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RCM Business Process Transformation 2023 RadarView™
The RCM Business Process Transformation 2023 RadarView™ assists organizations in identifying strategic partners for RCM services by offering detailed capability and experience analyses of service providers in this space. It provides a 360-degree view of the service providers across practice maturity, domain ecosystem, and investments and innovation, thereby supporting enterprises in identifying the right RCM services partner. The 66-page report highlights top supply-side trends in the RCM services space and Avasant’s viewpoint.
RCM Business Process Transformation 2023 Market Insights™
The RCM Business Process Transformation 2023 Market Insights™ assists organizations in identifying important demand-side trends that are expected to have a long-term impact on any RCM services project. The report also highlights key challenges that enterprises face today.
Digitization to Improve Patient Convenience and Drive Profitability
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.