Healthcare organizations use Revenue Cycle Management (RCM) to manage the administrative and clinical functions related to processing claims, receiving payments, and generating revenue. The cycle begins with a patient scheduling an appointment and continues until the final payment is received.
Due to increasing staff burnout cases, changing regulations, rising costs, and prioritizing improved patient experiences, there is a growing demand for third-party services to assist healthcare providers with their RCM operations. This has led to significant growth in the RCM services market, making it one of the fastest-growing segments in the healthcare industry.
Within RCM, managed services and technology products are two key solution types. Both play vital roles in optimizing healthcare financial processes and have unique advantages. In this viewpoint, we explore the collaborative relationship between healthcare enterprises and RCM service providers, particularly examining the contributions of these two partnership models (technology products and managed services). The report examines how these models address challenges and looks ahead to future-proofing RCM in the ever-evolving healthcare landscape.
Scope
Industry: RCM
Geography: global
The assessment is based on Everest Group’s proprietary research and transactional intelligence
