Global Healthcare RCM Outsourcing Market to 2018 – 2025: Conifer Health Solutions, MedAssist (Firstsource), optum360, Change Healthcare (Emdeon), McKesson RelayHealth, Parallon (HCA)

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This report focuses on the global Healthcare RCM Outsourcing status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare RCM Outsourcing development in United States, Europe and China.

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Healthcare industry is undergoing a transition with increased competition among healthcare service providers. Currently, companies are more focused on providing quality care at lower price to their patients. Increasing healthcare cost is an alarming concern in this industry. In order to achieve cost savings, the industry players have introduced significant innovations in non-clinical solutions such as simplified administrative costs. The administrative components comprise all the services that range from front-end to back-end services. The process starts from gathering information from patients, documentation record, submitting, analyzing, and eventually paying for medical bills. This whole spectrum of administrative services is considered as healthcare RCM. Revenue cycle management (RCM) is the fundamental process that enables a company to be paid for providing their services. For most healthcare providers, RCM includes everything from pre-registering a patient all the way through the final zero balance invoicing for a particular visit.

The market is driven by various end-users, such as small/rural hospitals, community hospitals, large hospitals & academic medical centers. As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas company prefers investing to underdevelopment regions these years.

Revenue management analytics is gaining traction in the healthcare industry due to its ability to align the activities and documentation of front-end physician practice managers and administrators and the back-end central billing office. Analytics is helping in delivering insightful results and streamlining operations as well as improving patient collections, workflows, and patient care.

In todays challenging circumstances, outsourcing the administrative functions to third-parties seem to be a reasonable solution. This will not only help physicians focus on their core task by freeing up their time and resources but will also improve their practices revenue. Practices and hospitals that have outsourced their revenue cycle management function to third-party experts have experienced significant improvement in their collection rates, denial resolution efficiency, patient satisfaction rates, and revenue.

The market for Healthcare RCM Outsourcing is fragmented with players such as Conifer Health Solutions, nthrive (Medassets + Precyse), optum360, Change Healthcare(Emdeon), McKesson RelayHealth, Parallon(HCA), MedData(Cardon Outreach), MedAssist(Firstsource), The SSI Group, Availity, Accretive Health(R1 RCM Inc), GeBBS Healthcare, Cerner and so on.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.

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Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions unfair methods of competition.

In 2017, the global Healthcare RCM Outsourcing market size was 11700 million US$ and it is expected to reach 29000 million US$ by the end of 2025, with a CAGR of 12.0% during 2018-2025.

The key players covered in this study
Conifer Health Solutions
nthrive (Medassets + Precyse)
optum360
Change Healthcare (Emdeon)
McKesson RelayHealth
Parallon (HCA)
MedData (Cardon Outreach)
MedAssist (Firstsource)
The SSI Group
Availity
Accretive Health (R1 RCM Inc)
GeBBS Healthcare
Cerner

Market segment by Type, the product can be split into
Pre-intervention
Intervention
Post-intervention

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Market segment by Application, split into
Small/Rural Hospitals
Community Hospitals
Large Hospitals & Academic Medical Centers

Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America

The study objectives of this report are:
To analyze global Healthcare RCM Outsourcing status, future forecast, growth opportunity, key market and key players.
To present the Healthcare RCM Outsourcing development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.

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