This report identifies key demand-side trends in the revenue cycle management (RCM) services space, helping healthcare providers fine-tune their revenue cycle and operational strategies. It consists of key trends and enterprise challenges in the revenue cycle services space, based on Avasant’s assessment.
Why read this Market Insights?
Although the healthcare industry has been slow to adopt digital technologies, healthcare providers’ margins continue to be under pressure. Therefore, they are focusing on developing and investing in capabilities that help them reduce their administration costs and enable value-based care to ensure effective care delivery, improve margins, and offer high-quality services. RCM outsourcing providers are focusing on enhancing care quality, improving pricing transparency and reporting, and standardizing workflow and processes, leading to better patient experience and business outcomes.
The RCM Business Process Transformation 2023 Market Insights™ aims to provide a view into important market trends and developments to help build a granular understanding of the RCM services ecosystem.
Methodology
The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Defining RCM services
- Key trends shaping the RCM services market
- Avasant recognizes 21 top-tier providers supporting the enterprise adoption of RCM services
Demand-side trends (Pages 8–12)
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- Razor-thin margins are putting hospitals under pressure and making them vulnerable to recession.
- Healthcare provider expenditure continues to rise due to inflation and might take a toll on their margins.
- To drive value-based care, providers need to engage with patients at a higher level and invest in additional reporting.
- Rise of consumerism is leading patients to increasingly look for elements that improve their convenience and data security.
Key contacts (Page 13)
Read the Research Byte based on this report.
Please refer to Avasant’s RCM Business Process Transformation 2023 RadarView™ for detailed insights on the service providers and supply-side trends.
