- Government reforms in some countries, such as the Affordable Care Act in the United States to eliminate the cost of unnecessary patient readmission, are expected to increase the uptake of population health management services.
- Range of population health management tools that enable different patient-centric functions in various care settings to drive adoption
ALBANY, NY, March 29, 2022 /PRNewswire/ — TMR analysts estimate that the population health management market is expected to grow at a CAGR of 15.9% over the forecast period from 2021 to 2028. The rapid penetration of IT solutions for healthcare for the benefit of remote patient monitoring, data storage and data integration is fueling the growth of the population health management market.
The growing awareness about the benefits of population health management programs is likely to drive the opportunities in the population health management market. The adoption of MPS has enabled healthcare professionals to improve the quality of care, address gaps in care management by providing healthcare services tailored to the patient population, and benefit from increased cost-effectiveness.
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North America is expected to remain at the forefront among all regions in the population health management market. The population health management market in Asia Pacific is expected to show the fastest growth over the forecast period. This is due to initiatives by government agencies to leverage population health and the application of analytical tools for better patient care management of population groups in the region.
Population Health Management Market – Key Findings of the Report
- Government initiatives to adopt digital health products to reduce patient costs and improve the quality of patient care services are driving the adoption of platforms based on population health management. For example, in the United States, implementation of the Affordable Care Act eliminates payments for unnecessary readmissions for hospitals to bear the financial burden for up to 30 days after patients are discharged.
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- PHM tools are available in a wide range that have different functions for various care settings. Data collection, personalized medicine, healthcare financing assistance for patients and payers are some of the offerings of PHM tools.
- Adoption of PHM programs ensures affordability of health care for the population in addition to accessibility to health care. Lately, various population health management programs deployed by hospital administrators have proven instrumental in reducing the overall cost of hospitalization, improving medication adherence, and testing new disease risk management models. .
- MPS tools help nonprofit hospitals undertake routine community activities required for their position. The task involves using a population health management tool to provide an assessment of an investigating hospital’s plan to meet its identified needs. Nonprofit hospitals seek help from community health centers that typically buy storage space for population health management applications and rent it out to others.
- The use of population health management services using home monitoring and tracking apps should reduce the need for hospitalization. Integrating multimedia features into PHM tools could help consumers and patients have increased access to doctors and nurses remotely without having to visit a health center.
- Web-based mode of operation is expected to dominate the population health management market over the forecast period
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Population Health Management Market – Growth Drivers
- The major benefits of engaging patients through various IT forms and digital products are fueling the growth of the population health management market. Using patient-generated health data through mobile health apps helps doctors improve population health management.
- Technological advancements in analytics, electronic health records and improved population education are driving the demand for population health management platforms
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Population Health Management Market – Key Players
Some of the major players operating in the population health management market are;
- Koninklijke Philips NV
- health catalyst
- Cerner Company
- United Health Group
- McKesson Corporation
- International Commercial Machinery Society
The population health management market is segmented as follows;
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
- Insurance providers
- Pharmaceutical companies
Population Health Management Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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