Road to 2025: 5 Revenue Cycle Management Trends That Are Shaping the Future of Healthcare

Looking further than 6 months ahead is a daunting task given the volatility of the last 2 years. Peering even farther into 2025 seems an impossibility even though it is right around the corner.

In a recent eBook publication, CorroHealth partnered with Healthcare IT Today to predict what the transformation of healthcare RCM (Revenue Cycle Management) will look like by 2025. The eBook, Road to 2025: Five Revenue Cycle Management Trends That Are Shaping the Future of Healthcare, compiled insights from industry data that point in the direction of several predictions RCM professionals should watch over the next few years.

Some gradual and some aggressive changes are anticipated regarding the health and advancement of Revenue Cycle Management. Spoiler alert, the five areas where the most change will be seen include:

1. Continued labor challenges
2. Advances in artificial intelligence
3. Prior Authorization requirements
4. The march to new payment models
5. Increasing value of and complexity with patient payments

The RCM space is dealing with over 60% of hybrid workers at risk of leaving.

80% of leading health systems who invested in Artificial intelligence expect it to help improve financial performance.

The importance of technology in prior authorizations can’t be ignored with the cost of a fully electronic transaction less than 20% the cost of manual.

RCM continues to establish closer working relationships with their clinical counterparts as Value Based Care expands its impact.

Patient payments are growing in importance given 31% of covered US workers enrolled in High Deductible Health Plans (HDHPs) in 2020.