Market Research Report
Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||662772|
|Published||Content info||108 Pages
Delivery time: 2-3 business days
|Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 108 Pages||
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. According to the latest report by IMARC Group, titled "Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global healthcare RCM outsourcing market reached a value of US$ 11.7 Billion in 2018.
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. Looking forward, the market value is projected to reach a value of US$ 21.9 Billion by 2024, expanding at a CAGR of 11% during 2019-2024.