The healthcare RCM outsourcing market share in the US is expected to increase by USD 1.67 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.75%.

This healthcare RCM outsourcing market in the US research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the healthcare RCM outsourcing market in the US segmentations by service (back-end services, middle services, and front-end services). The healthcare RCM outsourcing market in the US report also offers information on several market vendors, including 3M Corp., Allscripts Healthcare Solutions Inc., CareCloud Inc., Change Healthcare Inc., Clearlake Capital Group L.P., Conifer Health Solutions LLC, DrChrono Inc., EdgeMED Healthcare LLC, Epic Systems Corp., Firstsource Solutions Ltd., Greenway Health LLC, MedData Inc., NextGen Healthcare Inc., Optum360 Inc., Parallon Business Solutions, Quest Diagnostics Inc., R1 RCM Inc., The SSI Group LLC, Vee Technologies, and Vizient Inc. among others.

What will the Healthcare RCM Outsourcing Market Size in the US be During the Forecast Period?

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Healthcare RCM Outsourcing Market in the US: Key Drivers, Trends, and Challenges

The improvement in healthcare administrative processes is notably driving the healthcare RCM outsourcing market growth in the US, although factors such as offshore outsourcing intensifying competition in the market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the healthcare RCM outsourcing industry in the US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Healthcare RCM Outsourcing Market Driver in the US

The improvement in healthcare administrative processes is one of the key drivers supporting the healthcare RCM outsourcing market growth in the US. The rising costs and administrative expenses in the evolving regulatory environment have propelled increased usage of the RCM outsourced service and made it an attractive proposition for healthcare providers. As the market is continuously evolving with technological advances, an RCM solution provides both operational and cost-reduction advantages. In the current data-driven economy, it is continually being recognized as a tool for competitive advantage. Moreover, a healthcare RCM solution contributes to revenue growth, compliance, and overall improvement in organizational transparency. Thus, all these factors inflate the end-user base and drive the consumption of the US healthcare revenue cycle management (RCM) outsourcing market.

Key Healthcare RCM Outsourcing Market Trend in the US

Increasing consolidation in the healthcare RCM outsourcing market is one of the key healthcare RCM outsourcing market trends in the US that is contributing to the market growth. The overall market in the US has a multitude of vendors fighting for market share while providing healthcare RCM outsourcing services. In this increasingly competitive market, every vendor is on the perpetual search for operational, financial, and strategic advantage. Due to such factors, several high-profile M&As have been witnessed in the US healthcare RCM outsourcing market over the years, driven by inorganic growth strategies. Thus, the trend of increasing consolidation is estimated to continue in the forecast period as the US healthcare RCM outsourcing market is expected to witness a flurry of end-to-end RCM solution providers through the efficient and cost-effective integration of all the aspects of the RCM cycle.

Key Healthcare RCM Outsourcing Market Challenge in the US

Offshore outsourcing intensifying competition is one of the factors hindering the healthcare RCM outsourcing market growth in the US. This competition is mostly provided by emerging countries such as India and China with their massive IT services sector and low labor cost. With globalization, there is increasing acceptance and proliferation of offshore outsourcing elements across sectors in the US. Significantly, the offshore outsourced RCM vendors in the emerging economies offer greater scale in terms of cost-efficiency, as the man-hour labor rates are minuscule compared to their counterparts in the US. In view of this, these offshore elements are expected to lead to an industry-wide price war as they are expected to drive down the profits for the outsourced RCM vendors established in the US. These factors may impede the US healthcare revenue cycle management outsourcing market growth during the forecast period.

This healthcare RCM outsourcing market in the US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the healthcare RCM outsourcing market in US as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the healthcare RCM outsourcing market in the US during the forecast period.

Who are the Major Healthcare RCM Outsourcing Market Vendors in the US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• 3M Corp.
• Allscripts Healthcare Solutions Inc.
• CareCloud Inc.
• Change Healthcare Inc.
• Clearlake Capital Group L.P.
• Conifer Health Solutions LLC
• DrChrono Inc.
• EdgeMED Healthcare LLC
• Epic Systems Corp.
• Firstsource Solutions Ltd.
• Greenway Health LLC
• MedData Inc.
• NextGen Healthcare Inc.
• Optum360 Inc.
• Parallon Business Solutions
• Quest Diagnostics Inc.
• R1 RCM Inc.
• The SSI Group LLC
• Vee Technologies
• Vizient Inc.

This statistical study of the healthcare RCM outsourcing market in the US encompasses successful business strategies deployed by the key vendors. The healthcare RCM outsourcing market in the US is fragmented and the vendors are deploying growth strategies such as improved margins, productivity, scale, and an increased portfolio of product offerings to compete in the market.

Product Insights and News

• 3M Corp. - The safety and industrial segment focuses on industrial abrasives and finishing for metalworking applications, autobody repair solutions, closure systems for personal hygiene products, masking, and packaging materials. 
• 3M Corp. - The company offers revenue cycles that automate coding and reduce burdens on clinical staff. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The healthcare RCM outsourcing market in the US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Healthcare RCM Outsourcing Market in the US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the healthcare RCM outsourcing market in the US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Service Segments in the Healthcare RCM Outsourcing Market in the US?

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The healthcare RCM outsourcing market share growth in the US by the back-end services segment will be significant during the forecast period. The back-end services segment dominates due to mission-critical processes such as account receivable, billing, and compliance requirement services within this segment. This segment encompasses the post-intervention activities with the patient. Denials management and account receivable management are the most demanded services in this segment, while compliance requirement is the most crucial service considering the dynamic rate of the healthcare industry transformation. Such increasing demand for back-end services will drive the US healthcare revenue cycle management (RCM) outsourcing market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the healthcare RCM outsourcing market size in the US and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Healthcare RCM Outsourcing Market in the US Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive healthcare RCM outsourcing market growth in the US during the next five years
• Precise estimation of the healthcare RCM outsourcing market size in the US and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the healthcare RCM outsourcing industry in the US  
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of healthcare RCM outsourcing market vendors in the US 

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