IDC Names Ricoh a 'Major Player' in the Revenue Cycle Management (RCM) Service Solutions Market
Jan 10, 2023
Summary
Report places Ricoh amongst the top technology solution providers enabling healthcare organizations to lower costs and improve care through RCM
Read time: 4 minutes
EXTON, Pa., Jan. 10, 2023 /PRNewswire/ -- Ricoh USA, Inc. announced that it has been named a Major Player in the 2022-2023 IDC MarketScape for the United States Revenue Cycle Management (RCM) Service Solutions Report. This is a first for Ricoh and a critical milestone in the company's emergence as a leading information management provider. The IDC MarketScape notes, "Ricoh's RCM service solution aims to deliver next-generation services across the RCM ecosystem to different care settings, especially mid-to-large size Integrated Delivery Networks (IDNs) and hospitals."
"Revenue cycle management is more vital now than ever before. The market needs vendors capable of delivering non-traditional capabilities that maximize revenue optimization and minimize denials," said Mutaz Shegewi, Research Director, Worldwide Provider IT Transformation Strategies, IDC. "Ricoh was noted for its substantial pre-arrival clearance and communication channels in its RCM service solution and a comprehensive range of assets that further bolster its solution. With that, Ricoh has an excellent opportunity to build on its existing assets and cater its solution to the shifting and emerging needs of the market over time."
The report emphasizes Ricoh's expertise in pre-arrival clearance, helping customers act on RCM before the patient even arrives, "where it matters most." Other strengths that differentiate Ricoh include the ability to optimize patient engagement through multi-channel communication.
"As providers begin to offer insurance plans and insurers acquire healthcare practices, we see a great opportunity for Ricoh to drive cross-industry efficiencies and grow our RCM service offerings," said Rory Fitzpatrick, Vice President, Vertical Markets, Ricoh USA, Inc. "This MarketScape validates Ricoh's efforts to provide paperless and automated solutions for many critical aspects of the revenue cycle and patient encounter process."
Ricoh's growth in healthcare is being driven by a core concentration in enabling its customers to connect, secure, and unlock the power of information. By implementing information management technologies that make data more accessible and provide automation from end to end, experiences across the care continuum are improved for patients, providers, and staff, leading to greater operating efficiency and revenue capture. It's a novel solution for evolving health systems and RCM that delivers innovation by enhancing each of the potential friction points a patient can experience in seeking and receiving care.
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About IDC MarketScape
About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
| About Ricoh |
Ricoh is empowering digital workplaces using innovative technologies and services that enable individuals to work smarter from anywhere.
With cultivated knowledge and organizational capabilities nurtured over its 85-year history, Ricoh is a leading provider of digital services, information management, and print and imaging solutions designed to support digital transformation and optimize business performance.
Headquartered in Tokyo, Ricoh Group has major operations throughout the world and its products and services now reach customers in approximately 200 countries and regions. In the financial year ended March 2022, Ricoh Group had worldwide sales of 1,758 billion yen (approx. 14.5 billion USD).
For further information, please visit www.ricoh.com
© 2023 Ricoh USA, Inc. All rights reserved. All referenced product names are the trademarks oftheir respective companies.
SOURCE Ricoh USA, Inc.
