IMARC Group’s latest study, titled “ Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ”, finds that the global healthcare RCM outsourcing market crossedRevenue 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 In recent years, an increasing number of health care organizations have shifted from in-house management towards out-sourcing RCM activities as it helps in efficient allocation of financial and human resources.
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Global Healthcare RCM Outsourcing Market Trends:
Healthcare RCM outsourcing offers a number of other benefits besides reducing the non-clinical task burdens on hospitals and physicians. An expert RCM provider offers an account with an account of unpaid coverage that enhances the cash flow. This help in increasing the overall productivity of the health care organization as well as other health care regulations. Moreover, RCM service offering strengths However, 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 smallerLooking forward, the global healthcare RCM outsourcing market reached a value of US$ 14.6 Billion in 2020
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Global Healthcare RCM Outsourcing Market Segmentation:
- On the basis of type, the market has been segmented into pre-intervention, intervention andAmongst these, pre-intervention RCM services are the leading category, holding the majority of the market share.
- Based on services, back-end services which handle claim management and reimbursements represent the leading segment, accounting for the largest share. Other major segments include middle services and front-end services.
- On the basis of application, hospitals account for the majority of market share as an increasing number of hospitals are outsourcing RCM activities so as to reduce costs and focus on providing value-based healthcare.
- Based on geography, North America leads the global healthcare RCM outsourcing market on account of the growing adoption of latest technologies such as hospital information systems and electric health record (EHR). Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market is highly fragmented with the key players being Emdeon Business Services, McKesson, Conifer Health Solutions, Parallon Business Solutions, The SSI Group and MedAssets.
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