Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
The Next Generation RCM is Prioritizing Consumer Centricity
save 15 %
* Required Fields
Pay by invoice
This study primarily strives to:• Analyze the market forces affecting the utilization of next-generation Revenue Cycle Management (RCM) IT and service solutions among US hospitals and physician practices.• Evaluate the latest regulatory objectives that mandate episodic financial risk management initiatives.• Highlight the best practices in the areas of how RCM IT and service solutions are procured, deployed, and optimized.• Assess the outlook of outsourced or shared service-based RCM operating models.• Identify 5 major growth opportunities related to RCM.• Estimate the revenue potential of the total US RCM market (software applications and services), and include breakdowns by hospitals and physician practices, from 2019 to 2024.• Shortlist vendors that propose best-in class RCM IT and service solutions for hospitals and physician practices.Market Overview: • CMS’ tough stand on the final rule of Quality Payment Program (QPP), that increased reporting requirements for Merit-based Incentive Payment System (MIPS) participants in 2020 and 2021, will establish the value-based payment program as the predominant revenue model for all payers and providers in the next few years. Hence, the focus on RCM IT and service solutions that enable financial risk and quality management at an enterprise level will be intensified. This will also lead larger health systems consolidating their overall spend on core RCM IT solutions to fewer number of incumbent or prominent market participants.• Patients’ direct contribution to total provider revenue is increasing rapidly, allowing payers and providers to invest on self-service tools that improve patients’ overall financial experience by helping them schedule appointment, verify benefit eligibility, estimate financial responsibility, and facilitate secured payment online, from anywhere.• More patients are also deferring payment on their healthcare bills—resulting in cash flow issues and solvency concerns for providers. Hence, back-end RCM processes continue to be important. RCM service providers that specialize on medical billing, bad debt collection and complex contract management (e.g., Worker’s Compensation Framework) will be working more closely with both payers (to provide input on sustainable premiums) and providers (to manage A/R).• The RCM outsourcing market is likely to sustain its strong momentum; however, business models remain inconsistent and contingent on the strength of providers’ incumbent clinical documentation, coding, claims pre-authorization and denial management capabilities.• The RCM vendor market is going to be expanded to niche and third-party RCM service providers that render IT automation consumer centricity, EMR interoperability, and RCM performance reporting functions.• In the foreseeable future, progressive technologies (Natural Language Processing (NLP), voice assistants, Machine Learning (ML), chat bots) will become essential components of all advanced RCM portfolios that are used to reduce physician burden, improve coders’ productivity, reduce denials, and manage financial risk.Author: Koustav Chatterjee
Global In Vitro Diagnostics Market Outlook, 2021
Growth Opportunities Arising due to the Use of Commercial AI Models in Radiology
Growth Opportunities in the Global Professional Headset Market, Forecast to 2027
Growth Opportunities for Communications, Collaboration, and Contact Center Technologies in the Government Sector
Global Computed Tomography Growth Opportunities
Global Medical Imaging & Informatics Outlook, 2021
Frost Radar™: Artificial Intelligence-enabled Drug Discovery in the Global Pharmaceutical Industry, 2021
Frost Radar™: US Population Health Management Market, 2021
Investing in Communications and Collaboration Tools to Empower Frontline Workers
Transformative Mega Trends of the Extended Care Market in KSA
industrial robotics market
functional beverage market
dietary supplements market
solar cell market
food preservatives market
natural gas market
consumer electronics market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.