Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

RCM Outsourcing on the Rise Due to COVID-19 and Changing Reimbursement Models

The pandemic reinforced the need for healthcare organizations to digitalize and automate their customer-facing patient experience processes. Healthcare providers report higher digital engagement and telehealth utilization, as over 50% of patients expect providers to have digital capabilities. Key areas healthcare providers are focused on improving include patient scheduling, secure online auto-payment options, telehealth and remote patient monitoring, and financial counseling with increased price transparency. Further, the shift from fee-for-service reimbursement to value-based care is driving healthcare providers to focus on core operations and enhanced patient experience. This has increased the outsourcing of RCM middle- and back-office functions. COVID-19 and a move to value-based care have incentivized the adoption of digital operations in RCM. These trends are covered in Avasant's new RCM Business Process Transformation 2021 RadarView™ report.


News provided by

AvasantLLC

Apr 28, 2021, 13:00 ET

Share this article

Share toX

Share this article

Share toX

RCM Business Process Transformation 2021 RadarView™
RCM Business Process Transformation 2021 RadarView™

LOS ANGELES, April 28, 2021 /PRNewswire-PRWeb/ -- Healthcare providers are facing pressure to shift from fee-for-service reimbursement payment models to value-based care models which emphasize patient outcomes. This shift is driving digital transformation with a focus on core operations and enhanced patient experience. COVID-19 is also accelerating this trend, particularly when it comes to digital patient experiences such as telehealth and remote patient monitoring. This digital transformation is driving providers to outsource more revenue cycle management (RCM) functions.

These emerging trends are covered in Avasant's new RCM Business Process Transformation 2020 RadarView™ report. The report is a comprehensive study of RCM service providers, including top trends, analysis, recommendations, and a close look at the leaders, innovators, disruptors, and challengers in this market.

COVID-19 reinforced the need for remote diagnostics and care solutions, forcing healthcare providers toward digital transformation...This led to unprecedented growth in the adoption of automation, AI, platforms, and customer engagement apps to transform operations.

Post this

Avasant evaluated over 40 service providers across three dimensions: practice maturity, domain ecosystem, and investments and innovation. Of the more than 40 providers, we recognize 19 as having brought the most value to the market during the past 12 months.

The report recognizes service providers in four categories:

  • Leaders: Access Healthcare, Conifer, Omega Healthcare, Optum, and R1 RCM
  • Innovators: Cognizant, GeBBS, Genpact, HGS, and nThrive
  • Disruptors: AGS Health, Atos, Ciox, Sutherland, and Wipro
  • Challengers: Corrohealth, Ensemble Health, Exela Technologies, and IKS Health

Avasant Partner Nishant Verma congratulated the winners. "COVID-19 reinforced the need for remote diagnostics and care solutions, forcing healthcare providers toward digital transformation," he said. "This led to unprecedented growth in the adoption of automation, AI, platforms, and customer engagement apps to transform operations."

Some of the findings from the full report include the following:

  • The pandemic reinforced the need for digitization and automation of all patient touchpoints, including scheduling, payment, and telehealth, to reduce no-shows and boost satisfaction.
  • Healthcare consumerism is pushing providers to focus on meeting customer expectations regarding price transparency and patient experience, thus accelerating the self-service technology available to patients.
  • Increased denials, due to rising errors during manual intervention in coding, insurance eligibility verification, patient information capture, and claims submissions, are plaguing providers. This has increased the adoption of robotic process automation (RPA) and artificial intelligence (AI) in mid-cycle and backend processes.
  • RCM providers are pursuing mergers and acquisitions with technology vendors and service providers to offer end-to-end RCM services, augment predictive analytics solutions, and enhance cloud-based RCM capabilities.

"RCM service providers are expanding their digital and domain capabilities and have enabled low-/no- touch operations for several healthcare providers," said Avasant's Research Leader Saurabh Verma. "This is forging strategic partnerships between them and we expect an increase in frequency and scope of outsourcing engagements in the near future."

The full report also features detailed RadarView profiles of 19 service providers, along with their solutions, offerings, and experience in assisting enterprises in digital RCM transformation.

This Research Byte is a brief overview of the RCM Business Process Transformation 2021 RadarView™ report

Media Contact

Swapnil Bhatnagar, AvasantLLC, +1 310 643 3030, [email protected]

LinkedIn

SOURCE AvasantLLC

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.