Black Book projects the market for outsourced revenue cycle management will grow at a compound annual growth rate of 26.5 percent through 2018.
The market is expected to reach a value of $9.7 billion by 2018. More than half of healthcare organization CFOs (54 percent) believe outsourcing RCM functions would improve efficiency and their organizations' financial health, according to the report.
Outsourcing already has a significant foothold in the RCM market; 83 percent of hospitals outsource some accounts receivable and collections. Other outsourced services include:
• Contract management: 58 percent
• Denial management: 55 percent
Black Book's top ranked RCM outsourcing vendors for 2015 include:
• Optum360 for hospital managed systems corporations, systems, networks and chains
• Emdeon for hospitals under 150 beds
• Conifer Health for hospitals with more than 150 beds
Other top vendors include The Advisory Board, McKesson's RelayHealth, Dell, Adreima, MedAssets and TruBridge, according to the report.