New York, U.S., Sept. 06, 2022 (GLOBE NEWSWIRE) — Overview of the population health management market
According to a comprehensive research report by Market Research Future (MRFR), “Population Health Management Market Insights by Component, Solution, Delivery Mode, End User and Region – Forecast to 2030the market will reach USD 278.7 billion by 2030, at a CAGR of 19.2%.
Population Health Management Market Synopsis
In a population health management program, patient data is compiled from multiple health information technology sources. As a result, healthcare professionals can analyze this compiled data to create a unique, actionable patient record, which helps improve clinical and financial outcomes for their patients. A business intelligence tool is typically used in population healthcare management programs to aggregate data, allowing healthcare providers to create a precise and accurate clinical picture of each patient. The healthcare system has recently undergone significant changes and has become increasingly patient-centred.
The process of improving clinical health outcomes for a particular group of people through better coordination of care and patient engagement, supported by appropriate financial and care models, is known as health management. of the population (PHM). Its primary purpose is to collect and evaluate clinical data from a patient’s care setting to identify opportunities to improve patient health and provider financial results. With this idea, the management of the primary care population will move from reactive to proactive. Population Health Management is a patient-friendly platform that helps control treatment costs by providing more affordable alternatives. The software also assists payers and service providers in managing reimbursement policy risks. Over the past few years, the healthcare system has evolved a great deal and has become patient-centred.
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|Market size 2030||$278.7 billion|
|Year of reference||2021|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By component, solution, delivery method and end user|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||The prevalence of chronic diseases and favorable government regulations|
|Growing elderly population and high investments in health care|
Population Health Management Market Competitive Landscape:
The illustrious contenders in the population health management market are:
- Front Health Group
- Epic Systems Corporation
- Population health
- Conifer Health Solutions
- health catalyst
- Koninklijke Philips
- Citra Health Solutions
- Orion Health
- HealthEC LLC
USP Population Health Management Market Covered:
Due to their easy availability, ease of data exchange, and ease of interoperability with doctors, smart healthcare devices for remote health monitoring are in demand. Additionally, the growth of the population health management market is greatly aided by improved drug customization and increasing investment in the healthcare industry. The increased implementation of population health management has been widely attributed to the shift from fee-for-service (FFS) to value-based payment (VBP) in the health sector. This is partly because organizations that effectively aggregate data and then analyze population health data can better coordinate and administer care.
The demand for high quality therapies has recently increased due to chronic diseases. More healthcare management services are needed due to the growing demand for treatment. Another significant factor influencing the population health management market is high investments in healthcare. It encourages the use of health informatics. The PHM is frequently used to provide ongoing monitoring and care to patients due to the increasing frequency of cardiological and neurological diseases. Market expansion is also facilitated by the increasing use of PHM solutions to improve clinical outcomes for patients by providing access to medical data to healthcare professionals with a range of medical specialties.
Population health management technology is capital intensive. Many regions lack basic health care infrastructure. The healthcare industry struggles to integrate these advanced technologies. Significant investments are needed to build a health management system for such a large population. The hospital needs IT and a compatible system before setting up a population health system. Web applications must be integrated into the software.
Browse the in-depth market research report (80 pages) on population health management: https://www.marketresearchfuture.com/reports/population-health-management-market-3123
COVID 19 Analysis of the Population Health Management Market
Medical facilities are under severe strain due to the COVID-19 outbreak, and the global healthcare system is regularly overloaded with patients. The increasing incidence of COVID-19 in several countries has increased the demand for reliable diagnostic and therapeutic tools. In this regard, population health management (PHM) solutions have proven to be very useful as they allow healthcare providers to easily integrate solutions such as electronic health records, care management and patient management and healthcare payer solutions like payment and claims management.
Limited access to medical treatments, a shortage of personnel in the healthcare sector and an increase in hospitalizations related to COVID-19 are some other variables that are impacting the market. The increasing incidence of COVID-19 has increased the demand for reliable diagnostic and therapeutic tools in various countries. Due to the health management program’s emphasis on value-based payment (VBP) and accountable care organizations, reimbursement for medical care is evolving (ACO). Additionally, the simplicity of value-based payment models is contributing to increased use by CCOs of community health solutions.
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Population Health Management Market Segmentation
By component, the market is split into hardware and others.
The market is split into Data Integration & Management, Analytics and Others by solution.
By delivery mode, the market is split into onsite and other.
By end-user, the market is split into healthcare providers and others.
Population Health Management Market Regional Overview
The region that was dominating the global population health management market is expected to continue to do so during the forecast period, North America. Technological developments in population health management systems, the incorporation of state-of-the-art software and data analytics, and the presence of significant businesses in the region are all credited with this. However, due to the growth of the region’s elderly population, the expansion of healthcare infrastructure and the increasing number of investment projects, Asia-Pacific is expected to experience significant growth. Additionally, the Asia-Pacific PHM market is expected to grow rapidly in China and India.
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During the forecast period, a relatively higher CAGR is expected to be achieved in Europe and Asia-Pacific markets. The expansion of the PHM market in Europe is estimated to be fueled by lower initial acceptance and projected growth in the adoption of population health management due to great growth potential. The growth of specialty and multi-chain hospitals in Asia-Pacific, along with the expansion of healthcare IT infrastructure, is expected to fuel the expansion of the market.
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