evenue cycle management healthcare

Rising healthcare and operational costs pose a challenge to improving patient experience, collections, and provider margins, making them vulnerable to recession. Though physician and provider productivity is increasing as patients continue to reengage and seek care that was put off during the pandemic, there was a 12% YOY increase in median investment/subsidy per provider FTE. Healthcare providers also need to address patients expecting seamless digital interactions, desiring convenience and empowerment in their care journey to improve their experience. In order to support these, they increasingly rely on revenue cycle management (RCM) service providers’ expertise through outsourcing. This is evident from a 15%–25% increase in the revenue of RCM outsourcing service providers in 2021–2022. Both demand-side and supply-side trends are covered in our RCM Business Process Transformation 2023 Market Insights™ and RCM Business Process Transformation 2023 RadarView™, respectively.

July, 2023