HOME Research Insight Partnerships and Collaborations is the Key Growth Strategy Adopted by Players Operating in the Global Revenue Cycle Management Market

Partnerships and Collaborations is the Key Growth Strategy Adopted by Players Operating in the Global Revenue Cycle Management Market

McKesson Corporation (U.S.), Cerner Corporation (U.S.), Quest Diagnostics Incorporated (U.S.), athenahealth, Inc. (U.S.), and eClinicalWorks, LLC (U.S.) are the leading players in the global revenue cycle management market. The strong position of these companies in the market can primarily be attributed to their global presence and broad product portfolio. Other major players in the market include Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Experian plc (Ireland), Conifer Health Solutions (U.S.), and GeBBS Healthcare Solutions (U.S.).

p align="justify">McKesson Corporation seeks to build solutions to enhance the revenue cycle management workflow in the healthcare organizations. The company strategically concentrates on developing core technologies in RCM to expedite the claims processing and payments. For this purpose, the company primarily pursues the strategies of partnerships and collaborations with healthcare organizations. In 2016, the company signed agreements with various healthcare organizations in the U.S., some of which include Munster Radiology Group P.C. (MRG) (U.S.), Dominion Pathology Associates, PC (U.S.), and Valley Emergency Room Associates (VERA) (U.S.).

Cerner Corporation aims to develop and deliver integrated revenue cycle management solutions with its broad product portfolio. The company pursued strategies such as partnerships and acquisitions to strengthen its presence and increase its share in the revenue cycle management market. In accordance with this, the acquisition of Siemens Health Services (U.S.) in January 2015 has further strengthened its revenue cycle management portfolio. In October 2016, Cerner expanded its partnership with Olathe Health System (U.S.) to integrate its Millennium Revenue Cycle with enterprise- wide electronic health record (EHR).

Quest Diagnostics Incorporated is a provider of HCIT services that integrate clinical connectivity and data management solutions. The company’s strategy mainly focuses on partnering with companies that would enhance its service offerings in the revenue cycle management market. In line with this strategy, in September 2016, the company partnered with Optum, Inc., a U.S. based healthcare IT company. In September 2015, the company launched Data Diagnostics, a cloud- based data analytics in collaboration with Inovalon (U.S.).

athenahealth, Inc., is another major player operating in the market. It mainly focuses on entering into partnerships and acquiring key players with an aim to expand its business operations. In line with this strategy, athenahealth entered into partnership with different several universities, medical centers, and non-profit organization to increase enhance its capabilities and competency in the RCM market. For instance, in April 2016, athenahealth, Inc. partnered with Michigan State University’s (MSU) HealthTeam (U.S.), a multi-speciality faculty group to provide athenahealth’s athenaOne suite, a cloud-based EHR system. In April 2016, athenahealth, Inc. acquired Arsenal Health (U.S.) to strengthen its product portfolio.

eClinicalWorks, LLC is a provider of cloud-based services and network to big and mid-sized healthcare organizations. eClinicalWorks mainly focuses on expansions and partnerships to enhance its market presence. In November 2015, the company partnered with Specsavers (U.K.), an eye- care service provider.
Companies in the revenue cycle management market are majorly focusing on partnerships, collaborations, and agreements for strengthening their market share; this strategy accounted for 72.6% of the total number of strategic developments undertaken by key players in this market.

Related Reports:

Revenue Cycle Management Market by Product type (Integrated RCM, Standalone RCM), Component (Services, Software), Deployment (Web-based, on premise, Cloud-based), End-User (Hospital, Physician, Laboratory, Pharmacy), Geography - Global Forecast to 2021

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