10-Sep-2019: The global population
health management market size is expected to reach USD
101.0 billion by 2025, according to a new report by Grand View Research, Inc.
It is projected to register a CAGR of 20.7% during the forecast period. The
need for population health services that combine multiple functionalities is
increasing, due to the complex nature of care delivery and payment models. PHM
solutions can process clinical, financial, and operational data for the
improvement of efficiency and patient care. The convenience offered by
value-based payment models instead of Fee-for-Service (FFS) is responsible for
increased adoption of these solutions by the Accountable Care Organizations
(ACOs).
ACOs, consist of
hospitals, clinics, doctors, and other caregivers, collaborate with payers for
the delivery of high-quality patient care. Private and public insurance
providers have introduced various disease management programs, to assist in the
treatment of chronic illnesses. These multidisciplinary efforts are expected to
result in effective treatment outcomes and are likely to suggest 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 market has a healthy mix of vendors offering PHM along with other healthcare IT solutions.
Acquisitions and partnerships are the major strategies adopted by the companies
operating in the population health management market. For instance, in 2018
Allscripts announced completion of acquisition of the HealthGrid Holding
Company, a developer of enterprise patient engagement solution. The acquisition
signifies expansion of the Allscripts FollowMyHealth platform that provides
patient engagement solutions focused on connecting consumers with providers.
In
depth research report on Population Health Management (PHM) Market
Further key findings from the report suggest:
·
Based on the products, the services segment held majority of
the market share in 2018, as healthcare providers prefer in-house maintenance
services
·
In 2018, healthcare provider held the largest market share of
the end-use segment. The providers can focus effectively on patient-centric
care and reducing overall costs
·
North America was the largest regional market in 2018 and is
likely to retain its position over the forecast period, as the providers,
payers, providers-payers, and accountable care organizations promote the use of
PHM services
·
Asia Pacific is expected to witness the fastest growth in the
forthcoming years due to rising healthcare expenditure and improving healthcare
infrastructure
·
Allscripts, McKesson Corporation, and Cerner Corporation
among others are some of the key players operating in the Population Health
Management (PHM) market. Business partnerships and acquisitions are some of the
key strategic initiatives undertaken by these companies to strengthen their
market presence.
Grand View Research
has segmented the global Population Health Management (PHM) market based on
product, end use, and region:
Population Health Management (PHM) Product Outlook (Revenue,
USD Million, 2014 - 2025)
·
Software
·
Services
Population Health Management (PHM) End Use Outlook (Revenue,
USD Million, 2014 - 2025)
·
Payers
·
Providers
·
Employer Groups
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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