Healthcare RCM Outsourcing Market to Reach $56.44 Billion by 2028 at 16.0% CAGR, Driven by Rising Healthcare Spending

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Healthcare RCM Outsourcing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $41.76 billion In 2028 At A CAGR Of 15.1%:

The healthcare rcm outsourcing market size has grown rapidly in recent years. It will grow from $27.17 billion in 2023 to $31.18 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. 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 $56.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. 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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Healthcare RCM Outsourcing Market Major Segments
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 Centres, Other End users

Key Driver - Healthcare Spending Surge Is A Catalyst For Growth In Healthcare Rcm Outsourcing Market

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 July 2022, according to OECD Health Statistics 2022, health spending increased by roughly 6% on average in 2021. Additionally, in May 2022, according to JPMorgan Chase & co. report, overall healthcare spending increased by 23% in 2021. Therefore, increasing healthcare spending would drive the growth of the healthcare RCM outsourcing market.

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Prominent Trend - Innovative Trends In Healthcare Revenue Cycle Management Outsourcing Through The Impact Of Artificial Intelligence And Machine Learning

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 practise management systems to use an organization's data sources and claims data over time to become more intelligent and efficient.

Healthcare RCM Outsourcing Market Players
Major companies operating in the healthcare rcm outsourcing market report are Conifer Health Solutions Inc., MedAssets 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, Xtelligent Healthcare Media LLC, Connvertex Technologies Inc., Meridian Management Group Inc., General Electric Company, 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., Emdeon Inc., Precyse Solutions LLC, CareCloud Inc., Change Healthcare Inc., Clearlake Capital Group L.P.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the healthcare RCM outsourcing market share in 2023. The regions covered in the healthcare rcm outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Healthcare RCM Outsourcing Market Report Structure
3. Healthcare RCM Outsourcing Market Trends And Strategies
4. Healthcare RCM Outsourcing Market - Macro Economic Scenario
5. Healthcare RCM Outsourcing Market Size And Growth
…..
27. Healthcare RCM Outsourcing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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