Population Health Management Market
Population Health Management Market: Introduction
According to the report, the global population health management market was valued at USD 25.9 billion in 2020 and is projected to grow at a CAGR of 15.9% from 2021 to 2028. population is the collection of patient data through several health information technologies. resources, the analysis of that data into a single, actionable patient record, and the actions by which healthcare providers can improve clinical and financial outcomes.
In terms of mode of operation, the global population health management market has been categorized into web, cloud, and on-premise. Web-based population health management is an expanded or advanced version of cloud-based population health management, in which large organizations, healthcare providers, and insurance companies have access to separate storage sections and exclusive data access versus cloud-based population health management.
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The resources, services or applications are made available to users through the Internet from the server of the cloud computing provider and is known as a cloud-based system. Cloud computing is a type of computing that depends on shared computing resources rather than local servers or devices. The software or technology is installed and operates within the same premise. Hence, it is known as on-premises software. On-premises means physically confined within the enterprise, typically in a company’s data center.
Using Health IT Forms for Patient Engagement: Key Driver
Patient engagement initiatives through various electronic health forms have proven useful in population health management. Through various mobile health applications, compassionate care, patient care, etc., doctors can improve people’s health management. The use of patient portals and patient-generated health data can aid in population health management.
Technological advancements in electronic health records (EHRs), analytics, blockchain technology, and improved education of the population are driving the demand for population health management. These factors are expected to drive the growth of the global population health management market over the forecast period.
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Increase in government initiatives: major driver
Increase in government initiatives for the adoption of digital healthcare products is expected to drive the global market over the forecast period. In the United States, the implementation of the Affordable Care Act (ACA) is likely to play a major role in increasing the utilization of population health management services in the near future. The ACA eliminates payments for unnecessary readmissions, making hospitals financially responsible to patients for up to 30 days after they leave the hospital. This involves hospitals and healthcare providers installing platforms based on population health management to reduce the cost burden on patients and improve the quality of their services.
Nonprofit hospitals must conduct certain community activities every three years and report them to the Internal Revenue Service. The assessment includes information about a hospital’s plans to meet identified needs. In order to make the whole process hassle-free and get reimbursed for their services, these non-profits seek interventions from community health care centers or accountable care organizations, which usually purchase space storage for population health management and rent it out to others.
Hence, increase in government initiatives is expected to drive the global population health management market over the forecast period.
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The service segment will dominate the population health management market
In terms of components, the global population health management market has been categorized into hardware, software, and services. The services segment is expected to account for a major market share in 2020, and the trend is expected to continue during the forecast period. The segment is expected to grow at a High CAGR from 2021 to 2028.
Web segment to lead the population health management market
On the basis of operation, the global population health management market has been categorized into web, cloud, and on-premise. The web segment is expected to dominate the global market over the forecast period. Web-based population health management allows provider and patient progress to be tracked and measured simultaneously for multiple centers. This is a key factor propelling the segment during the forecast period.
Major players operating in the global population health management market include Koninklijke Philips NV, Lumeris, Health Catalyst, McKesson Corporation, Cerner Corporation, ZeOmega, Healthagen LLC, UnitedHealth Group, International Business Machines Corporation, and Persivia.
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Global Population Health Management Market: Segmentation
Population Health Management Market, By Mode of Operation
On the site
Population Health Management Market, By Component
Population Health Management Market, By End User
health care providers
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Population Health Management Market, By Region
The rest of Europe
Australia and New Zealand
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
Rest of the Middle East and Africa
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