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Global Healthcare Revenue Cycle Management Market, Forecast to 2028
Global Healthcare Revenue Cycle Management Market, Forecast to 2028
AI, Analytics, and Automation-enabled Solutions Enhancing Transformative Potential of Healthcare RCM
16-Nov-2023
North America
Market Research
Description
Healthcare challenges such as workforce shortages, decline in revenue and operating margins, patient payment collection issues, complex claims compliance requirements, and increased patient expectations for seamless experience are compelling healthcare providers to rethink their revenue cycle management (RCM) approach. Providers are realizing the importance of a robust RCM strategy to address revenue and margin challenges. Improving turnaround time from service to payment is a key focus of RCM strategies. Effective and efficient payer-provider coordination will be a competitive advantage for providers. Growing shift toward value-based care, process-specific inefficiencies such as the need for a digital front door, error-prone coding and documentation, and poor denial management drive the demand for technology-driven RCM solutions. Healthcare leaders consider RCM a top healthcare IT strategy, highlighting their appetite for new technology adoption. Intelligent technologies such as conversational AI, Generative AI, and automation will spur the transformational growth of the RCM market.
Author: Sagar Mukhekar
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Healthcare Revenue Cycle Management (RCM) Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Solution Segmentation of RCM
End User Segmentation of RCM
Segmentation by Geography
Key Competitors
Key Competitors (continued)
RCM Process Pathway—Selected Financial Metrics and Statistics
Current State of the RCM
Key Provider Challenges
RCM—Phase-wise Challenges and Key Value Propositions
Key Trend—VBC and its Impact on RCM
RCM Companies Driving Providers’ VBC Goals
Key Trend—Align Goals of Payment Integrity and Revenue Integrity
Key Trend—Growing Pressure of Claim Denials and Management
Key Trend—Automation in RCM Functions
Key Trend—Focus on Healthcare Price Transparency
Key Trend—Promising Gen AI Use Cases across RCM Cycle
Gen AI—High-impact RCM Functions
Clinical Documentation—Top RCM Function with Gen AI Activities
Voices from the Industry—How do RCM Solutions Impact the Revenue Cycle Process?
Growth Metrics
Growth Drivers
Growth Restraints
Forecast Assumptions
Revenue Forecast
Revenue Forecast by Solution
Revenue Forecast by End User
Forecast Analysis
Pricing Trends and Forecast Analysis
Revenue Forecast by Region
Revenue Forecast Analysis by Region
Analysis of the Attractiveness of RCM Solutions
Result—Regional Attractiveness Ranking and Mapping
Competitive Environment
Revenue Share
Revenue Share Analysis
Competitive Overview
Competitive Overview (continued)
Company Spotlight
Company Spotlight
Company Spotlight
Company Spotlight
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Forecast Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Forecast Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Forecast Analysis
Growth Opportunity 1: Conversational AI for Front-end RCM
Growth Opportunity 1: Conversational AI for Front-end RCM (continued)
Growth Opportunity 2: Automation for Efficient RCM
Growth Opportunity 2: Automation for Efficient RCM (continued)
Growth Opportunity 3: Hybrid RCM Approach
Growth Opportunity 3: Hybrid RCM Approach (continued)
Growth Opportunity 4: Blockchain for RCM
Growth Opportunity 4: Blockchain for RCM (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
| Deliverable Type | Market Research |
|---|---|
| Author | Sagar Mukhekar |
| Industries | Healthcare |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Revenue Cycle Management |
| Keyword 2 | Healthcare Revenue Cycle |
| Keyword 3 | Revenue Cycle Process In Healthcare |
| Podcast | No |
| WIP Number | K963-01-00-00-00 |