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Healthcare RCM Outsourcing Market in the US by Service - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 100
  • SKU: IRTNTR73191
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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?

Healthcare RCM Outsourcing Market Size

Download the Free Report Sample to Unlock the Healthcare RCM Outsourcing Market Size in the US for the Forecast Period and Other Important Statistics

 

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?

Healthcare RCM Outsourcing Market Market segmentation by region

To gain further insights on the market contribution of various segments Request for a FREE sample

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.

 

Healthcare RCM Outsourcing Market Scope in the US

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.75%

Market growth 2022-2026

$ 1.67 billion

Market structure

Fragmented

YoY growth (%)

6.67

Regional analysis

US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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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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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 05: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 06: Parent market
    • Exhibit 07: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 08: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 09: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 10: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 11: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 12: Chart on US: Year-over-year growth 2021-2026 (%)
      • Exhibit 13: Data Table on US: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 14: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 15: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 16: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 17: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 18: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 19: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 20: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Service

    • 5.1 Market segments
      • Exhibit 21: Chart on Service - Market share 2021-2026 (%)
      • Exhibit 22: Data Table on Service - Market share 2021-2026 (%)
    • 5.2 Comparison by Service
      • Exhibit 23: Chart on Comparison by Service
      • Exhibit 24: Data Table on Comparison by Service
    • 5.3 Back-end services - Market size and forecast 2021-2026
      • Exhibit 25: Chart on Back-end services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 26: Data Table on Back-end services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 27: Chart on Back-end services - Year-over-year growth 2021-2026 (%)
      • Exhibit 28: Data Table on Back-end services - Year-over-year growth 2021-2026 (%)
    • 5.4 Middle services - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Middle services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Middle services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Middle services - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Middle services - Year-over-year growth 2021-2026 (%)
    • 5.5 Front-end services - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Front-end services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Front-end services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Front-end services - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Front-end services - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Service
      • Exhibit 37: Market opportunity by Service ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 38: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Drivers, Challenges, and Trends

    • 7.1 Market drivers
      • 7.2 Market challenges
        • 7.3 Impact of drivers and challenges
          • Exhibit 39: Impact of drivers and challenges in 2021 and 2026
        • 7.4 Market trends

          8 Vendor Landscape

          • 8.1 Overview
            • 8.2 Vendor landscape
              • Exhibit 40: Overview on Criticality of inputs and Factors of differentiation
            • 8.3 Landscape disruption
              • Exhibit 41: Overview on factors of disruption
            • 8.4 Industry risks
              • Exhibit 42: Impact of key risks on business

            9 Vendor Analysis

            • 9.1 Vendors covered
              • Exhibit 43: Vendors covered
            • 9.2 Market positioning of vendors
              • Exhibit 44: Matrix on vendor position and classification
            • 9.3 3M Corp.
              • Exhibit 45: 3M Corp. - Overview
              • Exhibit 46: 3M Corp. - Business segments
              • Exhibit 47: 3M Corp. - Key news
              • Exhibit 48: 3M Corp. - Key offerings
              • Exhibit 49: 3M Corp. - Segment focus
            • 9.4 Allscripts Healthcare Solutions Inc.
              • Exhibit 50: Allscripts Healthcare Solutions Inc. - Overview
              • Exhibit 51: Allscripts Healthcare Solutions Inc. - Business segments
              • Exhibit 52: Allscripts Healthcare Solutions Inc. - Key offerings
              • Exhibit 53: Allscripts Healthcare Solutions Inc. - Segment focus
            • 9.5 Change Healthcare Inc.
              • Exhibit 54: Change Healthcare Inc. - Overview
              • Exhibit 55: Change Healthcare Inc. - Business segments
              • Exhibit 56: Change Healthcare Inc. - Key news
              • Exhibit 57: Change Healthcare Inc. - Key offerings
              • Exhibit 58: Change Healthcare Inc. - Segment focus
            • 9.6 Clearlake Capital Group L.P.
              • Exhibit 59: Clearlake Capital Group L.P. - Overview
              • Exhibit 60: Clearlake Capital Group L.P. - Product / Service
              • Exhibit 61: Clearlake Capital Group L.P. - Key offerings
            • 9.7 Conifer Health Solutions LLC
              • Exhibit 62: Conifer Health Solutions LLC - Overview
              • Exhibit 63: Conifer Health Solutions LLC - Product / Service
              • Exhibit 64: Conifer Health Solutions LLC - Key offerings
            • 9.8 Firstsource Solutions Ltd.
              • Exhibit 65: Firstsource Solutions Ltd. - Overview
              • Exhibit 66: Firstsource Solutions Ltd. - Business segments
              • Exhibit 67: Firstsource Solutions Ltd. - Key offerings
              • Exhibit 68: Firstsource Solutions Ltd. - Segment focus
            • 9.9 MedData Inc.
              • Exhibit 69: MedData Inc. - Overview
              • Exhibit 70: MedData Inc. - Product / Service
              • Exhibit 71: MedData Inc. - Key offerings
            • 9.10 Optum360 Inc.
              • Exhibit 72: Optum360 Inc. - Overview
              • Exhibit 73: Optum360 Inc. - Product / Service
              • Exhibit 74: Optum360 Inc. - Key offerings
            • 9.11 Parallon Business Solutions
              • Exhibit 75: Parallon Business Solutions - Overview
              • Exhibit 76: Parallon Business Solutions - Product / Service
              • Exhibit 77: Parallon Business Solutions - Key offerings
            • 9.12 The SSI Group LLC
              • Exhibit 78: The SSI Group LLC - Overview
              • Exhibit 79: The SSI Group LLC - Product / Service
              • Exhibit 80: The SSI Group LLC - Key offerings

            10 Appendix

            • 10.1 Scope of the report
              • 10.2 Inclusions and exclusions checklist
                • Exhibit 81: Inclusions checklist
                • Exhibit 82: Exclusions checklist
              • 10.3 Currency conversion rates for US$
                • Exhibit 83: Currency conversion rates for US$
              • 10.4 Research methodology
                • Exhibit 84: Research methodology
                • Exhibit 85: Validation techniques employed for market sizing
                • Exhibit 86: Information sources
              • 10.5 List of abbreviations
                • Exhibit 87: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Healthcare RCM Outsourcing market growth will increase by $1676.61 million during 2022-2026.
              The healthcare rcm outsourcing market is expected to grow at a CAGR of 7.75% during 2022-2026.
              Technavio has segmented the healthcare rcm outsourcing market by service (Back-end services, Middle services, and Front-end services) and geographic (US).
              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. are a few of the key vendors in the healthcare rcm outsourcing market.
              North America will register the highest growth rate of 100% among the other regions. Therefore, the healthcare rcm outsourcing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the healthcare rcm outsourcing market growth are:
              • Improvement in healthcare administrative processes
              • Increasing consolidation in the healthcare RCM outsourcing market
              The healthcare rcm outsourcing market vendors should focus on grabbing business opportunities from the back-end services segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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