Revenue Cycle Trends 2023 – Whitepaper

Innovative practices are being proactively followed in healthcare despite seismic changes like the adoption of virtual health, payers’ disruption, staff shortages, and extension of giving care outside the hospitals. With the Center for Medicare & Medicaid Innovation (CMMI) releasing its innovation strategy for the decade, the objectives guiding its pursuit are:

  • Growth and improvement of accountable care
  • Health equity advancements
  • Innovative support care
  • Improvement of access by addressing affordability
  • Promoting partnerships for achieving care transformation

It is estimated that 30 million to 35 million additional Medicare lives will be covered in accountable care relationships by 2030 if the objectives are robustly met. As we move into 2023 sequential improvement will be seen backed by strategic moves of the healthcare service organizations in the revenue management cycle domain post-pandemic despite the global headwinds. Tracking the healthcare trends with a streamlined approach will help deal with the rising outsourcing demand and market expansion.

Estimates indicate that by 2025, the US will have a shortage of:

  • 446,300 home health aides
  • 98,700 medical and lab technologists/technicians
  • 95,000 nursing assistants
  • 29,400 nurse practitioners

Furthermore, insights from a recently released report indicate that demand for healthcare support workers, technicians, and other practitioners is expected to grow faster.

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