Boost Efficiency & Revenue: 8 Reasons to Outsource RCM Services in 2024



Outsource RCM: Providers who spend too much on RCM staff and processes, or who experience a high rate of claims denials, should consider outsourcing their medical billing requirements. While our experts chase down payments, you can provide the care, receive the funds, and improve your key performance indicators.

Outsource RCM makes sense

Why Healthcare Providers Are Turning to RCM Outsourcing

Approximately 61% of providers plan to outsource RCM tasks in the future. Based on 2022 State of Healthcare Performance Improvement report, nearly one-third of hospital and health system leaders (63%) have pursued at least one outsourcing solution.

In the meantime, the global RCM outsourcing market is expected to grow by 17% annually from US$23.7 billion in 2022 to US$62.4 billion by 2028.

The benefits of outsource RCM are only increasing as the challenges associated with implementing RCM in-house increase. There has been an increase in the difficulty of both providing care and billing as a result of new, more stringent regulations. Financial pressures, including inflation and staff shortages, have intensified the need for better cash flow management. RCM is also complicate by mega mergers roiling the market landscape, including retailers acquiring primary care clinics and insurers acquiring providers.

https://www.allzonems.com/boost-efficiency-revenue-8-reasons-to-outsource-rcm-services-in-2024/

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