AI healthcare billing market to nearly triple by 2034

This comes as AI adoption moved to past the pilot stage.

The global artificial intelligence healthcare revenue cycle management (RCM) market is projected to reach $196.8b by 2034, as AI adoption has moved past the pilot stage, according to Research Intelo.

The think tank said 20% to 40% of surveyed organisations reported broad or enterprise-wide use of AI-enabled tools across parts of the revenue cycle.

Denial management is being cited as a key driver. Experian Health research found more than four in ten providers surveyed reported denial rates of at least 10%, with registration errors, inaccurate claim information and authorisation issues cited as major triggers.

By component, the market covers AI-enabled software platforms, analytics tools, automation software, and services including implementation, integration, consulting and support.

By application, it spans patient access, eligibility verification, prior authorisation, coding assistance, claims management, denial management, payment posting, accounts receivable, and underpayment detection.

Hospitals, health systems, physician practices, ambulatory surgery centres, and payers represent the primary end-user segments.

Barriers to adoption include data quality issues, privacy and security requirements for sensitive financial and clinical information, and integration complexity across multiple EHR, billing, claims and clearinghouse systems.