Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028

Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028

The global healthcare RCM outsourcing market size reached US$ 23.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.4% during 2023-2028.

Revenue Cycle Management (RCM) is a financial process which is used for managing payment, claim processing and revenue generation. It is utilised by medical billing companies or healthcare facilities for the purpose of addressing issues and following up the claims process. There are numerous benefits which are offered by RCM outsourcing such as doctors have a better control and understanding of their revenue cycles. It also helps in maintaining billing operations and reducing the operating costs of office infrastructure, software and equipment.

Market Trends:
Governments across various nations have been introducing stringent regulations over the past few years regarding healthcare, due to which there has been a significant rise in the operating costs of healthcare facilities and medical billing companies. This has created opportunities for outsourcing companies to assist them in revenue cycle management which acts as a major factor driving the growth of the global healthcare RCM outsourcing market. In addition to this, healthcare facilities have been facing several issues like rising financial challenges which has resulted in the need for augmented speed of billing. This, in turn, has highly contributed towards a propelling growth in the demand for RCM outsourcing agencies. Moreover, other factors which are bolstering the growth of the market include increasing industrialisation and urbanisation rates as well as a rapid rise in the prevalence of diseases across the globe.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare RCM outsourcing market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, services and end-user.

Breakup by Type:

Pre-intervention
Intervention
Post-intervention

Based on type, the market has been segmented as pre-intervention, intervention and post-intervention.

Breakup by Services:

Back-end
Middle
Front-end

The market has been further segregated on the basis of services which include back-end services, middle services and front-end services. Among these, back-end services hold the majority of the market share.

Breakup by End-User:

Hospitals
Others

On the basis of end-user, hospitals represent the largest segment.

Regional Insights:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America is the leading market owing to the rising adoption of advanced technologies which include electric health record (EHR) systems and hospital information systems.

Competitive Landscape:
Some of the leading players operating in the market are:

Conifer Health Solutions
Emdeon Business Services
MedAssets
McKesson
Parallon Business Solutions
The SSI Group

This report provides a deep insight into the global healthcare RCM outsourcing market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the healthcare RCM outsourcing industry in any manner.

Key Questions Answered in This Report
1. What was the size of the global healthcare RCM outsourcing market in 2022?
2. What is the expected growth rate of the global healthcare RCM outsourcing market during 2023-2028?
3. What has been the impact of COVID-19 on the global healthcare RCM outsourcing market?
4. What are the key factors driving the global healthcare RCM outsourcing market?
5. What is the breakup of the global healthcare RCM outsourcing market based on the type?
6. What is the breakup of the global healthcare RCM outsourcing market based on the services?
7. What is the breakup of the global healthcare RCM outsourcing market based on the end-user?
8. What are the key regions in the global healthcare RCM outsourcing market?
9. Who are the key players/companies in the global healthcare RCM outsourcing market?