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Albert Roy
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September 23, 2020

Referral Management Market Set to Register Robust CAGR During 2020-2025

The Global Referral Management Market is projected to reach a value of over USD 5.3 billion by 2027 at a CAGR of around 9.1%.

Referral management is a system tool for the healthcare industry which can track patient’s referral throughout the care. These transitions occur during the critical movement of patients such as a rise in patients care or change in disease diagnosis. Referral management takes place from specialist to specialist, from emergency room discharge to provider or from primary care provider to the specialist. Multichannel referral consolidation reduced referral leakage, increase operational efficiency, referral completion, improved patients satisfaction and complete referral analytics are some of the advantages offered by referral management process.

Referral Management Market: Drivers & Restraints

Market Driver:

  • Increasing Government Initiatives in Healthcare

Governments in developing nations are focusing on the growth of healthcare service and improving the overall healthcare infrastructure. For instance, in September 2018, the U.S. announced few projects such as Texas Children's Pavilion for Women tower expansion (Houston, TX), Mission Hospital tower(Asheville, N.C.), and other. Moreover, increasing demand for advanced healthcare service and rising awareness regarding artificial intelligence in healthcare has increased the governments to initiate spending of new programs. For instance, according to India Brand Equity Foundation, the government of India is aiming to increase healthcare spending to 3% of the GDP by 2022. Owing to these factors there is a need to keep track of every patients’ which will help maintain the history of patients and avoid the delay in treatment. Thus, increasing government initiative in healthcare coupled with rising awareness regarding IT solutions has expected to drive the growth of referral management market.

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Market Restraint:

  • Increasing Cyber Threats

Referral management has the data of patients which help track the patient referral. This system helps to improve and update the communication amongst specialists, doctors, hospital administration, nurses, primary care physicians, and other health providers included in the patient’s care. Referral management system holds patients sensitive data regarding its health and cyberattacks may pose a risk to patient life. For instance, cyber-attack of a Ransomware attack which in which attackers hold hospital or physician data hostage until the money is been paid, interrupting service and putting patients life at risk. Thus, increasing and widespread of such cyber-attacks may hamper the growth of referral management market.

Referral Management Market: Key Segments

  • Segmentation based on type: Self-Referral, Professional-Referral and Third Party-Referral.
  • Segmentation based on component: Software and Service.
  • Segmentation based on mode of delivery: Web-Based Delivery Mode, Cloud-Based Delivery Mode, and On-Premise Delivery Mode.
  • Segmentation based on end user: Providers, Payers, Patients, and Others.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

Referral Management Market: Report Scope

The report on the referral management market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Referral Management Market include:

  • Forcura (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • McKesson Corporation
  • Allscripts Healthcare, LLC
  • CERNER CORPORATION
  • eHealth Technologies
  • Kyruus
  • REFERRALMD
  • Advisory Board
  • Clarity Health Services, Inc.
  • L3Harris Technologies, Inc.
  • Eceptionist, Inc.
  • CareThrough
  • Chart Request
  • Persistent Systems
  • Other Key Companies

Referral Management Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Referral Management Market, by Type

  • Self-Referral
  • Professional-Referral
  • Third Party-Referral

Referral Management Market, by Component

  • Software
  • Service

Referral Management Market, by Mode of Delivery

  • Web-Based Delivery Mode
  • Cloud-Based Delivery Mode
  • On-Premise Delivery Mode

Referral Management Market, by End User

  • Providers
  • Payers
  • Patients
  • Others

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Referral Management Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions Answered by The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Increasing Government Initiatives to Incorporate IT Solution in Healthcare
      2. Rising Prevalence of Diseases
    3. Restraint
      1. Increasing Cyber Threats
    4. Opportunities
      1. Increasing Adoption of Cloud based Models in Developing Countries
    5. Challenges
      1. High Capital Requirement and Lack of Skilled Professional
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL REFERRAL MANAGEMENT MARKET BY TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Self-Referral
    3. Professional-Referral
    4. Third Party-Referral
  7. GLOBAL REFERRAL MANAGEMENT MARKET BY COMPONENT, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Software
    3. Service
  8. GLOBAL REFERRAL MANAGEMENT MARKET BY MODE OF DELIVERY, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Web-Based Delivery Mode
    3. Cloud-Based Delivery Mode
    4. On-Premise Delivery Mode
  9. GLOBAL REFERRAL MANAGEMENT MARKET BY END USER, Market Size in USD (2019-2027)
    1. Introduction
    2. Providers
    3. Payers
    4. Patients
    5. Others
  10. GLOBAL REFERRAL MANAGEMENT MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  11. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  12. COMPANY PROFILES
    1. Forcura
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
    2. McKesson Corporation
    3. Allscripts Healthcare, LLC
    4. CERNER CORPORATION
    5. eHealth Technologies
    6. Kyruus
    7. REFERRALMD
    8. Advisory Board
    9. Clarity Health Services, Inc.
    10. L3Harris Technologies, Inc.
    11. Eceptionist, Inc.
    12. CareThrough
    13. Chart Request
    14. Persistent Systems
    15. Other Key Companies
  13. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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Albert Roy
September 23, 2020, 12:31
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