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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.
Scope of the Report:
The global Healthcare RCM Outsourcing industry was 11713.04 million USD in 2017 and is projected to reach USD 22101.11 million USD by 2023, at a CAGR (Compounded Annual Growth Rate) of 11.16% between 2017 and 2023. 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.
The global Healthcare RCM Outsourcing market is valued at 13200 million USD in 2018 and is expected to reach 22100 million USD by the end of 2024, growing at a CAGR of 10.9% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Healthcare RCM Outsourcing.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Healthcare RCM Outsourcing market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Healthcare RCM Outsourcing market by product type and applications/end industries.
Market Segment by Companies, this report covers
- Conifer Health Solutions
- nthrive (Medassets + Precyse)
- optum360
- GeBBS Healthcare
- Change Healthcare (Emdeon)
- McKesson RelayHealth
- Parallon (HCA)
- MedData (Cardon Outreach)
- MedAssist (Firstsource)
- Availity
- The SSI Group
- Accretive Health (R1 RCM Inc)
- Cerner
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Pre-intervention
- Intervention
- Post-intervention
Market Segment by Applications, can be divided into
- Small/Rural Hospitals
- Community Hospitals
- Large Hospitals & Academic Medical Centers