Healthcare RCM market to hit $261.84Bn by 2032: Wise Guy Reports
SOUTH CAROLINA, UNITED STATES — Artificial Intelligence (AI) is transforming healthcare revenue cycle management (RCM), with the global market projected to surge from $128.44 billion in 2024 to $261.84 billion by 2032. Driven by automation, value-based care, and patient engagement, AI-powered solutions are optimizing financial workflows for hospitals, insurers, and providers.
AI-driven efficiency fuels explosive market growth
According to Wise Guy Reports, cloud-based AI solutions are on the rise, thanks to their scalability and real-time analytics, enabling providers to reduce administrative expenses.
Healthcare companies like Athenahealth, Meditech, and Epic Systems Corporation have begun incorporating machine learning and generative AI to forecast delayed payments and maximize revenues.
For business-to-business (B2B) entities in the healthcare industry, this entails quicker reimbursements and reduced human error.
Value-based care and patient engagement push AI adoption
Value-based care will require advanced financial monitoring, which AI will facilitate in processing large amounts of data to predict reimbursement patterns. AI-powered RCM tools are associated with a decrease in claim denials, as well as improved adherence to changing regulations by hospitals.
Second, AI enhances patient engagement through transparent billing and personalized payment plans, which also increases collection rates.
Payer and provider workforces are focusing on managed services and AI consulting to gain a deeper understanding of complex reimbursement sets.
Emerging markets and integrated solutions
Firms that use integrated RCM services are gaining a competitive advantage. This can be illustrated by the fact that small practices are now able to compete with major hospitals in terms of revenue optimization due to the development of web-based platforms.
Insurance firms and government agencies are also utilizing AI to combat fraudulent claims and streamline Medicaid and Medicare claims.
