This report highlights key demand-side trends in the revenue cycle management (RCM) services sector, providing healthcare providers with insights to refine their revenue cycle and operational strategies. It covers significant trends and challenges in the RCM space, as identified through Avasant’s comprehensive assessment.
Why read this Market Insights?
Despite rising cost pressures, healthcare providers are investing in advanced technologies to deliver value-based care, aiming to boost patient satisfaction and enhance patient collection rates. By leveraging the latest automation and generative AI technologies, providers are reducing administrative expenses, optimizing care delivery, and improving margins while maintaining high-quality service standards. RCM service providers are concentrating on improving care quality, enhancing pricing transparency and reporting, and standardizing workflows and processes. These efforts collectively lead to superior patient experiences and more favorable business outcomes.
The Revenue Cycle Management (RCM) Business Process Transformation 2024 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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- Definition and scope of revenue cycle management (RCM) business process transformation, functionality, and features
- Key trends shaping the RCM services market
- Avasant recognizes 22 top-tier service providers offering RCM business process transformation services
Demand-side trends (Pages 8–14)
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- Healthcare providers are implementing advanced patient-centric RCM solutions to facilitate value-based care
- Providers are leveraging technology solutions across the RCM value chain to drive operational efficiency and streamline customer experience
- Providers are increasingly leveraging Gen AI across the RCM value chain to enhance operations and personalize RCM services
- Healthcare organizations are implementing advanced cybersecurity technologies to safeguard patient data and continue the digital RCM processes
- Improved margins are showing signs of stabilization, but providers continue to face increasing operating pressure
Key contacts (Page 15)
Read the Research Byte based on this report. Please refer to Avasant’s Revenue Cycle Management (RCM) Business Process Transformation 2024 RadarView™ for detailed insights on the service providers and supply-side trends.