., mckesson corporation, and the ssi group are serving the north american rcm market by providing software, services, consulting, and training solutions.these companies are working to enhance their product offerings and services which are driving the market. to provide efficient services to the rcm market, the companies are also engaging in technological advancements and strategic mergers and acquisitions. for example, mckesson corporation, recently made a strategic acquisition of quest diagnostics which will increase its access to clinical resources, improve its capabilities in laboratory management solutions and diagnostics. furthermore, with the rising adoption of icd-10 code, providers in the north american region are moving onto the comprehensive medical coding system in an effort to digitize medical health records. this is further contributing to the growth of the rcm market. in addition, presence of major hospitals, key players, and presence of well-established healthcare providers in the u.s. region play a major role in the adoption of the rcm technology. the adoption of the technology is also driven by rising new york, and california based healthcare initiatives and policies. for instance, the centers for medicaid & medicare services policy is planning to launch the forthcoming quality payment program (qpp) in 2019, which will replace meaningful use incentives. this policy is expected to accelerate the rcm market growth in the coming years. overall, the changing regulatory and healthcare reforms are expected to accelerate the market growth opportunities and benefits for the healthcare providers in the north american region. it is expected that the north america revenue cycle management market will grow and become the leading region in terms of market share in the forecast period (2018 to 2032).