U.S. Healthcare Denial Management Market - Industry Outlook & Forecast 2022-2027
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this U.S. Healthcare Denial Management Market Report
The U.S. healthcare denial management market size was valued at USD 3.57 billion in 2021 and is expected to reach USD 5.94 billion by 2027, growing at a CAGR of 8.86% during the forecast period.
Over the past several years, the claim denial rates in hospitals moved upwards but reached new highs with the public health emergency of COVID-19. During this time, the medical claim denials have risen 11% nationwide in the US, with the most denial rates accounting for 13.1% in the Pacific Coast and 12.9% in the Northeast. In the US, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was developed for providing healthcare resources that were needed to fight COVID-19. CARES Act included medical billing provisions, leading to an uptick in claim denials. This will further drive Healthcare Claims Management in the country.
The following factors are likely to contribute to the growth of the healthcare denial management market –
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