The Business Research Company’s report on the Healthcare RCM Outsourcing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the healthcare rcm outsourcing market in recent years?
The rise in healthcare spending is expected to propel the growth of the healthcare RCM outsourcing market going forward. Health expenditure refers to the final spending on 1healthcare goods and services. The growing healthcare expenditures have been driven by direct expenses on new testing and tracing systems, and indirect pandemic costs, such as additional personal protective equipment for frontline healthcare workers. Furthermore, the increasing price and intensity of healthcare-related services have increased government and other institutions’ healthcare spending. Due to such an increase in healthcare spending, there is a rise in demand for healthcare RCM outsourcing, which helps to boost provider revenue while minimizing administrative and managing other clinical related activities. For instance, in 2022, according to the Office for National Statistics, a UK-based national statistics organization, UK healthcare expenditure reached approximately $354.88 billion (£283 billion) in 2022, reflecting a nominal increase of 0.7% compared to spending in 2021. Therefore, increasing healthcare spending would drive the growth of the healthcare RCM outsourcing market.
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What is the projected market size of the healthcare rcm outsourcing industry, and how is it expected to grow?
The healthcare rcm outsourcing market size has grown rapidly in recent years. It will grow from $30.52 billion in 2024 to $34.67 billion in 2025 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to cost containment, focus on revenue optimization, efficiency and streamlining processes, industry consolidation, demand for specialized services.
The healthcare rcm outsourcing market size is expected to see rapid growth in the next few years. It will grow to $67.35 billion in 2029 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to increasing healthcare expenditure, global market expansion, cybersecurity and data privacy, cost efficiency, focus on patient experience. Major trends in the forecast period include complexity in healthcare billing, focus on cost reduction, regulatory changes and compliance, shift towards value-based care, provider focus on core competencies.
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Who are the key players driving competition in the healthcare rcm outsourcing market?
Major companies operating in the healthcare rcm outsourcing market are Conifer Health Solutions Inc., R1 Revenue Cycle Management Inc., McKesson Corporation, Parallon Business Solutions LLC, The SSI Group Inc., Cerner Corporation, Cognizant Technology Solutions Corporation, Optum360 Inc., Greenway Health LLC, Medvertex Inc., International Business Machines Corporation (IBM), MediRevv Inc., Drchrono Inc., Pulse Systems Inc., edgeMED Healthcare GmbH, Connvertex Technologies Inc., Meridian Management Group Inc., Bolder Healthcare Solutions LLC, Pyramid Healthcare Solutions Inc., Navigant Healthcare LLC, Cymetrix Corporation, BancTe Inc., Etransmedia Technology Inc., CCS Revenue Cycle Management LLC, MediGain Inc., CareCloud Inc., Change Healthcare Inc.
What key trends are expected to drive the healthcare quality management market during the forecast period?
Technological innovation is a key trend gaining popularity in healthcare RCM outsourcing. Major companies operating in the healthcare RCM outsourcing market are focused on delivering innovative solutions by incorporating artificial intelligence and machine learning in their RCM processes. Machine learning is a subfield of artificial intelligence and computer programming that utilizes algorithms and data to mimic the ways of human knowledge and gradually improve its accuracy. For instance, in June 2022, Olive AI, a US-based automation company creating the internet of healthcare, launched an autonomous revenue cycle (ARC) system to automate the revenue cycle management process in healthcare. Olive’s ARC reshapes RCM by reducing manual chores through intelligent automation, allowing healthcare businesses to focus more on patient care and reducing employee stress. It combines with pre-existing EHR and practice management systems to use an organization’s data sources and claims data over time to become more intelligent and efficient.
Which key geographies are driving the growth of the healthcare rcm outsourcing market?
North America was the largest region in the healthcare RCM outsourcing market share in 2024. The regions covered in the healthcare RCM outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the healthcare rcm outsourcing market?
The healthcare rcm outsourcing market covered in this report is segmented –
1) By Type: Pre-intervention, Intervention, Post-intervention
2) By Service: Back-end, Middle, Front-end
3) By End User: Clinics, Hospitals, Ambulatory Surgery Centers, Other End users
Subsegments:
1) By Pre-Intervention: Patient Registration, Insurance Verification, Eligibility Verification, Pre-Authorization Services
2) By Intervention: Charge Capture, Medical Coding, Billing And Collections, Claims Management
3) By Post-Intervention: Accounts Receivable Management, Denial Management, Payment Posting, Reporting And Analytics
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How is the healthcare rcm outsourcing market defined?
The healthcare RCM outsourcing refers to the outsourcing of financial processes used by healthcare facilities. It manages administrative and clinical claims processing, payment, and revenue-generating operations. The primary advantage of outsourcing hospital revenue cycle management is that it engages an outside team to handle administrative functions like invoicing, auditing, and other non-provider-related duties.
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