Key players of the global revenue cycle management (RCM) market intend to focus on strategic collaborations including agreements, mergers & acquisitions, and joint ventures to increase their market share. For instance, in July 2014, Allscripts Healthcare Solutions, Inc. (U.S.) acquired Oasis Medical Solutions Limited (U.K.), which is a London-based patient administration system (PAS) and health informatics solution provider.
The Oasis PAS system was developed over 18 years in partnership with numerous NHS trusts, which provided direct, effective, and extensible administrative workflow across all venues of healthcare. By integrating the Oasis PAS technology and the Allscripts Sunrise clinical platform, Allscripts was able to deliver highly competitive, single-source offering for an innovative and advanced electronic patient record solution across the U.K. Additionally, in June 2014, Chart Logic, Inc. (U.S.) entered into a partnership with Kareo (U.S.) that will allow the company to offer best-of-breed revenue cycle management solutions.
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To sustain growth, the leading players of the global revenue cycle management (RCM) also lays emphasis on new product launches. For instance, in March 2014, Greenway Medical Technologies (U.S.) launched an advanced revenue cycle management (RCM) service, PrimeARM(R), in order to aid physicians attain their financial objectives by streamlining the collection, utilization, and delivery of critical patient and claims information.
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Furthermore, in January 2014, RelayHealth Financial (U.S.) unveiled a new version of RelayAnalytics Pulse, the company’s flagship comparative analytics solution. This product assisted hospitals and healthcare systems to compare revenue and cash flow, view financial records, measure productivity, automate processes and calculation of KPIs to quantify improvement opportunities, perform root cause analysis, focus on areas for improvement, and rationalize investments with data-driven decisions.
Major participants operating in the global revenue cycle management (RCM) market are Quest Diagnostics (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Athenahealth, Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), eClinicalWorks, Inc. (U.S.), CareCloud Corporation (U.S.), The SSI Groups, Inc. (U.S.), GE Healthcare (U.K.), Epic Systems (U.S.), Siemens Healthcare (Germany), and Kareo, Inc. (U.S.).
