The healthcare revenue cycle management market is divided into functions such as medical coding and billing, claims and denial management, payment remittance, eligibility verification, and others. Among these, the claims and denial management segment had a 28.4% revenue share in 2021 and is expected to grow at a faster rate during the analysis timeframe. Demand for claims and denial management services has increased due to increased awareness among the developed-world population.
These denial management services are intended to inform people about their rejections. Companies that provide these services assist in the analysis, tracking, and implementation of process improvements in order to eliminate recurring denials and maximise revenue. Such scenarios will increase demand for claim and denial management systems, enhancing the industry landscape.
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