Rising Uptake of Cloud-Based Services to Accentuate Healthcare RCM Outsourcing Market


Published Date : Oct 23, 2017

ALBANY, New York, Oct 23, 2017 –MarketResearchReports.biz has announced the addition of a new report, titled “Global Healthcare RCM Outsourcing Market 2015-2019.” The comprehensive report on the global healthcare revenue cycle management (RCM) outsourcing market offers an elaborate assessment of key factors driving and restraining the market, emerging trends and notable opportunities, lucrative prospects in various regions, recent technological advancements, and share of key segments. The study offers insights into revenue sizing of major service segments and the competitive landscape.

The research offers a granular reports of major developments in the healthcare industry and various platforms along with the factors affecting their implementation. The study takes a closer look at disruptive technologies expected to shape the strategies of key players in the global healthcare RCM outsourcing market. The global market for healthcare RCM outsourcing is projected to rise at a CAGR of 17.55% during the period 2014-2019. Major regions covered are the Americas, the Europe and the Middle East and Africa (EMEA), and Asia Pacific (APAC).

Healthcare service providers world over are constantly pressed with the challenge of attaining the twin goal of quality care and at reduced price. Their declining revenue earnings and profitability in recent years has triggered the need for improving revenue cycle management, stimulating them to outsource these activities. This is a key factor driving the evolution of the market. The growing demand for front-end and back-end services in managing a wide array of administrative services in hospitals and other healthcare institutions is a key factor driving the global healthcare RCM outsourcing market.

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The demand for innovative practices for improving patient-centric organizations is expected to boost the demand for robust RCM solutions. The intensifying need for improving efficiencies in administrative processes is a key factor boosting the demand for RCM in the healthcare sector. Some of the major end users are hospitals, physician groups, self-insured organizations, and health systems.

The rising adoption of electronic health records (EHR) in hospitals in various emerging and developed economies is expected to catalyze the demand for healthcare RCM outsourcing.  The outsourcing of RCM activities has helped healthcare service providers in effectively managing claims, improving their processing, and streamlining medical billings and payments. The dynamic regulatory environments in several developing and developed nations is a primary factor accentuating the demand for outsourcing RCM functions. The outsourcing of RCM services in the healthcare industry has enabled various players in maintaining hassle-free regulatory compliance as per recent industry norms in various countries.

The growing prominence of cloud-based deployment model is a prominent trend expected to catalyze the growth of the market during the forecast period. This may be attributed to lower up-front costs and increasing accessibility of platforms based on cloud. Furthermore, the advent of innovative solutions in developed markets is a key factor bolstering the uptake. Service providers are providing an integrated RCM platform that offers end-to-end solutions to healthcare providers. This is expected to accentuate the market in major regions. The advent of next generation technology solution with advanced IT capabilities is likely to assist healthcare service providers to maximize their return on investment. Intensifying government initiatives for increasing the coverage of healthcare delivery across populations in several developing economies is a key factor likely to bolster the demand for healthcare RCM outsourcing.

Several players are focused on launching cutting-edge workflows and proprietary software and specialized coding services to consolidate their presence in various regions. Key players operating in the global healthcare revenue cycle management outsourcing market include Accretive Health, The SSI Group, Parallon Business Solutions, MedAssets, Emdeon Business Services, Navigant Healthcare Cymetrix, Conifer Health Solutions, Meridian Medical Management, McKesson Corporation, Team Health Holdings, and Bolder Healthcare Solutions.

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