Global Population Health Management Market 2020-2025 By Key-Players Are –Allscripts, McKesson Corporation, and Cerner Corporation
Industry Trends
Population health management (PHM) solutions are capable of processing clinical, financial, and operational data that help improve patient care and effectiveness. Due to increasing focus on value-based payment (VBP) and accountable care organizations (ACOs), the health management system is also seeing improvements in medical reimbursement. Furthermore, the convenience offered by value-based payment models is responsible for ACOs increasingly adopting population health solutions.
ACOs, consisting of hospitals, clinics, and other healthcare providers, collaborate with the payers (private and public) to provide high quality care to the patients. Private and public insurance providers have introduced various disease management programs that help in the treatment of chronic illnesses. These multidisciplinary efforts are expected to result in efficient treatment outcomes and are likely to suggest the best suitable courses of action that need to be undertaken. Successful large-scale trials in U.S. have enabled significant advancements in disease management programs.
The growing patient demand for quality care has prompted the healthcare system in the U.S. to adopt the latest technologies which can curtail costs, enhance quality care, and reduce administrative inefficiencies. Under the ACA, the Medicare system will penalize hospitals having a high rate of readmitted patients due to lack of quality care. An effective way of reducing patient readmission is to provide patients and healthcare providers with access to complete and accurate health records. Population health management solutions provide comprehensive patient illness history and ways to analyze the records in order to take proactive steps. The implementation of such practices can help improve diagnoses, prevent errors, and save time. Thus, the implementation of population health management programs is gradually being considered as pivotal by both hospitals and physicians.
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Population health management also supports the formation of Accountable Care Organizations (ACOs). The U.S. government defines ACOs as a group of healthcare providers that offer coordinated care and chronic disease management, thereby improving the quality of care. The payment of these organizations is linked to the achievement of their healthcare quality goals and outcomes resulting in cost savings for the medical care delivery system.
Global Population health management Market in Healthcare Market Revenue & Forecast, (US$ Million), 2015 – 2027:
Competitive Landscape
PHM software offers predictive data analytics which can be applied from unstructured clinical data to interpret population characteristics. The product segment of services held a majority share of the market in 2019, as healthcare providers prefer in-house maintenance services. Healthcare providers retained the segment's biggest end-use market share in 2019. The providers will better concentrate on patient-centered treatment and slash overall costs.
North America was the largest regional market in 2019, and is likely to maintain its position over the forecast period, as providers, payers, providers-payers and accountable care organizations promote the use of PHM services. The Asia Pacific healthcare market is expected to see the fastest growth in the coming years due to increased healthcare spending and improved healthcare infrastructure in the region
Allscripts, McKesson Corporation, and Cerner Corporation are some of the key PHM market players. Acquisitions and business partnerships with other market players are some of the strategic initiatives undertaken by these companies to strengthen their market presence.
Global Population Health Management in Healthcare Market:
Application: automating patient-centered medical home (pcmh), Access comprehensive longitudinal patient record, Effectively coordinate care, patient outreach, Others, Delivery mode, Cloud-based, On-premises
By Component: Software, Services (post-sale and maintenance services, consulting services, training and education services, implementation services
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)
Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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