According to the latest report by IMARC Group, titled “Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 20.1 Billion in 2021. Looking forward, IMARC Group expects the healthcare RCM outsourcing market to reach US$ 53.5 Billion by 2027, exhibiting at a CAGR of 17.6% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Revenue cycle management (RCM), also known as medical billing, is one of the vital aspects of a healthcare business. Successful RCM activities can help an organization in optimizing non-medical services which range from registration and scheduling appointments to final balance payments. In recent years, an increasing number of healthcare organizations have shifted from in-house management towards outsourcing RCM activities as it helps in efficient allocation of financial and human resources. Moreover, technological advancements and changing government regulations have led various healthcare organizations to seek expert assistance for their RCM activities.
Global Healthcare RCM Outsourcing Market Trends:
Healthcare RCM outsourcing provides a number of other benefits besides reducing the non-clinical task burden on hospitals and physicians. An expert RCM provider offers improved coverage of unpaid accounts along with enhancing the cash flow. In addition, outsourcing reduces staffing issues and training as the organizations stay acquainted with the latest coding systems and other changes in healthcare regulations. This helps in increasing the overall productivity of the healthcare organization as well as improves patient and physician satisfaction. Moreover, RCM service providers offer the ability to easily scale up the provider’s requirement, thereby creating opportunities for business expansion without any need for either human or infrastructure resources. However, outsourcing is not a viable option for healthcare providers with limited budget as the fee is higher for smaller number of claims.
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Healthcare RCM Outsourcing Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global healthcare RCM outsourcing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Conifer Health Solutions
Emdeon Business Services
MedAssets
McKesson
Parallon Business Solutions
The SSI Group
Key Market Segmentation:
The report has segmented the global healthcare RCM outsourcing market on the basis of type, services, end-user, end user and region.
Breakup by Type:
Pre-intervention
Intervention
Post-intervention
Breakup by Services:
Back-end
Middle
Front-end
Breakup by End-User:
Hospitals
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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