RCM Outsourcing on the Rise Due to COVID-19 and Changing Reimbursement Models
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The pandemic reinforced the need for healthcare organizations to digitalize and automate their customer-facing patient experience processes. Healthcare providers report higher digital engagement and telehealth utilization, as over 50% of patients expect providers to have digital capabilities. Key areas healthcare providers are focused on improving include patient scheduling, secure online auto-payment options, telehealth and remote patient monitoring, and financial counseling with increased price transparency. Further, the shift from fee-for-service reimbursement to value-based care is driving healthcare providers to focus on core operations and enhanced patient experience. This has increased the outsourcing of RCM middle- and back-office functions. COVID-19 and a move to value-based care have incentivized the adoption of digital operations in RCM. These trends are covered in Avasant’s new
Business Agility and Resilience Drive Demand for Risk and Compliance Services
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COVID-19 has emphasized the need for regulatory compliance, internal compliance controls, and the use of security frameworks and tools. Meanwhile, the regulatory environment is increasingly complex, particularly for multinational companies, as they struggle to comply with sometimes conflicting regulations across regions. Risks have changed with a growing cloud environment and increasingly diverse IT service portfolio. The need for a strong governance, risk, and compliance (GRC) partner has grown. These emerging trends are covered in Avasant s Risk and Compliance Services 2020-2021 RadarView™ report.
Risk and Compliance
Services 2020-2021
AI emerges as the foundation of enterprise decision-making
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Over the past 12 months, the number of artificial intelligence (AI) and advanced analytics projects in production has increased by 54%. Much of this growth is due to AI-enabled digital workplace solutions and self-services capabilities, allowing for low-touch operations needed during the pandemic. New use cases have emerged in areas such as advertising, media, and marketing where consumers now expect personalized content and communications. AI is creating a shift in how enterprises consume data and make decisions. These emerging trends are covered in Avasant’s new Applied AI and Advanced Analytics Services 2021 RadarView report™.
Consumers increasingly shifting to digital media content
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Digital content is growing exponentially as a result of the proliferation of smart devices and evolving customer preferences. With more than 3.8B people accessing digital content on a regular basis, media & entertainment companies are upgrading the quality and quantity of content to increase customer engagement. Moreover, the use of digital technologies such as cloud, artificial intelligence (AI), and analytics is playing a critical role in providing personalized services to include special recommendations, globalized content, experiential entertainment, and customized communications to customers. These trends are covered in Avasant’s new Media & Entertainment Digital Services 2021-2022 RadarView™ report.
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