FLORIDA, UNITED STATES – The healthcare industry is poised for a major transformation in revenue cycle management (RCM) as artificial intelligence (AI) and strategic outsourcing partnerships gain momentum.
A recent study by Everest Group, supported by Omega Healthcare, found that 85% of senior healthcare executives believe AI will significantly enhance RCM performance over the next five years. The survey gathered insights from 41 C-suite executives, senior vice presidents, and directors of RCM operations at healthcare organizations across the U.S. to evaluate the role of technology-driven RCM outsourcing.
Growing Shift Toward Outsourcing in RCM
Healthcare providers are increasingly turning to strategic outsourcing partnerships to tackle operational challenges and strengthen financial performance. The integration of generative AI (Gen AI) is a key driver of this shift, with 51% of healthcare leaders expecting their RCM outsourcing budgets to increase by 2030.
“To fully leverage AI’s capabilities, healthcare providers will need to collaborate with the right partners,” says Anurag Mehta, CEO and Co-Founder of Omega Healthcare.
The Rise of Gen AI in RCM and Its Challenges
Currently, 51% of healthcare organizations have adopted Gen AI in their RCM processes, utilizing it for real-time eligibility verification, claims data analysis, and AI-driven patient support. However, nearly 80% of executives cite challenges such as limited in-house expertise and difficulties integrating AI with existing electronic health record (EHR) systems.
Despite these hurdles, many organizations are already seeing tangible benefits from Gen AI investments, including improved collections and reduced Aged Accounts Receivable balances, according to Vijayashree Natarajan, Senior Vice President & Head of Technology at Omega Healthcare.
As the healthcare sector evolves, priorities are shifting toward cybersecurity, payer collaboration, and automation through AI. By 2030, 66% of healthcare leaders expect AI and machine learning (ML) to be at the core of RCM strategies, reinforcing AI’s critical role in revolutionizing healthcare operations.
